Bitcoin Halving 2024 Purpose. The bitcoin halving refers to the event that reduces the rate at which new bitcoins are issued by 50%. At first, the reward was 50 bitcoins, but later reduced to 25 bitcoins, then to 12.5 bitcoins.
• bitcoin halving, where miners’ rewards are halved, occurs after every 210,000 blocks are mined (approximately every four years). The next bitcoin halving is expected on april 20, 2024 after block 740,000 has been mined.