Bitcoin Universe · Model 12
The Bitcoin halving clock
Every block creates new bitcoin, and every 210,000 blocks that amount halves. Turn the clock through all 33 halving epochs, from 50 BTC per block in 2009 to the last single satoshi.
Why issuance slows down
The subsidy is only part of what miners earn: they also collect the fees of the transactions in their block. Fees are paid by users from existing coins and create no new bitcoin, so they are not on this clock.
Reading
All 33 epochs
| Epoch | Starts at block | Subsidy (BTC) | Issued by its end (BTC) | Date |
|---|
Values come from Bitcoin's subsidy rule in integer satoshis. The issued total counts what the schedule allows; slightly less actually exists, because the genesis reward cannot be spent and some miners claimed less than allowed. Future dates assume an average of ten minutes per block and will differ in practice; only past halvings carry real dates.