Bitcoin’s Fixed Supply Comes Into Focus as Network Passes 20 Million Coins Mined

Bitcoin’s Scarcity Deepens After 20 Million BTC Mined, 21M Cap Approaches

Blockchain metrics show that 95.24% of Bitcoin’s total supply has already been mined into existence, leaving fewer than one million bitcoins still remaining. The share mined reflects the 2024 halving, which reduced block rewards from 6.25 BTC to 3.125 BTC per block. Although more than 95% of the bitcoin supply now circulates, reaching the 99% threshold will not occur until February 2035.

Estimates from timechainstats.com suggest the full bitcoin supply will be mined sometime between 2138 and 2140, give or take, while the milestone of 99.9% mined is projected for January 2048. The same projections table also indicates that the final whole bitcoin is likely to be mined around 2105. The next Bitcoin halving is expected to occur on or around April 4, 2028, roughly 110,004 blocks away.

At that point, the current 3.125 BTC block reward will be reduced to 1.5625 BTC per block. When the 2028 event arrives, and for roughly the following four years, it will mark the last period when block subsidies exceed one bitcoin. After the 2032 Bitcoin halving, each block is projected to yield about 0.78125 BTC. Given Bitcoin’s mathematical design, projections also indicate that the 2036 halving will push rewards below half a coin, lowering the subsidy to 0.390625 BTC per block.

In addition to the milestone of 20 million coins mined, the mining pool Foundry USA produced block 940000 on Monday, meaning the network is now just 60,000 blocks away from recording its one millionth block. The latest milestones illustrate how Bitcoin’s issuance schedule steadily tightens as time moves forward. With each halving event, the pace of new supply entering circulation slows, reinforcing the protocol’s fixed cap of 21 million coins.

While the final fractions of bitcoin will take more than a century to be fully mined, the network continues to mark measurable checkpoints along the way. For now, crossing the 20 million mark places Bitcoin firmly into the late stages of its programmed monetary issuance.

FAQ 🔎

• How many bitcoins have been mined so far?
  About 20 million bitcoins have been mined, meaning roughly 95.24% of the total 21 million BTC supply is already in circulation.
• How many bitcoins are left to mine?
  Fewer than one million bitcoins remain to be mined before the network reaches its fixed 21 million supply cap.
• When is the next Bitcoin halving expected?
  The next Bitcoin halving is projected to occur around April 4, 2028, reducing block rewards from 3.125 BTC to 1.5625 BTC.
• When will all bitcoins be mined?
  Current estimates suggest the final bitcoin will be mined between 2138 and 2140, based on Bitcoin’s programmed issuance schedule.