Bitcoin celebrates 12 years since its first halving event, with block rewards shrinking to 3.125 BTC and miners adapting to higher difficulty amid rising prices.
Bitcoin, the largest cryptocurrency by market capitalization, went through its first-ever halving event 12 years ago today, reducing block rewards from 50 BTC to 25 BTC.
Since then, Bitcoin block rewards — crypto miners’ incentives for verifying Bitcoin (BTC) transactions and securing the network — have shrunk to 3.125 BTC following three more halvings, significantly limiting the supply of freshly mined BTC entering the market.
Bitcoin’s 12th halving anniversary comes amid BTC trading close to its all-time high of around $99,600 set on Nov. 22, partly contributed by Bitcoin’s fourth halving event in April.
