Bitcoin Halving Explained: What Happens Every Four Years

BullCalc Team · October 11, 2026 · 2 min read

About every four years, Bitcoin goes through an event that is written into its code from the very beginning: the halving. It is one of the most talked-about moments in crypto.

What happens

Miners who add a new block to the Bitcoin blockchain receive a reward of newly created bitcoins. Every 210,000 blocks, that reward is cut in half. Since a block is found about every 10 minutes, 210,000 blocks take roughly four years.

Why Bitcoin has halvings

Halvings are how Bitcoin limits its supply to 21 million coins. New coins enter the market more and more slowly, and the last fractions are expected to be mined around the year 2140. This predictable, shrinking supply is a big part of why some people see Bitcoin as "digital gold".

Effect on miners

After a halving, miners earn half as many new bitcoins for the same work. Miners with expensive electricity or older machines can become unprofitable and may switch off, unless the price or transaction fees rise. Over time, more of miners' income is expected to come from fees. The mining calculator shows how the reward affects profit.

Halving and price

Past halvings were followed by strong price rises within the next one to two years, which is why the event gets so much attention. But past cycles are not a promise. The market knows exactly when the halving will happen, so some of the effect may already be priced in, and many other factors move the price.

When is the next one?

The next halving happens at block 1,050,000, expected in 2028. The halving countdown tracks the current block height and estimates the date live.

This article is for education only and is not financial advice.