Bitcoin’s circulating supply has reached 20.05 million BTC, representing 95.47% of the fixed maximum supply of 21 million. Therefore, 950,000 BTC remain to be mined over more than a century due to the halving mechanism, which halves block rewards every four years. The last Bitcoin is expected to be mined around 2140. From that date onward, miners will no longer receive new BTC emissions and will rely entirely on transaction fees to cover their operating costs. The next halving is expected in April 2028, when the block reward will drop from 3.125 to 1.5625 BTC.
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