LIVE
BITCOIN / HALVING COUNTDOWN / 2028
NEXT
BITCOIN
HALVING
TARGET BLOCK
1,050,000
EST. DATE
APRIL 2028
CURRENT REWARD
3.125 BTC
NEXT REWARD
1.5625 BTC
LOADING BLOCK DATA...
CURRENT BLOCK
955,041
BLOCKS REMAINING
94,959
CURRENT REWARD
3.125 BTC
POST-HALVING REWARD
1.5625 BTC
BTC MINED
95.46%
HOW THE HALVING WORKSEVERY 210,000 BLOCKS
01
210,000 BLOCKS
Every 210,000 blocks the reward is cut in half. Enforced by code, not policy. No one can override it.
02
21M CAP
The halving schedule guarantees total BTC supply never exceeds 21 million coins. Hard limit, forever.
03
SUPPLY SHOCK
Fewer new coins enter circulation each cycle. If demand holds steady or grows, price rises.
04
FEE TRANSITION
As block rewards shrink, transaction fees become the primary incentive for miners to secure the network.
HALVING HISTORY — ALL 5 HALVINGS
| # | DATE | BLOCK | PRE-REWARD | POST-REWARD | BTC PRICE | CYCLE HIGH |
|---|---|---|---|---|---|---|
| #1 | Nov 28, 2012 | 210,000 | 50 BTC | 25 BTC | $12 | $1,150 |
| #2 | Jul 9, 2016 | 420,000 | 25 BTC | 12.5 BTC | $650 | $19,700 |
| #3 | May 11, 2020 | 630,000 | 12.5 BTC | 6.25 BTC | $8,600 | $68,700 |
| #4 | Apr 19, 2024 | 840,000 | 6.25 BTC | 3.125 BTC | $63,700 | NEW ATH |
| #5 | ~Apr 2028NEXT | 1,050,000 | 3.125 BTC | 1.5625 BTC | TBD | ? |
Cycle High = peak BTC price in the 18 months following each halving. Past performance does not indicate future results.
SUPPLY SCHEDULE
96.87% OF ALL BTC MINED BY 2028.
After the fifth halving at block 1,050,000, approximately 20,343,750 BTC will have been issued. Only 656,250 BTC left to mine over the following century.
Currently 20,047,003 BTC mined — 95.46% of the 21 million total. The last Bitcoin is not expected until around 2140.
HALVING #1 — 201250%
10,500,000 BTC
HALVING #2 — 201675%
15,750,000 BTC
HALVING #3 — 202087.5%
18,375,000 BTC
HALVING #4 — 202493.75%
19,687,500 BTC
HALVING #5 — 202896.87%
20,343,750 BTC
HALVING #6 — 203298.44%
20,671,875 BTC
MINER IMPACT — 4 PHASES
SHOCK
IMMEDIATELY AFTER
Revenue per block drops 50% overnight. Less efficient miners go offline. Hashrate dips.
RESET
WEEKS 1-8
Difficulty adjusts every 2,016 blocks. Surviving miners' margins recover as competition falls.
RECOVERY
MONTHS 3-12
New, more efficient ASIC hardware enters the market. Operators upgrade to restore profitability.
ATH
12+ MONTHS
Rising BTC price in post-halving cycles compensates for reduced subsidy. Hashrate hits new records.
MINERS ALWAYS ADAPT. THE NETWORK ALWAYS SURVIVES.
The halving is often feared by miners as a death sentence for profitability, yet the Bitcoin network has emerged stronger from each one. The difficulty adjustment mechanism recalibrates every 2,016 blocks, ensuring the network maintains its 10-minute block time regardless of how many miners participate.
After the 2028 halving, transaction fees will represent a growing share of miner revenue. As Bitcoin adoption grows and the mempool fills with higher-value transactions, fee income is expected to partially offset the declining subsidy.
