3 min read · Updated 2026-10-25
When the last bitcoin is mined
Bitcoin's supply is capped at 21 million. Because the subsidy halves every four years, almost all of it is issued early, and the last fraction is expected around the year 2140.
How the cap is reached
The subsidy shrinks geometrically with each halving, so each period adds half as many coins as the one before.
After the subsidy ends
Miners would be paid only by transaction fees. Whether fees alone will be enough to secure the network is an open question debated by the community.
Lost coins
Some bitcoin are lost forever, so the circulating supply is lower than what has been issued.
Frequently asked questions
Can the 21 million cap change?
It is a consensus rule. Changing it would require broad agreement.
Will mining stop in 2140?
Block production continues, but without new issuance.
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KEEP READING
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