Halving
The Bitcoin halving cuts the new bitcoin paid for each block in half every 210,000 blocks, which is about every four years.
As of block 971,630 (15 Oct 2026, 23:05 UTC), the next halving is 78,370 blocks away, most likely between March and April 2028.
Every 210,000 blocks (about four years) the new bitcoin paid for each block is cut in half. It started at 50 BTC in 2009 and is 3.125 BTC since April 2024. It is why there will never be more than 21 million bitcoin.
When were the halvings?
At block 210,000 in November 2012 (50 to 25 BTC), block 420,000 in July 2016 (12.5), block 630,000 in May 2020 (6.25) and block 840,000 on 20 April 2024 (3.125 BTC). The next is at block 1,050,000, expected in 2028.
Why will there never be more than 21 million bitcoin?
Because the rewards halve forever, their sum approaches 21 million and never reaches it. The last satoshi of new issuance comes around the year 2140; after that miners are paid by fees alone.
Sources
Updated 10 Oct 2026
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