Bitcoin Halving: Countdown to Mid-2024 Event Reveals Average Block Time and Record-High Fee
Halving on the Way
Our calculator leverages live blockchain data to determine the average block time over the past two months. The halving block, block 840000, witnessed an unprecedented 376 BTC fee, amounting to over 24 million.
Countdown to Bitcoin Halving
Follow our live countdown to the next Bitcoin halving, slated for mid-April 2024. The final halving is projected to occur in 2140, marking the end of Bitcoin's fractional issuance.
Technical Details
The halving block, block 840000, was mined on May 11, 2020, at block height 630000. The block reward at the time was 12.5 BTC, and the transaction fee was 376 BTC, a record high.
The average block time over the past two months has been 10 minutes and 10 seconds. This is slightly slower than the target block time of 10 minutes, but it is still within the acceptable range.
Impact of Halving
The halving is a significant event for Bitcoin because it reduces the supply of new bitcoins by half. This can lead to increased demand for Bitcoin, which can drive up the price.
The next halving is expected to occur in mid-April 2024. It will be the fourth halving in Bitcoin's history.
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