The Milestone of 17 Million Bitcoins Mined

This week marks a pivotal moment in blockchain history — miners on both the Bitcoin (BTC) and Bitcoin Cash (BCH) networks have successfully mined 17 million coins each. With a total supply cap of 21 million, this means 80.9% of all BTC and BCH have already been mined, leaving only 4 million remaining across both networks. While it may seem like the final coins will be mined soon, the reality is far more complex due to built-in scarcity mechanisms and halving schedules.

👉 Discover how Bitcoin’s scarcity model drives long-term value

Understanding Bitcoin’s Fixed Supply and Mining Timeline

Bitcoin was designed with digital scarcity at its core. Unlike fiat currencies, which central banks can print endlessly through quantitative easing, Bitcoin has a hard-capped supply of 21 million coins. This finite supply, first proposed by Satoshi Nakamoto, ensures that BTC cannot be devalued through inflation. Once all 21 million bitcoins are mined — expected around the year 2140 — no new coins will ever be created.

The process of mining these coins is intentionally slow and increasingly difficult. Every time a miner validates a block of transactions, they are rewarded with newly minted bitcoins. However, this block reward halves approximately every four years in an event known as the "halving." Currently, the block reward stands at 6.25 BTC per block, down from 12.5 BTC in previous cycles.

Given the current network difficulty and projected hash rate growth, experts estimate that the next halving will occur in 2028, further reducing the reward to 3.125 BTC. This gradual reduction slows down new supply entering the market, reinforcing Bitcoin’s deflationary nature.

Why It Will Take Over a Century to Mine the Final Coin

Although 17 million BTC have been mined in just under 15 years, the remaining 4 million will take significantly longer to extract. This is due to two key factors:

• Exponentially increasing mining difficulty
• Scheduled block reward halvings

Bitcoin adjusts its mining difficulty every 2,016 blocks (roughly every two weeks) to maintain an average block time of 10 minutes. As more computational power joins the network, the difficulty rises to keep pace — making it progressively harder and more expensive to mine new coins.

Bitcoin Cash (BCH), which forked from BTC in 2017, uses a different Difficulty Adjustment Algorithm (DAA) that recalculates difficulty after every single block based on the past 144 blocks. This allows for faster adaptation to changes in hash rate, preventing long delays during periods of low mining activity.

Despite these differences, both networks follow the same halving schedule and share similar long-term mining projections. Experts predict that both BTC and BCH will reach their full supply around 2140, assuming continued network participation and technological stability.

"Mining 80% of Bitcoin in under two decades is a technological triumph — but the last 20% will be the hardest."

Comparing BTC and BCH: Divergent Paths, Similar Scarcity Models

While BTC and BCH share common origins, their development paths have diverged over time. One major difference lies in how they handle mining difficulty:

Note: Table removed per instructions.

Before November 2017, BCH experienced significant fluctuations in block production speed due to less responsive difficulty adjustments. At one point, the BCH blockchain had produced over 7,500 more blocks than BTC, resulting in approximately 94,000 more BCH in circulation temporarily.

However, after upgrading its DAA in late 2017, BCH stabilized its block production rate. Today, both networks produce blocks at nearly identical speeds, and miners no longer frequently switch between chains based on profitability swings.

Still, future shifts in hash rate distribution could alter mining timelines. If one network consistently attracts more miners, its difficulty may rise faster, potentially delaying its final coin issuance compared to the other.

👉 Learn how mining dynamics shape cryptocurrency value

The Significance of Digital Scarcity in Modern Finance

Satoshi Nakamoto’s vision wasn’t just about creating a decentralized currency — it was about introducing digital scarcity into a world dominated by infinite money printing. Central banks often respond to economic crises by flooding markets with newly printed fiat currency, diluting purchasing power and fueling inflation.

In contrast, Bitcoin’s predictable issuance schedule makes it immune to such manipulation. Its transparent monetary policy — hardcoded into the protocol — ensures that everyone knows exactly how many coins will exist at any given time.

Even when all 21 million bitcoins are mined, the network will remain functional. Miners will continue securing the blockchain through transaction fees rather than block rewards, incentivizing honest behavior through economic means.

Moreover, Bitcoin supports up to eight decimal places (satoshis), meaning users can transact with fractions as small as 0.00000001 BTC. This micro-divisibility ensures usability even if demand grows to meet global adoption levels.

Frequently Asked Questions (FAQ)

How many bitcoins are left to mine?

Approximately 4 million bitcoins remain unmined out of a total supply of 21 million. With over 17 million already in circulation, only about 19% of the total supply is left to be extracted over the next century.

When will the last bitcoin be mined?

The final bitcoin is projected to be mined around 2140, assuming the current halving schedule and difficulty adjustment mechanisms remain unchanged.

What happens when all bitcoins are mined?

Once all bitcoins are mined, miners will no longer receive block rewards. Instead, they’ll earn income solely from transaction fees, which are expected to increase in value as network usage grows.

Why does Bitcoin take so long to mine all coins?

Bitcoin’s slow emission schedule is intentional. By gradually reducing block rewards every four years and adjusting mining difficulty dynamically, the system maintains scarcity, security, and inflation resistance.

Is Bitcoin Cash following the same mining timeline as Bitcoin?

Yes, Bitcoin Cash also has a 21 million coin cap and follows a similar halving schedule. Despite technical differences in difficulty adjustment, both networks are expected to mine their final coins around the same time — approximately 2140.

Can more than 21 million bitcoins ever be created?

No. The 21 million supply limit is enforced by consensus rules across the Bitcoin network. Any attempt to increase it would require near-universal agreement from users, miners, and developers — an extremely unlikely scenario.

👉 Explore how digital scarcity creates lasting value in crypto

Celebrating a Decade of Decentralized Innovation

Reaching the 17 million mark is more than just a number — it’s proof of Bitcoin’s resilience and growing adoption. In less than 15 years, what began as an obscure whitepaper has evolved into a global financial movement built on proof-of-work, decentralization, and mathematical certainty.

While only 4 million coins remain, the journey ahead will test scalability, sustainability, and long-term incentives like never before. Yet one thing remains clear: Bitcoin’s design ensures that scarcity isn’t just a feature — it’s the foundation.

As mining becomes increasingly competitive and rewards dwindle, the focus will shift toward network security, transaction efficiency, and user adoption. The next era of cryptocurrency won’t be defined by who mines the most — but by who builds the most useful applications on top of this revolutionary technology.

Keywords: Bitcoin mining, digital scarcity, BTC halving, Bitcoin Cash, blockchain technology, proof-of-work, mining difficulty, 21 million Bitcoin