Tuesday, April 16, 2024

Only 2 million bitcoins remain for mining

Satoshi Nakamoto has determined that the total number of bitcoins in circulation will ever be 21 million. Of that, 19 million have now been mined, and the remaining two million will be mined for more than 100 years


1 min read

This Friday, April 1, 19 millionth Bitcoin was mined. This means that, according to the plan of the initiator of this cryptocurrency, Satoshi Nakamoto, there are only 2 million bitcoins left to create. The jubilee bitcoin was mined by SBI Crypto, earning a well-deserved prize of 6.25 bitcoins.

This significant “round” number of available bitcoins was reached only three and a half months after another important event was marked – in December, the threshold of 90% of all bitcoins that will ever exist was crossed. The threshold of 18.5 million bitcoins was reached in September 2020.



Thanks to Satoshi’s plan, mining rewards are progressively declining, and the weight of the deal is increasing, so the remaining two million bitcoins will be mined significantly longer than it took to create the first 19 million. According to current estimates, the last bitcoin should be created around 2140. The next “halving”, ie the reduction of the mining prize by half, will take place in 2024.

Circulating Bitcoin
Photo source: Cointelegraph/blockchain.com


When it comes to mining intensity, the so-called hash rate, these days is at its historically highest levels – it has exceeded 200 million TH / s (terahash per second). The complexity of mining is also, accordingly, at the bent highest levels.

Bitcoin Network Diffuculty
Photo source: Cointelegraph/blockchain.com


Given the planned reduction in supply, mining worldwide is expected to continue to increase.







Dudescode.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com