Bitcoin Now Over Halfway To Next Halving—How Many Blocks Are Left?

Bitcoin has crossed the 945,000 blocks milestone, putting it past the midway point to the next Halving event. Here’s how many blocks are still to go.

If this reward remains constant, miners will keep flooding the same number of coins into the market, which can have a negative effect on the asset’s value over time. With the Halving in place, however, the production rate of the cryptocurrency keeps shrinking, thus making new tokens scarcer. This is the reason why Satoshi implemented the feature: the pseudonymous creator wanted to mitigate the inflation of the asset.

Initially, Bitcoin started out with a block subsidy of 50 BTC. After four Halving events, the reward’s value stands at 3.125 BTC today. The next Halving event, which is currently estimated to occur in November 2028, will further slash the block subsidy to 1.5625 BTC.

While the Halving is periodic, there won’t be an infinite number of instances of this event. This is due to the fact that Satoshi also put a cap on the cryptocurrency’s supply. Once miners have introduced 21 million tokens into circulation, they won’t be handed out block subsidies anymore. Past that point, Halvings would naturally lose all meaning.

The fact that there is a supply cap is a troublesome fact for miners, as they earn the majority of their income via the block subsidy. With each Halving that occurs en route to this endpoint, miners’ BTC revenue shrinks, and they have to count on the cryptocurrency’s price going up over time to sustain their USD income.

At the time of writing, Bitcoin is floating around $76,800, up more than 3% in the last seven days.