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Definition: Bitcoin halving

Bitcoin miners receive a reward in bitcoins when they add a block to the blockchain. The block reward continually decreases by half every 210,000 blocks, which is approximately every four years. After each halving, it can become more expensive to mine bitcoins, unless the price of Bitcoin rises to offset the reduction in rewards.

The First Halving Was in 2012
In November 2012, the first halving took place when the price of Bitcoin was around $11. The next halving will occur in 2024 (see table below).

No More Coins in 2140
Although more than a century away, Bitcoin will be capped at 21 million coins in 2140, and miners will no longer obtain coin rewards from the mining process. They will only receive transaction fees.

Investors Are Waiting for 2024
Because the price of a bitcoin goes up after each halving, speculators forecast $100,000 per coin the next time in 2024. As is evident in the table below, the number of reward coins eventually becomes extremely small. However, if the price of a single bitcoin rises over time, the reward may still be meaningful. Stay tuned! See crypto block reward, Bitcoin mining and Bitcoin.
                 Block    Miner Reward
  Halving Date   Height     (in BTC)

   Jan 2009            0    50

   Nov 2012      210,000    25

   Jul 2016      420,000    12.5

   May 2020      630,000     6.25

   Mar 2024**    840,000     3.125

   Feb 2028**  1,050,000     1.5625

   Jan 2032**  1,260,000     0.78125

   Jan 2036**  1,470,000     0.390625

   Jan 2040**  1,680,000     0.1953125

   Jan 2044**  1,890,000     0.09765625

   Jan 2048**  2,100,000     0.048828125

 ** = estimated date