Bitcoin has successfully gone through its fourth-ever halving event after posting its 840,000th block, the point at which mining rewards are slashed in half once again.
It is a programmed process in the Bitcoin protocol that happens every 210,000 blocks mined, which equates to roughly every four years. By cutting mining rewards in half, this process effectively slows down the rate at which new Bitcoin is created.Major Bitcoin miners have been getting ready for the event.Meanwhile, in December 2023, competitor Bitcoin mining firmRelated:The Bitcoin halving is a pivotal event that historically signals a shift in the market, usually initiating a bullish trend over the following months.
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