Bitcoin Halving - or Halvening - is an event that occurs at regular intervals and has a significant impact on the Bitcoin market. Because: Bitcoin (BTC) is secured by the so-called Proof of Work consensus procedure. This means that new Bitcoin only enters the market by providing energy in the form of computing capacity. This computing capacity is provided by the so-called Bitcoin miners. If a miner has successfully attached a block to the Bitcoin blockchain, he or she receives a reward - a so-called reward - in the form of Bitcoin. This reward is halved with each halving, resulting in less and less Bitcoin entering circulation as time progresses.
Less than 90 days: Next Bitcoin Halving is coming into focus
But when is the next Bitcoin Halving and how long is it until then? The countdown counts the days, hours, minutes and seconds until the Bitcoin Halving in 2024.
The next Bitcoin Halving - the fourth halving since the creation of Bitcoin - is expected to take place on Monday, April 22, 2024. Taking the average ten minutes for a new Bitcoin block, the 840,000 block is reached at this point. By then there will only be around 13,000 blocks left. (As of January 23, 2024).
The block reward for BTC miners will then be 3.125 Bitcoin (BTC) per block mined until the halving in 2028.
Bitcoin Halving 2024: All key data for the next halving
- Next Bitcoin Halving expected on Monday, April 22, 2024.
- Fourth halving since Bitcoin was created.
- Block height at 840,000 (until then around 14,500 blocks)
- Reduction of the block reward from 6.25 to 3.125 Bitcoin per validated block.
What is Bitcoin Halving?
The so-called Bitcoin Halving is a regular halving of the rewards in the form of Bitcoin that miners receive for providing their computing capacity. This reward is paid out in the form of Bitcoin. This reward in BTC is halved by the halving, meaning the number of Bitcoin a miner receives for each block found is reduced. After the next halving, this so-called block reward will be 3,125 Bitcoin per block mined. This means that the last Bitcoin will not be mined until around the year 2140, after the 33rd halving.
How often does Bitcoin Halving take place?
The Bitcoin Halving takes place at regular intervals of around four years. Specifically, this event is triggered after the creation of 210,000 new Bitcoin blocks. This BTC reward halving is hard-wired into the code. Since the time required for this can vary by a few minutes, the date of the next Bitcoin halving can only be estimated.
When did the last Bitcoin Halving take place?
The last Bitcoin halving was on May 11, 2020. The block reward for miners was halved from 12.5 to 6.25 Bitcoin (BTC).