Next Bitcoin Halving

Bitcoin Halving Countdown

Bitcoin's block reward will drop from 3.125 to 1.5625 BTC per block in approximately

Estimated reward drop: ~ April 2028

1.5625 BTC

Reward After

—

BTC Price

~10 min

Avg Block Time

What is the Bitcoin halving?

Bitcoin's supply is capped at 21 million coins, released to miners as a block reward. Roughly every four years that reward is cut in half, the halving. It's hard-coded into Bitcoin and it's the mechanism that makes the network predictably scarce.

21M

Maximum supply

210,000

Blocks per halving

~4 yrs

Between halvings

2140

Last coin mined

A hard cap of 21 million

No one can ever create more than 21 million bitcoin. Unlike fiat money, the supply can't be inflated by a central bank, scarcity is built into the code.

New coins come from mining

Miners secure the network and, every ~10 minutes, the one that solves the block earns newly issued bitcoin, the block reward, plus transaction fees.

The reward halves

Every 210,000 blocks the reward is cut in half: 50 → 25 → 12.5 → 6.25 → 3.125 BTC, and next to 1.5625. The flow of new supply keeps shrinking.

Why it matters

Against steady or rising demand, halving the rate of new supply tightens Bitcoin's scarcity over time. Roughly 94% of all bitcoin has already been mined, and with coins lost to forgotten keys, the effective supply is even smaller. This is the core of Bitcoin's store-of-value thesis.

How it affects the price

Historically, the year following each halving has seen significant price appreciation, though past performance is no guarantee. For miners it's the opposite pressure: revenue per block is cut in half overnight, so efficiency and electricity cost decide who stays profitable. A Bitcoin heater that mines while it heats your home turns that running cost into warmth.

What happens around 2140?

After roughly 33 halvings the block reward rounds to zero and the final satoshis are issued, estimated around the year 2140. From then on, miners are paid entirely through transaction fees, and no new bitcoin is ever created again.

Bitcoin's supply curve

Each halving cuts the block reward in half, so new supply slows in steps while the total creeps toward its 21 million hard cap, and never past it.

Total supply (toward 21M) Block reward per block Halving

Illustrative. Halving dates from ~2028 onward are estimates tied to block height.

Bitcoin halving dates

The block reward is cut in half every 210,000 blocks, about every four years, until the last bitcoin is mined around 2140. Here is the full schedule.

Bitcoin halving schedule: dates, block heights and block rewards from 2012 to 2036.
# Date Block height Reward before Reward after
1 28 Nov 2012 210,000 50 BTC 25 BTC
2 9 Jul 2016 420,000 25 BTC 12.5 BTC
3 11 May 2020 630,000 12.5 BTC 6.25 BTC
4 20 Apr 2024 840,000 6.25 BTC 3.125 BTC
5 ~2028 Next 1,050,000 3.125 BTC 1.5625 BTC
6 ~2032 1,260,000 1.5625 BTC 0.78125 BTC
7 ~2036 1,470,000 0.78125 BTC 0.390625 BTC

Calculate your mining returns

See what mining earns at today's reward, and model how the next halving changes your numbers.

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Bitcoin halving FAQ

When is the next Bitcoin halving?

The next halving happens at block height 1,050,000, currently estimated for around 2028. Because it is tied to block height rather than a calendar date, the exact day shifts slightly with how fast blocks are mined, the live countdown above always reflects the latest estimate.

What actually happens at the halving?

The block reward paid to miners is cut in half. At the 2024 halving it dropped from 6.25 to 3.125 BTC per block; at the next one it falls to 1.5625 BTC. This halves the rate of new bitcoin entering circulation, which is the mechanism behind Bitcoin's scarcity.

Why does the halving matter for miners?

With block rewards cut in half, efficiency and electricity cost decide who stays profitable. The more of your running cost you can offset, the better you ride out the drop, which is why heaters that mine while they warm your space change the maths in your favour.

Should I start mining before or after the halving?

Starting before lets you mine at the current, higher reward and be fully set up when the next era begins. Use the calculator to model your returns across the halving and decide what fits your setup.

How many Bitcoin halvings are left?

Four halvings have happened so far (2012, 2016, 2020 and 2024). Around 29 more remain: the reward keeps halving roughly every four years until it rounds to zero near 2140.

What happened to the price after previous halvings?

Each previous halving was followed, within roughly 12 to 18 months, by a major price rally. It is a recurring pattern rather than a promise, and plenty of factors beyond supply move the price.

Does the halving affect transaction fees?

Over time, yes. As the block reward shrinks, transaction fees make up a growing share of miner revenue. Once the reward reaches zero around 2140, fees become the only mining income.

What does the halving mean for my miner?

Your hardware runs exactly the same; only the BTC paid per block drops. Because the payout falls, low running costs matter more, which is where miners that reuse their electricity as heat have an edge.

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