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Nov 28, 2012 The first Bitcoin halving
On November 28, 2012, at block 210,000, the reward for mining a block fell from 50 BTC to 25 BTC. It was the first halving.
- Date
- Nov 28, 2012
- Block
- 210,000
- Reward
- 50 → 25 BTC
What happened
Bitcoin’s code cuts the block reward in half roughly every four years (every 210,000 blocks). The first cut proved the schedule works as written: no one voted on it and no one could stop it.
The price was around $12 when it happened. Within a year it passed $1,000 for the first time, which is why halvings are watched closely, although the link between a halving and the price is debated.
Why it mattered
Halvings make Bitcoin’s supply schedule visible. See the full list on the halving page, with the countdown to the next one.