After the 2024 Bitcoin halving, miners receive 3.125 bitcoins for each successfully mined block. The reduction took effect at block 840,000, cutting the previous 6.25-BTC block subsidy in half.
Bitcoin’s protocol schedules these subsidy reductions roughly every 210,000 blocks, or about four years. The purpose is to control the rate at which new coins enter circulation. The first reward was 50 BTC per block in 2009, followed by reductions to 25 BTC in 2012, 12.5 BTC in 2016, 6.25 BTC in 2020, and 3.125 BTC in 2024.
The 3.125 BTC figure is only the newly created subsidy. Miners can also collect transaction fees from the transactions included in their blocks, so their total revenue may be higher or lower depending on network activity and the market price of bitcoin.
Another common mistake is answering 1.5625 BTC, which is the expected subsidy after the next halving. The halving does not reduce existing balances; it changes the rate at which new bitcoin is issued. Eventually, the subsidy will approach zero, with fees becoming increasingly important.