Crypto and derivatives · updated October 21, 2026
What is the Bitcoin halving and when does it happen
The halving is when the reward miners get for a new Bitcoin block is cut in half. It happens every 210,000 blocks, roughly once every four years. That way fewer and fewer new bitcoins are created, until the 21 million limit is reached.
How it works
The rule has been written into Bitcoin's software from the start. The reward began at 50 BTC per block in 2009, then dropped to 25 (2012), 12.5 (2016), 6.25 (2020) and 3.125 BTC (April 2024). The next halving is expected around 2028.
Worked example
The block reward over the latest periods:
Nearly 20 million bitcoins have already been created. The rest, up to 21 million, will come out more and more slowly, until around 2140.
Worth knowing
Many investors link the halving to price rises in the years that follow. There have only been four halvings, which is too short a history to draw firm conclusions.
When the Bitcoin halving can fool you
"The price rises after a halving": it has happened a few times, but it is not a rule; the market knows the date well in advance. Pressure on miners: high-cost miners may have to sell or shut down after a halving.
Related terms
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Questions about the Bitcoin halving
When is the next Bitcoin halving?
Around 2028, when the network reaches block 1,050,000. The exact date depends on how fast blocks come in.
Why does the halving exist?
So that new coins are created more and more slowly and the total never goes above 21 million. It is the opposite of a regular currency, which a central bank can print.
These explanations are for information only. They are not a recommendation to buy or sell.
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