Bitcoin's supply is nearing its maximum, with 20.05 million BTC already mined out of the fixed 21 million cap, leaving approximately 950,000 BTC yet to be issued. According to the current halving schedule, the last Bitcoin is projected to be mined around the year 2140.
New Bitcoins are now generated at a rate of about 3.125 BTC every 10 minutes. This rate will halve again during the next scheduled halving event, expected in 2028, reducing the block rewards miners receive. Each halving event decreases the issuance rate, which means the final portion of Bitcoin will take several decades to be released into circulation.
Once the last Bitcoin is mined, miners will no longer earn block rewards. Instead, their revenue will come solely from transaction fees paid by users. Currently, miners benefit from both newly minted Bitcoin and transaction fees, but post-2140, the mining ecosystem will depend entirely on fees to cover operational costs and profit.
Binance recently highlighted this transition in a tweet, explaining that the remaining Bitcoins will be gradually issued over more than 100 years due to the halving process. This supply cap is a fundamental element of Bitcoin's design, influencing its scarcity and long-term value proposition.
Adjustments in miner incentives will likely affect the network's fee market and transaction processing dynamics. As block rewards phase out, miners' reliance on transaction fees may lead to shifts in fee levels and prioritization of transactions.
