The Bitcoin network has reached a historic milestone with the mining of the 20 millionth bitcoin, leaving only 1 million BTC remaining before the cryptocurrency reaches its hard-coded supply limit of 21 million coins.
The milestone occurred at:
- Block Height: 940000
- Timestamp (UTC): 1:38 pm Monday, 9 March 2026
- Block Reward: 3.125 BTC
- Miner: Foundry USA
With this event, more than 95% of Bitcoin’s total supply is now in circulation, highlighting the asset’s unique scarcity model compared to traditional currencies.
Bitcoin’s Circulating Supply Crosses 20 Million
Bitcoin’s monetary policy is defined by code. The protocol limits the total supply to 21 million BTC, making it one of the few financial assets with a fully predictable issuance schedule.
With the 20 millionth coin now mined:
- Total BTC mined: 20,000,000
- Remaining BTC to mine: ~1,000,000
- Percentage of supply issued: ~95.24%
- Maximum supply: 21,000,000 BTC
The remaining coins will be mined gradually over the next century as Bitcoin’s issuance rate continues to slow through its programmed halving mechanism.
Bitcoin Block #940,000 Milestone
Bitcoin reached a major milestone with the mining of Block #940,000 by Foundry USA on March 9, 2026 at ~13:40 UTC. The block included 2,954 transactions and had a difficulty of ~145.04T, with a block size of 1,785,596 bytes. Miners received the standard 3.125 BTC block subsidy along with 0.04113111 BTC in transaction fees, bringing the total reward to 3.16613111 BTC.
This block pushed Bitcoin’s circulating supply past 20,000,000 BTC, leaving about 1,000,000 BTC remaining to be mined out of the 21 million maximum supply. Following the 2024 halving, Bitcoin’s new issuance is roughly 450 BTC per day, reinforcing its fixed and scarce supply model.
Why the 20 Million BTC Milestone Matters
The mining of the 20 millionth bitcoin represents one of the most important supply milestones in the network’s history.
1. Increasing Scarcity
Only about one million bitcoins remain to be created, representing less than 5% of the total supply.
Because new coins are issued at a declining rate, the remaining supply will take more than 100 years to fully enter circulation.
2. Slowing Bitcoin Issuance
Following the April 2024 halving, the block reward dropped to 3.125 BTC per block.
With blocks produced roughly every 10 minutes, around 450 new BTC are created per day.
3. Long-Term Supply Predictability
Bitcoin’s issuance schedule is completely transparent and cannot be changed without a network consensus upgrade. This predictable supply curve is one reason Bitcoin is frequently described as “digital gold.”
The Final Million Bitcoin
Although only 1 million BTC remain, those coins will be mined extremely slowly.
Bitcoin halvings occur every 210,000 blocks (approximately four years), reducing the mining reward by half each cycle.
Future milestones include:
| Event | Estimated Year |
|---|---|
| 20 Million BTC mined | 2026 |
| Next Bitcoin Halving | 2028 |
| Block Reward | 1.5625 BTC |
| Final Bitcoin mined | ~2140 |
By the time the final bitcoin is mined around 2140, miners are expected to rely primarily on transaction fees rather than block rewards to secure the network.
A Major Moment in Bitcoin’s Monetary History
The mining of the 20 millionth bitcoin marks a defining moment in Bitcoin’s evolution.
More than 16 years after the network launched in 2009, the cryptocurrency has now issued the vast majority of its supply while maintaining the same monetary rules embedded in its protocol.
With only one million BTC left to be mined, Bitcoin’s scarcity narrative is becoming increasingly central to its role in global financial markets.
