Bitcoin Halving Cycles

Published: Jan 05, 2023 Est. read time: 1 minute

Although Bitcoin is already over 15 years old, it is still in the early stages of its halving events, with only the fourth halving having just occurred at 00:09 UTC on April 20th, 2024. The next halving is not expected to take place until 2024. While it is true that over 90% of all Bitcoin has already been mined, there are many more halving events to come in the future.

Bitcoin halving is an event that occurs every 210,000 blocks, roughly every four years. This event marks the block reward for mining new blocks on the Bitcoin network being reduced by half. This reduction in the block reward is meant to incentivize miners to continue to secure the network and maintain the decentralized nature of the blockchain by reducing the supply of new bitcoins being released into circulation. Here is a table with the estimated years of the next halving and the corresponding block reward:

* Please note that the estimated years are based on the expected averages for 210,000 blocks to be mined. This may vary slightly from the actual date of the halving, but the rewards will always be halved