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FREQUENTLY ASKED QUESTIONS
What is the Bitcoin halving?+
The Bitcoin halving is a programmed event hardcoded into Bitcoin's protocol that cuts the block reward paid to miners in half approximately every four years, or more precisely, every 210,000 blocks. When Bitcoin launched in 2009, miners received 50 BTC per block. After the first halving in 2012 the reward became 25 BTC, then 12.5 BTC in 2016, 6.25 BTC in 2020, and 3.125 BTC after the fourth halving in April 2024. The fifth halving will reduce the reward to 1.5625 BTC per block.
When is the next Bitcoin halving?+
The next Bitcoin halving will occur at block 1,050,000, estimated to arrive in April 2028. The exact date is not fixed. It depends on the average time it takes miners to find each block. Bitcoin targets one block every 10 minutes, and the difficulty adjustment mechanism recalibrates every 2,016 blocks to maintain that pace. The countdown above uses the live block height from the Bitcoin network to give you the most current estimate.
What happens to the Bitcoin price after a halving?+
Historically, each Bitcoin halving has been followed by a significant price increase, though the timing varies and past performance does not guarantee future results. After the 2012 halving, Bitcoin's price rose from roughly $12 to over $1,000 within a year. Following the 2016 halving, price climbed from around $650 to nearly $20,000 by late 2017. After the 2020 halving, Bitcoin reached an all-time high near $69,000 in late 2021. After the April 2024 halving, Bitcoin set new all-time highs above $100,000.
How does the Bitcoin halving affect miners?+
The halving immediately cuts miners' revenue in half in BTC terms overnight. Miners who cannot cover their electricity and operational costs at the reduced reward are forced to shut down, reducing total network hashrate until difficulty adjusts downward and the remaining miners become profitable again. Historically, hashrate has recovered and reached new all-time highs within months of each halving. The 2028 halving will drop the block reward to 1.5625 BTC, making miner profitability increasingly dependent on transaction fee revenue.
What is the block reward after the 2028 Bitcoin halving?+
After the fifth Bitcoin halving at block 1,050,000, the block reward will drop from 3.125 BTC to 1.5625 BTC per block. At 144 blocks per day, miners will collectively earn approximately 225 BTC per day from block subsidies, down from 450 BTC per day under the current reward.
How many Bitcoin halvings are left?+
Bitcoin is designed to have a total of 33 halvings before the block reward reaches zero, expected around the year 2140. After the fifth halving in 2028, there will be 28 halvings remaining. After approximately the 32nd halving around 2036, the block reward will fall below 1 satoshi and will round to zero. At that point, transaction fees alone will compensate miners for securing the network.
Why does Bitcoin have a halving mechanism?+
Satoshi Nakamoto built the halving into Bitcoin's protocol to create a predictable, disinflationary supply schedule, unlike fiat currencies which can be printed in unlimited quantities by central banks. The halving ensures that the total supply of Bitcoin never exceeds 21 million coins. This controlled scarcity is a foundational part of Bitcoin's value proposition as digital gold.
What percentage of Bitcoin has already been mined?+
As of 2026, approximately 19.7 million of the 21 million maximum Bitcoin supply have already been mined, roughly 93.8%. By the time the fifth halving occurs at block 1,050,000 in 2028, approximately 20.34 million BTC will have been mined, representing 96.87% of the total supply. The last Bitcoin is not expected to be mined until around 2140.
What was the Bitcoin price at each previous halving?+
Bitcoin's price at each halving: First halving (November 28, 2012, block 210,000): approximately $12. Second halving (July 9, 2016, block 420,000): approximately $650. Third halving (May 11, 2020, block 630,000): approximately $8,600. Fourth halving (April 19, 2024, block 840,000): approximately $63,700. In each cycle, Bitcoin's price reached a new all-time high in the 12 to 18 months following the halving.
COINCOVERAGE.ORGBLOCK DATA: MEMPOOL.SPACE / REVALIDATES EVERY 10 MIN