The next Bitcoin halving is expected in 2028.
Every 210,000 blocks, the amount of new bitcoin miners earn per block is cut in half. It is how Bitcoin keeps its total supply capped at 21 million.
The date is an estimate based on recent block times. It moves a little as miners join or leave.
Every halving
Times in UTC| Halving | When | Block | Reward per block |
|---|---|---|---|
| First halving | 28 November 2012, 15:24 | 210,000 | 50 → 25 BTC |
| Second halving | 9 July 2016, 16:46 | 420,000 | 25 → 12.5 BTC |
| Third halving | 11 May 2020, 19:23 | 630,000 | 12.5 → 6.25 BTC |
| Fourth halving | 20 April 2024, 00:09 | 840,000 | 6.25 → 3.125 BTC |
| Fifth halvingNext | Around July 2028 | 1,050,000 | 3.125 → 1.5625 BTC |
| Sixth halving | Around 2033 | 1,260,000 | 1.5625 → 0.78125 BTC |
| Seventh halving | Around 2037 | 1,470,000 | 0.78125 → 0.390625 BTC |
| The 33rd and last halving | Around 2140, at 10 minutes a block | 6,930,000 | 1 satoshi → 0 |
So far
Ahead
Bitcoin supply over time
About 20.11 million bitcoin exist today, 95.7% of all there will ever be. Each halving bends the line: from then on, every block adds half as much.
Worked out from the reward schedule in Bitcoin’s code, block by block. After today the dates are estimates from recent block times; the amounts are fixed. The total stops at 20,999,999.9769 BTC.
Bitcoin’s price across the halvings, on the history timelineQuestions about the halving
What is the Bitcoin halving?
The miner who finds a block may pay itself a set amount of new bitcoin, on top of the fees in the payments it includes. That amount started at 50 BTC in January 2009, and every 210,000 blocks the software cuts it in half. Since block 840,000, in April 2024, it has been 3.125 BTC.
Source: Bitcoin Core’s block-reward code.
Why does it happen about every four years?
The halving is set in blocks, not dates. Bitcoin aims for a block every 10 minutes, and 210,000 blocks at that pace take 1,458 days, just under four years. Blocks have come a little faster than that, so every halving so far has arrived early: the eras between them have lasted from 1,319 to 1,440 days. That’s also why the countdown’s date moves.
When is the last halving?
The reward halves 33 times in all. At block 6,720,000 it falls to a single satoshi, the smallest amount Bitcoin can record, and at block 6,930,000 it rounds down to nothing. At 10 minutes a block, that’s around 2140. After that, miners earn only the fees in the payments they include, and no more than 20,999,999.9769 BTC will ever have been created, just under 21 million.
Sources: Bitcoin Core’s block-reward code, Bitcoin.org FAQ.
Does the halving guarantee a price increase?
No. A halving changes only how much new bitcoin a miner can create for a block. The price is set by people buying and selling, and nothing in Bitcoin’s rules ties the two together.
Does the halving change my payments or fees?
No. A halving changes only the new bitcoin a miner can claim for a block. Payments, addresses and the way fees work stay the same, and the fee a payment needs still depends on how many others are waiting.