Bitcoin block reward halving

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Bitcoin block reward halving process happens every 210,000 blocks are mined (Approximately every 4 years). Every time a new bitcoin block is mined (approximately every 10 minutes) the miner is awarded bitcoins. In 2009, during bitcoins inception the miners were awarded 50 bitcoins per block. The process of halving will continue until the block reward per block becomes 0 (approximately in year 2140). As of 2023 the block reward is 6.25BTC and will decrease to 3.125BTC sometime in 2024.

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