Live subsidy schedule
Bitcoin Halving
Current and next block subsidy, blocks remaining, and two separately labelled date projections for the next halving.
Countdown
The next time issuance halves.
— of the current 210,000-block epoch has been mined.
Two projections
Why nobody knows the date.
The halving happens at a block height, not on a calendar. Converting blocks into a date requires an assumption about how fast blocks arrive, so BitcoinTrench shows both assumptions it can defend rather than picking one.
At the protocol target
—
Projected from the ten-minute target block interval.
At the observed pace
—
Projected from the block interval actually observed in the current difficulty epoch. When hashrate is growing this lands earlier than the target projection; when it is shrinking, later.
Full schedule
Every halving, past and projected.
| Epoch | Height | Subsidy | Date | Status |
|---|---|---|---|---|
| Loading schedule… | ||||
Confirmed dates are historical fact. Projected dates use the ten-minute target and drift as real block cadence varies — the further out the epoch, the wider the uncertainty.
Why it happens
A schedule nobody administers.
The rule
Every 210,000 blocks the block subsidy is divided by two, using integer arithmetic that eventually truncates to zero after 33 halvings. The rule is enforced by every node independently: a block claiming more than its permitted subsidy is simply rejected. There is no issuer to petition and no schedule to revise.
What it changes
Each halving cuts the share of miner revenue that comes from new issuance, which over time shifts Bitcoin’s security budget towards transaction fees. That transition is the single most consequential open question in Bitcoin’s long-run economics — and it is why the fee share of miner revenue is worth watching.