Bitcoin (BTC) is the first decentralized cryptocurrency, launched in 2009. It allows people to transfer funds directly to each other without banks. All transactions are recorded on a public blockchain, and the network is maintained by independent participants.
One of the key features of Bitcoin is its limited supply of 21 million BTC. Let us look at how many bitcoins have been mined, how many are left, and when mining will end.
How Does Bitcoin Mining Work?
Mining is the process of adding new blocks to the Bitcoin blockchain. Miners use computing power to confirm transactions and keep the network secure.
For adding a block, a miner receives a reward in the form of newly issued bitcoins and transaction fees. On average, a new block is created every 10 minutes.
The number of new BTC issued gradually decreases due to a mechanism called halving.
How Many Bitcoins Have Been Mined?
As of October 2026, more than 20 million BTC have been mined, representing over 95% of the maximum supply of 21 million coins. The exact number changes as new blocks are added. You can check the latest figures using the Explorer.
Some bitcoins may be permanently lost, for example, if their private keys are lost. These coins remain on the blockchain, but their owners can no longer access them.
What Is Bitcoin Halving?
Halving is a mechanism that cuts the block reward miners receive in half every 210,000 blocks. This usually happens about once every four years.
In 2009, the reward was 50 BTC per block. After several halvings, it has dropped significantly.
The latest halving took place in April 2024, reducing the reward from 6.25 to 3.125 BTC. The next halving is expected around 2028, when the reward should fall to 1.5625 BTC.
Thanks to halving, new bitcoins enter circulation at a slower rate over time.
When Will the Last Bitcoin Be Mined?
According to current estimates, the last fractions of Bitcoin will be mined around 2140.
This is because the block reward gradually decreases, slowing down the creation of new coins. Although most bitcoins have already been mined, issuing the remaining coins will take many more decades.
What Happens When Bitcoin Mining Ends?
When new bitcoins are no longer issued, the network will not stop working. Miners will still be able to confirm transactions and earn fees from users.
These fees will become the main source of miner revenue. However, the long-term security of the network will depend on whether transaction fees provide enough incentive for miners to continue their work.
Can Bitcoin Be Used for Payments?
Bitcoin can be used to transfer funds and pay for goods and services. However, price volatility and network fees can affect the cost of payments.
That is why businesses also use stablecoins such as USDT and USDC, which are pegged to a specific currency.
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Conclusion
Bitcoin has a maximum supply of 21 million BTC, and more than 95% of that supply has already been mined. Thanks to halving, the remaining coins are expected to be issued gradually until around 2140.
Even after mining ends, the network will continue to operate through transaction fees. Limited supply remains one of Bitcoins key features, but its market value still depends on demand and other factors.
