#1 Nov 28, 2012
- Block
- 210,000
- Reward
- 50 → 25 BTC
- Supply mined
- 10.5 million (50%)
- Price on the 1st of that month
- $10.85
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Every four years Bitcoin halving history
Roughly every four years, or every 210,000 blocks, the reward miners receive for adding a block to Bitcoin’s blockchain is cut in half. Here is every halving so far, what changed each time and when the next one is expected.
Next Bitcoin halvingBlock 1,050,000
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Estimated date · actual timing depends on mining speed
All halvings at a glance
#2 Jul 9, 2016
- Block
- 420,000
- Reward
- 25 → 12.5 BTC
- Supply mined
- 15.75 million (75%)
- Price on the 1st of that month
- $676.30
#3 May 11, 2020
- Block
- 630,000
- Reward
- 12.5 → 6.25 BTC
- Supply mined
- 18.375 million (87.5%)
- Price on the 1st of that month
- $8,865
#4 Apr 19–20, 2024
- Block
- 840,000
- Reward
- 6.25 → 3.125 BTC
- Supply mined
- 19.6875 million (93.75%)
- Price on the 1st of that month
- $69,702
#5 Expected around April 2028
- Block
- 1,050,000
- Reward
- 3.125 → 1.5625 BTC
- Supply mined
- 20.34375 million (96.875%)
- Price
- Not yet known
Halving cycles compared
Bitcoin's price in the 30 months after each halving, shown as a multiple of the price at the start of the halving month (1× = no change). Log scale.
2012 halving2016 halving2020 halving2024 halving
| Halving | Price | After 12 mo | After 24 mo | Highest in 30 mo |
|---|---|---|---|---|
| Nov 2012 | $11 | 18.6× | 30.0× | 87.4× (month 13) |
| Jul 2016 | $676 | 3.6× | 9.4× | 20.2× (month 18) |
| May 2020 | $8,865 | 6.5× | 4.3× | 6.9× (month 18) |
| Apr 2024 | $69,702 | 1.2× | 1.0× | 1.7× (month 18) |
First-of-month prices. Each cycle's gains have been smaller than the one before. The 2024 cycle runs to Oct 2026. Past cycles do not predict future ones.
What is a Bitcoin halving?
Bitcoin’s code fixes how many new coins are created. Miners receive newly issued bitcoin, called the block reward, each time they add a block to the chain. After every 210,000 blocks that reward is cut in half. That event is the halving.
Because the network aims for a new block about every ten minutes, 210,000 blocks take roughly four years. The schedule started at 50 BTC per block in 2009 and has fallen to 3.125 BTC since April 2024.
Repeated halvings slow new issuance over time and cap the total supply at 21 million bitcoin. The exact dates are not fixed in advance, because the time between blocks varies, which is why future halving dates are always estimates until they happen.
Frequently asked questions
How often does the Bitcoin halving happen?
Every 210,000 blocks, which works out to about every four years because the network aims for one block roughly every ten minutes.
When is the next Bitcoin halving?
The fifth halving happens at block 1,050,000 and is currently expected around April 2028. The exact date depends on how fast blocks are mined, so use the live countdown above for the latest estimate.
How many bitcoin are left to be mined?
More than 20 million of the 21 million bitcoin that will ever exist have already been mined. The remaining coins are released more slowly with each halving.
Does the halving change the price of Bitcoin?
Prices have risen in the year or so after past halvings, but that is a historical pattern, not a rule, and many other factors move the market. Nothing on this site is financial advice.
What happens when all bitcoin have been mined?
The last coins are expected to be issued around the year 2140. After that, miners will be paid only through transaction fees.
Sources and method
Events are compiled from public records, official announcements and widely reported news. Prices come from public price histories and are rounded. Read how this data is compiled.
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