Bitcoin halving countdown
Blocks remaining until the block subsidy halves again, taken from live chain height and the fixed 210,000-block schedule. The block count is exact. The date is an estimate, and we say so.
The estimated date assumes blocks keep arriving at the recent average pace. They will not, precisely: hashrate changes and difficulty retargets every 2,016 blocks to compensate. Treat the date as approximate and the block number as exact.
Halvings so far
| Block | Date | Subsidy before | Subsidy after |
|---|---|---|---|
| 210,000 | 28 November 2012 | 50 BTC | 25 BTC |
| 420,000 | 9 July 2016 | 25 BTC | 12.5 BTC |
| 630,000 | 11 May 2020 | 12.5 BTC | 6.25 BTC |
| 840,000 | 19 April 2024 | 6.25 BTC | 3.125 BTC |
What the halving actually does
Every 210,000 blocks the reward paid to the miner of each new block is cut in half. This is the mechanism that makes Bitcoin's issuance schedule fixed and decreasing: sum the subsidy across all eras and the total converges just under 21 million. It is not a policy that anyone can revise. Every node independently rejects a block paying more than the schedule allows.
What it does to miners
Miner revenue is the subsidy plus transaction fees. A halving cuts the subsidy half overnight while costs stay where they were, so the least efficient capacity becomes unprofitable and leaves unless price or fee revenue compensates. Difficulty then adjusts downward, making mining easier for whoever remains. The system absorbs the shock by design.
What it does not do
It does not guarantee anything about price. The supply effect is certain and mechanical; the price effect is an argument, made from four observations, in a period when almost every variable was also changing. We report the mechanics as fact and the price claims as claims — and we will not put a date-and-target headline on a four-sample pattern.
Keep exploring
The Bitcoin Signal
Price, fees, hashrate, halving and on-chain fundamentals — each with what it can and cannot tell you.
ReferenceBitcoin glossary
Every term this site uses, defined plainly, with no jargon and nothing to sell.
AnalysisThe First-Principles Take
Claim, evidence, reasoning — and an explicit account of what the evidence does not prove.