Half of Bitcoin is a pre-programmed occurrence after mining is carried out every four years or every 210,000 blocks. During half of the event, the reward for mining new blocks of Bitcoin will be reduced by half.
Bitcoin has been in half three times since its release in 2009. The first half occurred on November 28, 2012, when block rewards decreased from 50 BTC to 25 BTC. Half of the second Bitcoin occurred on July 9, 2016, reducing its reward to 12.5 BTC. The third Bitcoin Harving event took place on May 11, 2020, halving the reward to 6.25 BTC.
The fourth and final Bitcoin Harving occurred on April 20, 2024 at block height of 840,000. Half of Bitcoin is scheduled at block height rather than dates and occurs every 210,000 blocks. Based on this, the next half of the event, which will take place in 2028, is expected to occur at block 1,050,000.
Bitcoin hits 25% progression and moves to the next half
Bitcoin has reached a milestone on its journey to its next Harving event. This is 25% of the current cycle.
According to multiple on-chain sources, 2028 Bitcoin Harving could occur in March or April 2028.
In the tweet, X’s Bitcoin-on-chain and cycle analyst “root” showed half progression was 25%.
However, it is difficult to predict the next half accurate date, as it depends on the block height. The next half is not expected until the first quarter of 2028, but the progression markers for this quarter have already been buzzing within the crypto community, as investors speculate about what the next phase of the post-harving cycle will bring.
Bitcoin was trading at $84,029 at press time, starting from its all-time high of $109,114 in January.
