How many bitcoins are left to mine: the 21 million limit and halving schedule
Bitcoin was created with a hard supply cap. No more than 21 million coins can ever exist, and almost all of that amount is already in the network (as of 10/2026, CryptoSlate). Every four years the miner reward drops, so new coins appear more and more slowly.
About 20 million coins out of 21 million have been mined. Fewer than a million remain, and the last bitcoin is expected around 2140.
Below we break down where the limit came from, how the halving works, and what it means for price and risks.
What the hard limit of 21 million means
💡 In short:
- Bitcoin's maximum supply is capped at 21 million coins.
- By 2026 about 20 million have been issued, with less than 5 percent remaining.
- New coins appear only as a miner reward for a block.
- The reward is cut in half every 210,000 blocks.
- Number of mined coins: as of 10/2026, per CryptoSlate; reward schedule: per Bitbo.
Bitcoin's code contains a hard limit: exactly 21,000,000 coins can ever be issued. This cap cannot be changed by a company decision or a vote, because it is set by the algorithm and is identical for all network participants.
The idea of a fixed supply was formulated by Satoshi Nakamoto in 2008 in the original protocol description (per the Bitcoin Whitepaper). Unlike conventional currencies, where the money supply is determined by a central bank, bitcoin has a predetermined number of coins.
This limit creates scarcity: the closer issuance gets to the cap, the fewer new coins enter the market. You should factor this into any analysis, because supply changes on a fixed schedule.
How many bitcoins have already been mined and how many remain
By 2026 miners have issued around 20 million coins out of 21 million. Fewer than a million remain to be mined, or roughly 5 percent of the possible total.
A breakdown of the topic with calculations is published by the Margex crypto exchange blog: how many bitcoins are left. There, issuance is shown over time rather than as a single number.
You can verify issuance yourself: data on the number of issued coins is open and available in any blockchain explorer, so the same figure is easy to cross-check across multiple sources.
How the halving works: the block reward schedule
Every 210,000 blocks, roughly every four years, the miner reward per block is cut in half (as of 10/2026, Bitbo). This event is called the halving, and it determines the entire issuance schedule.
History of block rewards:
Year | Block reward |
|---|---|
2009 | 50 BTC |
2012 | 25 BTC |
2016 | 12.5 BTC |
2020 | 6.25 BTC |
2024 | 3.125 BTC |
2028 (expected) | 1.5625 BTC |
After April 2024 the reward is 3.125 BTC per block. The next halving is expected around 2028, when the reward will drop to 1.5625 BTC.
Issuance slows down automatically this way, so you don't need to track regulator decisions: the schedule is set by block count, not by the calendar.
When the last bitcoin will be mined
The reward keeps shrinking, so toward the end of the period miners will receive only tiny fractions of a coin. By most estimates, the last bitcoin will appear around 2140. An exact date cannot be given, because halvings are tied to block count.
After that, no new coins are issued at all, and the release of the remaining portion will stretch over decades: each new batch will be smaller than the previous one. It's important to understand that the finiteness of issuance does not depend on price or demand.
Why mining is still needed after the limit
Mining is not just about issuing coins: miners validate transactions and assemble them into blocks, so without them the network does not work. Here are the main tasks:
- Validating transactions and assembling new blocks from the network queue.
- Distributing computing power, which reduces the risk of collusion.
- Transparent reward rules for all network participants.
When issuance stops, you will not lose access to the network. Miners will earn only from transaction fees. Network security will then be paid for by senders themselves, not by new coins.
What this means for price and risks
Historically, bitcoin's price has risen noticeably after halvings. But that is past data, not a guarantee for the future: a supply reduction does not have to repeat the previous result.
This material is for informational purposes only and does not replace professional advice. Crypto assets are volatile, and investor protection in the EU is limited (per the EU supervisory authorities' warning, 10/2025). You should check the regulation in your own country before making any decisions.
⁉️🤔 Frequently asked questions
How many bitcoins can still be mined?
About one million coins. By 2026 roughly 20 million out of 21 million have been issued, so the remaining amount is below 5 percent of the limit. Mining will continue in small batches for many more decades.
When will the last bitcoin appear?
Approximately around 2140. By then the block reward will have fallen to nearly zero, and issuance will stop on its own. Nobody can give an exact date, because the schedule is tied to block count, not to the calendar.
How many bitcoins exist in total?
A maximum of 21 million coins. No more will ever appear, because the cap is written into the protocol's code. The formal limit does not change over time, so the final amount is known in advance.
Why does bitcoin have a limit?
The limit exists to avoid inflation and create scarcity. A fixed supply sets bitcoin apart from conventional currencies, where the money supply is determined by a central bank. That is why the model is called predictable.
What will happen after the last bitcoin?
Miners will switch to being paid only from transaction fees. The block reward will become zero, but transaction validation will continue, so the network will remain operational. How high the fees will be is unknown in advance.
In short: what to check before making a bitcoin decision
Bitcoin's issuance is nearly exhausted: out of 21 million coins, about 20 million have been issued, and the last coins will appear by 2140. Beyond that, everything depends on what matters most to you.
- If predictable issuance matters to you, keep in mind the hard limit of 21 million coins.
- If you are watching the timeline, the next halving is expected in 2028.
- If you are interested in returns, factor in volatility and limited protection in the EU.
Before any decision, verify issuance and risk data against primary sources, not against promises of returns.
A small editorial team writing guides for independent travel. We travel ourselves, but we haven’t been everywhere, so we check prices, opening hours and how to get there against official sources.