Bitcoin's fourth halving is now complete, lowering miners' block subsidy rewards from 6.25 BTC to 3.125 BTC; the third halving was in May 2020
Done and dusted! André Beganski / Decrypt : Bitcoin Completes Fourth Halving, Ushering In New Era for BTC Gino Matos / Crypto Briefing : Runes could solve Bitcoin's long-term security: IntoTheBlock Associated Press : Bitcoin's next ‘halving’ is right around the corner. Here's what you need to know X: Brian Roemmele / @brianroemmele : The wall in 2016 during the rather monumental Halving of Bitcoin event. Much like what I do with AI in my garage, few even in 2016 understood with Bitcoin at $700. The experts scoffed. Today another Bitcoin Halving milestone. What will your 8 years in the future look like? [image] Bojan Tunguz / @tunguz : So the 4th Bitcoin halving is happening on 4-20??? And then there are still those who don't believe that we line in a simulation. Jacob Canfield / @jacobcanfield : If I had $1 for every halving joke I see on my timeline, I might be able to make up for how much my spot portfolio is down. Laura Shin / @laurashin : Bitcoin's Historic Fourth Halving Is Complete JUST IN: Bitcoin's historic fourth halving has taken place, cutting block subsidy rewards in half to 3.125 BTC. Here's why this halving is different from every previous one. @httpsageyd reports Read more: https://unchainedcrypto.com/ ... [image] Laurence / @functi0nzer0 : Everyone's talking about the Bitcoin halving, just made me realise how I'm half of myself without you around: I never gave you the rewards you deserved when we were together either. Tell your mom I said hey. [image] @deitaone : BITCOIN HALVING PROCESS TAKES PLACE The highly awaited Bitcoin halving finally happened on Saturday, with the Bitcoin block height hitting 840,000. The event, which controls how many new coins are entering the market, takes place every four years and is usually followed by an... @hsakatrades : happy halving [image] @bitmexresearch : Bitcoin is now at block height 840,000 The halving has occurred! The block subsidy is now 3.125 BTC 🌗🌗🌗🌗 Blockhash = 0000000000000000000320283a032748cef8227 873ff4872689bf23f1cda83a5 Clark Moody / @clarkmoody : I think some people want to be in the Halving block 39 BTC reward... [image] Molly White / @molly0xfff : happy halving to all who celebrate @autismcapital : That feeling when you realize that with the Bitcoin ETF already approved and the new halving basically being the last BIG one you don't have any real Bitcoin events to look forward to anymore. [image] @binance : The 4th #Bitcoin halving is complete! Block rewards are now 3.125 #BTC The countdown has been reset - see you in 2028 🫡 [video] @autismcapital : 🚨 THE BITCOIN HALVING IS COMPLETE AT BLOCK 840,000!!! 🎉🥳🍾 Jacquelyn Melinek / @jacqmelinek : crypto bros in the club tn: yeah so it depends on the time zone you're in, but for some people the Bitcoin halving actually happened on 4/20 which is so sick [image] Forums: r/CryptoCurrency : Bitcoin ushers in fourth halving as miners' block subsidy reward drops to 3.125 BTC
Context & Ripple Effects
Bitcoin’s fourth scheduled subsidy reduction follows the 2020 halving that set rewards at 6.25 BTC per block and the 2016 event that focused attention on mining-industry economics. The protocol change is mechanical, but it resets the economics of validating Bitcoin transactions.
Coverage immediately before the event estimated that the reduced issuance would cut miners’ BTC-denominated block-subsidy income in half, putting the sector’s cost structure and transaction-fee revenue under sharper scrutiny.
First-order effects
- Bitcoin miners now receive 3.125 BTC rather than 6.25 BTC for each block, immediately halving the BTC-denominated subsidy paid for the same validation work.
- Mining operators with higher operating costs face a more constrained margin profile unless BTC prices, transaction fees, or operational efficiency offset the lower subsidy.
Second-order effects
- The reward cut intensifies competition for efficient mining capacity: operators may reassess hardware deployment and power costs, while less economical capacity is more exposed to retrenchment.
- Transaction fees become relatively more important to miner revenue than before, reinforcing attention to demand for block space as the subsidy shrinks.
Third-order effects
- If successive halvings continue to compress subsidy income, Bitcoin security economics will depend more heavily on a combination of fee revenue, BTC valuation, and an efficient, competitively allocated mining base.
- The event is another test of whether a fixed issuance schedule can sustain transaction validation through recurring shifts in miner incentives rather than discretionary monetary policy.
The trend: Bitcoin’s recurring halvings are shifting mining from a subsidy-led business toward one increasingly governed by fee demand, asset prices, and operational efficiency.