Bitcoin (BTC) marks a milestone mining journey on Thursday, crossing the halfway point on the way to its next halving. 

In Block number 735,000, mined at approximately 10:29 am UTC, Bitcoin crossed the halfway point to the next halving. The block was mined by Poolin, earning 0.16215354 BTC ($6,402.45) in fees. 

Halvings occur every 210,00 blocks, and May 5 marks the cross-over point into the second leg of 105,000 blocks. For some Bitcoiners, such as Samson Mow, the Bitcoiner pioneering Bitcoin nation-state adoption, the halving is a reminder to stack more SATs:

The halving cycle is a unique device that envelops the Bitcoin issuance rate. As the Cointelegraph Cryptopedia explains, “As a result of the halving cycle, the supply of available Bitcoin decreases, raising the value of Bitcoins yet to be mined.” 

The halving is key in determining the supply of Bitcoin at 10:29 am UTC — which recently crossed the milestone 19 million mark — and the issuance rate, currently at 6.25 new BTC per roughly 10 minutes. In essence, roughly $250,000 worth of BTC is minted with every new block.

The next halving is due to take place in April 2024, and the previous halving occurred on May 11, 2020 as Bitcoin entered its fourth “epoch.” The system will continue until roughly 2140 when the last Bitcoin is mined.

The issuance rate and the “supply shock” that accompanies the halving have a significant impact on the price

As shown in the box above, the Bitcoin…

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