How many Bitcoins are generated every day?

As of September 19, 2023, approximately 900 Bitcoins are generated daily, with the block generation rate halving every four years until all 21 million Bitcoins are mined, estimated to occur around 2140.

Sep 27, 2024 at 05:06 pm

How Many Bitcoins Are Generated Every Day?

1. Genesis Block and Block Reward:

• The first Bitcoin block, known as the Genesis Block, was created on January 3, 2009, by Satoshi Nakamoto.
• Initially, a block reward of 50 Bitcoins was granted to miners for verifying each block.

2. Halving Events:

• Every 210,000 blocks (approximately four years), the block reward halves.
• The most recent halving occurred on May 11, 2020, reducing the reward to 6.25 Bitcoins per block.

3. Daily Generation:

• To estimate the daily Bitcoin generation, we need to consider the block generation time and the block reward.
• The average block generation time is approximately 10 minutes.

4. Calculation:

• Let's assume a block generation time of 10 minutes.
• In a day (24 hours), there are 144 blocks generated (1,440 minutes / 10 minutes per block).

• With a block reward of 6.25 Bitcoins, the daily Bitcoin generation is:

• blocks/day × 6.25 BTC/block = 900 BTC/day

5. Current Generation Rate:

• As of September 19, 2023, the estimated daily Bitcoin generation is approximately 900 BTC.

6. Limited Supply:

• The total supply of Bitcoins is capped at 21 million. Once all 21 million Bitcoins are mined, no new Bitcoins will be generated.
• It is estimated that the last Bitcoin will be mined around the year 2140.