- Bitcoin has reached a milestone with 95% of its total supply mined.
- Antpool mined the block awarding the 19,950,000th BTC.
- Bitcoin’s total supply is capped at 21 million coins.
- The mining reward per block has decreased to 3.125 BTC, down from 50 BTC in 2009.
- It will take until 2140 to mine the final Bitcoin due to scheduled reward reductions.
On Monday, Bitcoin officially surpassed 95% of its total supply being mined when Antpool generated block 923,999. This block included the issuance of the 19,950,000th BTC, moving the asset closer to its capped supply.
The Bitcoin protocol limits total supply to a hard cap of 21 million coins, which is enforced by thousands of nodes worldwide. While early network bugs briefly threatened this cap, the community currently maintains strict adherence to it.
Originally, miners earned 50 BTC per block when Bitcoin launched in 2009. This reward halves roughly every four years in an event called the “halving.” The reward dipped to 25 BTC in 2012, then to 12.5 BTC in 2016, and currently stands at 3.125 BTC per block. The next halving, slated for April 2028, will reduce the reward further to 1.5625 BTC per block.
According to the halving schedule, 95% of all Bitcoin supply is now mined. This amount will rise to 99% by 2035, with the remaining 1% expected to be mined gradually until around 2140. The earlier rewards favored early miners, but today, mining has shifted from hobbyists using personal computers to large companies securing energy contracts globally.
Antpool, the mining pool linked to the largest Bitcoin mining hardware manufacturer, Bitmain, earned a total of $298,000 from the coinbase reward and the 0.013 BTC in transaction fees included in block 923,999. This milestone shows the ongoing maturation and commercialization of Bitcoin mining.
For more detailed information, readers can visit Protos for the article on Bitcoin mining difficulty and follow updates on their official channels.
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