The halving is when the reward for finding a new block on the Bitcoin network is cut in half. It happens every 210,000 blocks, roughly every four years. The halving is written into Bitcoin'sBitcoinThe first and largest cryptocurrency: a digital currency that no single party controls, with a fixed limit of 21 million coins. rules, so nobody has to decide on it.
How has the reward changed?
When the network launched in 2009, miners received 50 bitcoin for each block. Since then the reward has been halved four times:
| Date | Block | Reward per block |
|---|---|---|
| 28 November 2012 | 210,000 | 25 bitcoin |
| 9 July 2016 | 420,000 | 12.5 bitcoin |
| 11 May 2020 | 630,000 | 6.25 bitcoin |
| 20 April 2024 | 840,000 | 3.125 bitcoin |
The next halving will happen at block 1,050,000 and is expected in 2028.
Why does it matter?
The halving slows the issuance of new bitcoin, so the total approaches 21 million without ever going over that maximum supplyMaximum supplyThe largest number of units of a cryptocurrency that can ever exist under its rules, such as 21 million for bitcoin.. The last fraction of a bitcoin will be created around the year 2140.
For minersMiningThe process in which computers compete to solve a puzzle so they can add the next block to the blockchain and earn new bitcoin and fees., a halving means the new bitcoin they receive for each block drops by half overnight. Transaction fees are not affected. In the long run, the idea is that network feesNetwork feeA fee paid to a crypto network, not to a bank or company, for including your transaction in a block. become their main source of income.
Some people link halvings to price rises, because the price of bitcoin has risen in the years after earlier halvings. That is no guarantee for the future, and many other things affect the price.
Everything in Myntkaup Learn is written and regularly reviewed by the Myntkaup editorial team. It is for education and is not investment advice. Editorial policy. Updated 18 October 2026.