Bitcoin's supply clock
The Bitcoin halving guide.
About every four years, Bitcoin cuts the flow of new coins in half. Here is the full schedule, the numbers behind it, and why the rhythm shapes the entire market.
Reviewed and current as of September 12, 2026
01What the halving is
Bitcoin miners earn new coins for adding blocks to the chain. Every 210,000 blocks, the protocol cuts that reward in half. The schedule was written into the original software, it runs on its own, and everyone can see every future halving coming years ahead.
The first reward was 50 bitcoin per block. Today it is 3.125. The next cut lands around April 2028, trimming it to 1.5625. Simple math, public code, zero surprises.
02The full schedule
| Date | Block | New coins per block | Change |
|---|---|---|---|
| Nov 28, 2012 | 210,000 | 25 | 50 to 25 |
| Jul 9, 2016 | 420,000 | 12.5 | 25 to 12.5 |
| May 11, 2020 | 630,000 | 6.25 | 12.5 to 6.25 |
| Apr 19, 2024 | 840,000 | 3.125 | 6.25 to 3.125 |
| Apr 2028 (est.) | 1,050,000 | 1.5625 | 3.125 to 1.5625 |
| ~2032 | 1,260,000 | 0.78125 | half again |
| ~2036 | 1,470,000 | 0.390625 | half again |
Future dates are estimates. Blocks arrive about every ten minutes, so the calendar date drifts a little with network speed. The block numbers, though, are fixed in the code.
03How issuance changes
Right now miners create about 450 new bitcoin a day: 3.125 coins times roughly 144 blocks. After the 2028 halving, that flow drops to about 225 a day. More than 95 percent of all bitcoin already exists, and each halving makes the remaining trickle thinner.
The cuts continue until the last fraction of a coin is mined around the year 2140. After that, miners earn transaction fees alone, and the 21 million cap holds for good.
04Why it matters
Scarcity you can verify. Gold miners keep digging, central banks keep printing, and holders guess at both. Bitcoin's future supply is public math, visible to anyone. That certainty is why long term planners mark halving dates on their calendars, why miners build their businesses around them, and why each one renews the conversation about sound money.
Watch the countdown live on our network stats page, and see how past halvings lined up with price history on the Bitcoin chart.
01What exactly happens at a halving?
The protocol cuts the block reward in half at a fixed block height. Miners keep mining, blocks keep arriving, and the network keeps running exactly as before, with half the new coins entering circulation.
02When is the next Bitcoin halving?
Block 1,050,000, expected around April 2028. The network stats page tracks the live countdown every day.
03Does the halving change the bitcoin I already hold?
Your coins stay exactly as they are. The halving only slows the creation of new coins, which is why holders watch it closely: existing coins become a larger share of a slower growing supply.
04Why does price talk heat up around halvings?
New supply shrinks while attention grows, and markets love a clear story. Past cycles saw strong runs in the year after a halving, which is why each one draws fresh eyes to the chart.
05When will the last bitcoin be mined?
Around the year 2140. By then the block reward will have halved about 33 times, down to a single satoshi, and miners will earn their keep from transaction fees.