Remaining 929,465 BTC will take over a century to mine

Bitcoin has produced roughly 20.07 million BTC, leaving about 929,465 coins still to be mined under the protocol’s 21 million limit. At block height 962,570 and as of 8 a.m. EDT on Aug. 15, 2026, the block subsidy is 3.125 BTC. At a near-ten-minute block time, that yields about 450 BTC per day and roughly 164,250 BTC per year.

The protocol halves the block reward every 210,000 blocks, or roughly every four years. The next halving is expected around 2028, when the subsidy will fall to 1.5625 BTC per block and daily new issuance will fall to about 225 BTC. Each subsequent halving will continue to reduce new supply.

Bitcoin passed 95% of nominal issuance on Dec. 3, 2025, and projections place 99% issuance near February 2035. Estimates indicate the final percentage points of the supply will be distributed over many decades rather than in a short period.

The subsidy schedule eventually pays out in satoshis, not whole coins. Projections show block rewards at 74 satoshis in 2112, 37 in 2116, 18 in 2120, nine in 2124, four in 2128, two in 2132 and one satoshi for a final period before subsidies reach zero around 2140. The protocol cannot create fractions of a satoshi, leaving a theoretical ceiling of about 20,999,999.9769 BTC.

Miners earn revenue from newly minted BTC and transaction fees. Over a recent 24-hour period, mining revenue totaled about $28.7 million, with transaction fees composing about 0.69% of that total. The hashprice, an estimate of revenue per unit of mining power, has fallen since 2021. Network hashrate stood near 900 exahashes per second at the cited time. Mining difficulty readjusts every 2,016 blocks, or roughly every two weeks, to keep average block production near ten minutes.

When subsidies decline after each halving, mining economics change. In past periods of lower revenue, less efficient miners have shut down equipment and total difficulty has fallen to restore block timing. In 2026 some public mining firms shifted capital toward artificial intelligence infrastructure amid a hashprice downturn.

At 8 a.m. EDT on Aug. 15, 2026, bitcoin traded near $63,000 per coin. A portion of already-mined bitcoin may be permanently inaccessible because private keys are lost or wallets are abandoned. The 2028 halving is the next scheduled reduction in new issuance; observers will track miner revenue, transaction fees and hashrate to monitor how the network adapts to lower subsidy levels.