How Many Bitcoins Have Been Mined?

Tracking how many bitcoins have been mined is relatively simple, especially with the real-time online information provided here on this site.

How many Bitcoins have been mined as of today?

For me it’s so easy to know how many bitcoins have been mined so far. By querying the blockchain directly, I can obtain precise and up to date information on how many bitcoins have been mined, among other statistics. These statistics about how much bitcoins in circulation are updated daily.

Everything related to Bitcoin transactions and the mining process is recorded on the Bitcoin blockchain, a transparent and immutable ledger that allows anyone to verify the authenticity and history of all transactions. This transparency and accessibility to data is one of the unique aspects of blockchain technology, making it easier for individuals and investors to stay updated with the current state of the Bitcoin network and every one to know

How to calculate how many Bitcoins have been mined?

The total number of bitcoins mined is a function of the block reward and the number of blocks mined. The formula to calculate the total number of bitcoins mined after N halving events is:

This formula sums up the block rewards for each era of Bitcoin mining, from the initial block reward to the current block reward after N halving events.

If you want to code the formula, you can use a programming language like Python. Here’s how you could do it:

def bitcoins_mined(N):
    total_bitcoins = 0
    for n in range(N + 1):  # +1 to include the N-th halving event
        block_reward = 50 * (0.5 ** n)
        bitcoins_in_era = block_reward * 210000
        total_bitcoins += bitcoins_in_era
    return total_bitcoins

# Assume 3 halving events have occurred (which is true as of 2020)
N = 3
total = bitcoins_mined(N)
print(f'Total bitcoins mined after {N} halving events: {total}')

First bitcoin era 2009 – 2012

• Block reward = 50 BTC
• Number of blocks = 210,000
• Bitcoins mined = 50×210,000=10,500,000 BTC

Second Bitcoin era 2012 – 2016

• Block reward = 25 BTC
• Number of blocks = 210,000
• Bitcoins mined = 25×210,000=5,250,000 BTC

Third Bitcoin era 2016 – 2020

• Block reward = 12.5 BTC
• Number of blocks = 210,000
• Bitcoins mined = 12.5×210,000=2,625,000 BTC

Fourth Bitcoin era 2020 – 2024

• Block reward = 6.25 BTC
• Number of blocks = 210,000
• Bitcoins mined = 6.25×210,000=1,312,500 BTC

To find out how many bitcoins are there in circulation since the end of the last halving, you just need to collect the previous data. To calculate how many bitcoins have been mined

Total bitcoins mined on the date of next Bitcoin halving will be =10,500,000+5,250,000+2,625,000+1,312,500=19,687,500 BTC

This total represents the number of bitcoins mined from the genesis block up to the block after the third halving event. This method of calculation can be extended to any number of halving events by continuing the sum as per the formula I provided:

Fifth Bitcoin era 2024 – 2028

• Block reward = 3.125 BTC
• Number of blocks = 210,000
• Bitcoins mined = 3.125×210,000=656,250 BTC

Sixt Bitcoin era 2028 – 2032

• Block reward = 1.5625 BTC
• Number of blocks = 210,000
• Bitcoins mined = 1.5625×210,000=328,125 BTC

So you can go ahead and calculate for each era how many bitcoins will be mined in the future.

How many bitcoins are mined every 4 years?

How many bitcoins have been mined today?

Every day the process of Bitcoin mining continues, with around 900 bitcoins being mined per day as of 2023​. You could learn more at How Many Bitcoins are Mined Per Day?

The amount of bitcoins mined per day and the remaining bitcoins to be mined hold significant implications for investors, miners, and the broader cryptocurrency ecosystem. The scarcity of Bitcoin is a defining feature that differentiates it from traditional fiat currencies and contributes to its perception as a store of value.

A note from AltcoinsBOX.com

Now you know how many bitcoins are currently in circulation and also the data is updated daily. The narrative of how many bitcoins have been mined is intertwined with the broader narrative of Bitcoin’s journey as a decentralized, deflationary asset. As we inch closer to the 21 million cap, the dynamics of mining and the economics of Bitcoin are set to evolve, continuing to captivate individuals and markets worldwide.

Vincent Pelosi

I am a crypto journalist and blockchain expert. I like technology and started reading about bitcoin in 2013. Crypto is my passion and I like to write about cryptocurrencies.

P.S.
When I wrote the article “How Many Bitcoins Have Been Mined?” I analyzed statistics from various reliable sources. Always verified information from the Genesis code.