Bitcoin Halving
Past halvings · block reward changes · how it works
Bitcoin halving history
The first four are halvings that occurred on chain; the fifth is the block height implied by the 210,000-block protocol rule.
| Event | Date | Block height | Block reward |
|---|---|---|---|
| First halving | 2012-11-28 | 210,000 | 50 → 25 BTC |
| Second halving | 2016-07-09 | 420,000 | 25 → 12.5 BTC |
| Third halving | 2020-05-11 | 630,000 | 12.5 → 6.25 BTC |
| Fourth halving | 2024-04-20 | 840,000 | 6.25 → 3.125 BTC |
| Fifth halving | Expected 2028 | 1,050,000 | 3.125 → 1.5625 BTC |
The current data feed does not provide block height, so no countdown is shown. For live price and market data see Bitcoin →
What is the Bitcoin halving
The halving cuts in half the new bitcoins miners earn per block. The protocol halves the reward every 210,000 blocks, roughly every four years. It started at 50 BTC in 2009 and after four halvings is now 3.125 BTC, with total supply fixed at 21 million.
It slows issuance over time, keeping inflation under control and guaranteeing scarcity. Bitcoin has risen markedly in the one to two years after each past halving, but past performance is no guarantee.
About the Bitcoin halving
What is the Bitcoin halving?
The halving cuts in half the number of new bitcoins miners receive for each block. The protocol halves the reward every 210,000 blocks, roughly every four years. The reward started at 50 BTC in 2009 and the total supply is fixed at 21 million.
Why was the halving designed in?
It slows the issuance of new coins over time, keeping inflation under control and guaranteeing scarcity. This is one of the most fundamental differences between Bitcoin and traditional currencies.
How does the halving affect the price?
Bitcoin has risen markedly in the one to two years after each past halving, but past performance is no guarantee and the halving itself does not ensure higher prices.
How is the next halving date estimated?
It is estimated from the current block height, the halving block height and the recent average block time. The actual moment shifts as network hashrate changes.