Bitcoin’s fourth halving is now well in the rearview mirror as fewer than 100,000 blocks remain. The network is entering the final stretch before the next reward cut, expected around April 2028.
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Key Takeaways:
- Fewer than 100,034 Bitcoin blocks remain until the halving at block 1,050,000, expected April 2028.
- The reward will drop from 3.125 to 1.5625 $BTC per block, putting new pressure on bitcoin miners’ margins.
- Strategy and Blackrock together hold over 1.66 million $BTC heading into the supply-reduction event.
The Clock Is Ticking on Block 1,050,000
Live data shows fewer than 100,034 blocks remain between today and Bitcoin’s next halving, pegged at block 1,050,000, the first major countdown marker since the April 2024 halving sent block 840,000 into the history books.
At the current average block time of around 10 minutes and 6 seconds, approximately 100,000 blocks translate to roughly 694 days, placing the next halving in the April 17–19, 2028 range. The event will cut the block reward from its current 3.125 bitcoin per block to 1.5625 bitcoin, with this being the last halving in which the reward includes a whole number of coins. The Bitcoin network is currently 52% of the way through its current four-year cycle.
Why 2028 Is Different From Every Prior Halving
Previous halvings in 2012, 2016, 2020, and 2024 all occurred before spot bitcoin exchange-traded funds (ETFs) existed at scale in the U.S., with the 2028 event being the first to unfold in an environment where institutional accumulation is not just present but historically large.
Strategy currently holds 843,738 bitcoin, and Blackrock holds 817,138, roughly 7.9% of the total 21 million coin supply cap. Also, while the April 2024 halving was widely viewed as a turning point for miner economics, the 2028 halving could introduce even greater pressure where miners that cannot reduce their all-in production costs below the new block reward economics may face margin compression regardless of where bitcoin’s price trades.
Historically, each halving has resulted in near-term miner stress followed by either a shakeout of less-efficient operators or a price recovery that restores profitability. With Bitcoin’s hashrate having hit record highs through 2025 and into 2026, competition heading into 2028 is at its most intense level yet.
For long-term investors, the 100,000-block marker is another potent reminder that Bitcoin’s programmatic supply mechanics (which lie at the very foundation of its scarcity argument) are moving into clear view once again.
