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The 2020 Bitcoin Halving: What We Know And What to Expect? Bitcoin halvings take place about once every four years, or once every 210,000 blocks. Halvings are events where the number of Bitcoins miners receive when they find new blocks is cut in half. The first reduction happened on November 28, 2012 and the second on July 9, 2016. The halving events will cease once all of the 21 million total possible Bitcoins are mined, which is supposed to occur approximately in the year 2140.