Every halving so far — and the next
| # | Date | Block | Reward after | Supply issued |
|---|---|---|---|---|
| — | Jan 3, 2009 | 0 | 50 BTC | 0% |
| 1st | Nov 28, 2012 | 210,000 | 25 BTC | 50% |
| 2nd | Jul 9, 2016 | 420,000 | 12.5 BTC | 75% |
| 3rd | May 11, 2020 | 630,000 | 6.25 BTC | 87.5% |
| 4th | Apr 20, 2024 | 840,000 | 3.125 BTC | 93.75% |
| 5th | April 2028 (est.) | 1,050,000 | 1.5625 BTC | 96.875% |
What actually happens at block 1,050,000?
The coinbase transaction of that block — and every block after it — may mint at most 1.5625 new BTC instead of 3.125. Daily issuance drops from ~450 to ~225 BTC overnight. Nothing else changes: your coins, fees, and transactions are untouched. The rule is enforced by every node on earth simultaneously, which is why four halvings have executed with zero drama. For the full story — mechanics, history, and what halvings verifiably do and don't do — read the halving history.
Questions people actually ask
When exactly is the next bitcoin halving?
At block 1,050,000 — a height, not a date. Because blocks average ~10 minutes, the calendar estimate drifts slightly every day; the countdown on this page recomputes it live from the actual chain, which currently projects to around spring 2028.
What exactly changes at the halving?
One number: the block subsidy drops from 3.125 to 1.5625 BTC. Every block after 1,049,999 simply mints half as much. Transactions, balances and fees are untouched — only the rate of new supply changes.
Can the halving be delayed or cancelled?
No. It is enforced by every node independently: a block claiming the old subsidy at the new height is invalid everywhere. There is no meeting, no vote, no ceremony — the schedule has executed four times without a single missed block.
Why do halving countdowns disagree with each other?
Calendar-based countdowns assume exactly 10-minute blocks. Real blocks run slightly fast or slow with hashrate swings, so block-based countdowns (like this one) self-correct while date-based ones drift. Trust the height.