The Halving

A BITCOIN HALVING OCCURS WHEN THE REWARDS FOR MINING NEW BLOCKS IS HALVED, RESULTING IN MINERS RECEIVING 50% FEWER BITCOINS FOR SOLVING A NEW BLOCK. WHEN BITCOIN FIRST BEGAN, MINERS WERE REWARDED WITH 50 BITCOINS PER BLOCK. THE BLOCK REWARD IS HALVED EVERY 210,000 BLOCKS MINED (ROUGHLY EVERY 4 YEARS) AND WILL CONTINUE TO HALVE UNTIL THE REWARD PER BLOCK REACHES ZERO (AROUND YEAR 2140). A REDUCTION IN MINING REWARDS REDUCES THE NUMBER OF NEW BITCOINS ON THE MARKET.