The 20 millionth Bitcoin has been mined, with less than 1 million left in the remaining supply

BlockBeats News, March 9th, on-chain data shows that after 17 years and over two months since the birth of the Bitcoin Genesis Block in January 2009, the network has crossed one of its most significant milestones by now having mined a total supply exceeding 20 million coins.

This milestone was reached at block height 939,999, with the current block reward standing at 3.125 BTC.

Back in November, the network had already surpassed 95% of the total supply. As the network has gone through multiple halving events, the rate of new issuance has gradually slowed down, with the remaining mineable block rewards now being less than 1 million BTC, eventually leading miners to rely entirely on transaction fees.

The next halving is expected to take place on April 11, 2028. Due to each halving further reducing the issuance, the remaining supply will be released at an increasingly slower pace. Analysts estimate that the last million coins will take over a century to mine, with the smallest unit, Satoshis, expected to be issued around 2140.