Bitcoin Halving occurs when the mining reward for Bitcoin is reduced by half. This is embedded into the mining algorithm to combat inflation and create scarcity.
Bitcoin halving happens every 210,000 blocks – roughly every 4 years. Until the maximum supply of 21 million coins is reached.
A new block is mined about every 10 minutes.
The first block was mined Jan 3rd, 2009 with 50 Bitcoins for every block reward.
The first halving was in 2012 with 25 Bitcoin mined, then the halving after that was 2016 with 12.5 Bitcoin being mined.
The 2020 halving was reduced to 6.25 Bitcoin being mined.
The next halving is expected on April 20th of this year, with only 3.125 Bitcoin being mined each 10-minute block.
The last halving is expected in the year 2140.
