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A Bitcoin halving is an event that occurs roughly every 4 years (every 210,000 blocks), where the reward miners receive for adding a block to the Bitcoin blockchain is cut in half.
Why it matters
Reduces the rate at which new bitcoins are created.
Makes Bitcoin more scarce over time.
Is a key part of Bitcoin's fixed supply limit of 21 million BTC.
Halving history
Date
Block Reward
2009 (launch)
50 BTC
2012 Halving
25 BTC
2016 Halving
12.5 BTC
2020 Halving
6.25 BTC
2024 Halving
3.125 BTC
Next halving
The next Bitcoin halving is expected around 2028, when the reward will decrease from 3.125 BTC to 1.5625 BTC.
Market impact
Historically, Bitcoin has often experienced major bull markets in the 12–18 months following a halving, although past performance does not guarantee future results. The logic is that:
New supply entering the market decreases.
If demand stays the same or rises, scarcity can push prices higher.
Supply formula
The mining reward progression follows:
�
where:
� = block reward after � halvings
� = number of halving events
If you'd like, I can also explain how the 2024 halving affected Bitcoin's price and mining profitability.
Why it matters
Reduces the rate at which new bitcoins are created.
Makes Bitcoin more scarce over time.
Is a key part of Bitcoin's fixed supply limit of 21 million BTC.
Halving history
Date
Block Reward
2009 (launch)
50 BTC
2012 Halving
25 BTC
2016 Halving
12.5 BTC
2020 Halving
6.25 BTC
2024 Halving
3.125 BTC
Next halving
The next Bitcoin halving is expected around 2028, when the reward will decrease from 3.125 BTC to 1.5625 BTC.
Market impact
Historically, Bitcoin has often experienced major bull markets in the 12–18 months following a halving, although past performance does not guarantee future results. The logic is that:
New supply entering the market decreases.
If demand stays the same or rises, scarcity can push prices higher.
Supply formula
The mining reward progression follows:
�
where:
� = block reward after � halvings
� = number of halving events
If you'd like, I can also explain how the 2024 halving affected Bitcoin's price and mining profitability.