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 X: @hsakatrades : happy halving [image] @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] 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] @bitmexresearch : Bitcoin is now at block height 840,000 The halving has occurred! The block subsidy is now 3.125 BTC 🌗🌗🌗🌗 Blockhash = 0000000000000000000320283a032748cef8227 873ff4872689bf23f1cda83a5 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] @binance : The 4th #Bitcoin halving is complete! Block rewards are now 3.125 #BTC The countdown has been reset - see you in 2028 🫡 [video] 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. 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... Clark Moody / @clarkmoody : I think some people want to be in the Halving block 39 BTC reward... [image] @autismcapital : 🚨 THE BITCOIN HALVING IS COMPLETE AT BLOCK 840,000!!! 🎉🥳🍾 Molly White / @molly0xfff : happy halving to all who celebrate 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
The event completes a transition that coverage had framed as a material hit to mining economics: a pre-halving estimate put the reduction in new BTC paid to miners at 900 to 450 per day and projected a large annual revenue impact.
It also extends Bitcoin's recurring issuance schedule. The prior 2020 reward reduction took the block payout to 6.25 BTC, while earlier coverage focused on the possible consequences for price and the mining industry.
First-order effects
- Bitcoin miners now receive half as much BTC in block subsidy per block, immediately tightening revenue for operators whose costs are unchanged.
- The protocol's flow of newly issued BTC declines from the pre-halving rate, making transaction fees and BTC's market value more consequential to miners' realized revenue.
Second-order effects
- Mining operators face stronger pressure to improve efficiency, cut costs, or rely on higher fee and BTC-price income to sustain margins; less-efficient capacity is the most exposed.
- Hardware, hosting, and power-market counterparties may see mining customers become more selective as the revenue base supporting their spending contracts.
Third-order effects
- If repeated halvings continue to compress subsidies, Bitcoin security economics will increasingly depend on a sustainable combination of transaction-fee revenue and the BTC price rather than issuance alone.
- The pattern favors a mining sector able to absorb periodic revenue shocks, potentially concentrating activity among operators with lower costs or more resilient balance sheets.
The trend: Bitcoin's programmed scarcity model is shifting the mining business from subsidy-led economics toward a greater reliance on fees, market price, and operating efficiency.