The Bitcoin “halving” is an event that occurs approximately every 4 years, where the Bitcoin block mining reward halves to reduce Bitcoin’s inflation rate. For example, the last Bitcoin halving was in May 2020, when the block mining reward halved from 12.5 BTC to 6.25 BTC, significantly reducing the number of new coins brought into circulation. The next Bitcoin halving will take place in May 2024, which changes the mining reward from 6.25 BTC to 3.125 BTC. The final Bitcoin halving is estimated to happen in 2140. The last halving will reduce the mining reward to 0 BTC as all 21 million BTC will have been mined.