Bitcoin Halving History
Explore the timeline of Bitcoin halvings. This interactive chart details the block rewards, historical dates, and Bitcoin prices at the time of each major supply reduction.
Interactive Halving Timeline
Hover over the points to see details for each halving event.
Halving Event Data
| Event | Date | Block Height | Reward (BTC) | Price at Halving |
|---|---|---|---|---|
| Genesis Block | Jan 3, 2009 | 0 | 50 | $0.00 |
| 1st Halving | Nov 28, 2012 | 210,000 | 25 | $12.25 |
| 2nd Halving | Jul 9, 2016 | 420,000 | 12.5 | $650.53 |
| 3rd Halving | May 11, 2020 | 630,000 | 6.25 | $8,821.42 |
| 4th Halving | Apr 19, 2024 | 840,000 | 3.125 | $63,976.20 |
| 5th Halving (Est) | Est. 2028 | 1,050,000 | 1.5625 | — |
What is a Bitcoin Halving?
A Bitcoin halving (sometimes called "halvening") is a pre-programmed event in the Bitcoin protocol that occurs every 210,000 blocks—roughly every four years. During a halving, the reward given to Bitcoin miners for adding a new block to the blockchain is cut in half.
When Bitcoin was launched in 2009, miners received 50 BTC per block. After the first halving in 2012, this dropped to 25 BTC. The most recent halving in April 2024 reduced the reward to 3.125 BTC.
Why Does Bitcoin Have Halvings?
Halvings serve several critical economic functions in the Bitcoin network:
- Controlled Supply: They ensure that new Bitcoin enters circulation at a predictable, decreasing rate.
- Absolute Scarcity: The halving schedule guarantees that there will never be more than 21 million Bitcoin in existence.
- Inflation Resistance: By reducing the rate of new supply, Bitcoin's inflation rate trends toward zero over time.
The Impact on Price and Mining
Historically, halvings have been closely watched by the market because they reduce the daily supply of new Bitcoin being sold by miners. If demand remains constant or increases while new supply is cut in half, the price tends to rise over the following months. However, past performance does not guarantee future results, and market dynamics are complex.
For miners, halvings mean an immediate 50% cut in their primary revenue source. This typically forces inefficient miners to shut down their equipment, leading to a temporary drop in the network's hash rate before it adjusts and stabilizes.