More Than 95% Of Bitcoins Have Already Been Mined

When the new coins stop appearing.

The bitcoin network has mined nearly 95% of all existing coins, or about 19.9 million BTC ($2.36 trillion). This means that miners of the first cryptocurrency have approximately 1.1 million coins ($130 billion at the July 22, 2025 exchange rate) left to create, according to the Clarkmoody dashboard.

Bitcoin issuance is limited at the software level and cannot exceed 21 million BTC. Since the blockchain is a digital ledger that records all cryptocurrency transactions, including newly created (mined) bitcoins, this allows for an online record of all coins.

The bitcoin issuance mechanism is predictable, and it is possible to know ahead of time how many coins will be created and when, with a slight variation in time, but not in amounts. For example, it is known that 99% of all BTC coins will be mined in January 2035.

The mark of 94% of BTC coins passed in mid-2024, and 90% in late 2021. The mining rate of the first cryptocurrency is being reduced through so-called halving, a mechanism embedded in the code to reduce issuance. Bitcoin halving occurs approximately every four years, or more precisely, every 210 thousand new blocks completed by miners. Each halving halves the number of bitcoins that miners receive as a reward per block.

When bitcoin was launched in 2009, miners received 50 bitcoins per block, but that reward was reduced to 25 bitcoins during the first halving in 2012, 12.5 BTC in 2016, 6.25 BTC in 2020, and 3.125 coins in 2024. The next halving is expected in 2028, followed by around 2032.

Historically, it is the bitcoin halving that has become the benchmark for price dynamics in the crypto market. Since 2013, shortly after each halving, the bitcoin price and the capitalization of the rest of the crypto market have been updating their highs. For example, at the end of 2013, about a year after the halving, bitcoin reached $1.2k. In the next market cycle, at the end of 2017, the high was $20k per bitcoin. At the end of 2021 - $69 thousand. However, 2024 went beyond the previous bitcoin price cyclicality: this time the quotations exceeded the previous maximum for the first time before the halving occurred - in March, the BTC price rose to $73 thousand, and the halving was in April 2024.

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