Bitcoin has passed 20 million mined coins, leaving fewer than 1 million BTC remaining to be issued under the network’s fixed 21 million supply cap. The move pushes the amount of Bitcoin in circulation slightly higher after the network first crossed the 95% supply threshold in November 2025.
The milestone was recorded at block height 939,999, according to blockchain data, with the block mined by the Foundry USA mining pool.
With 20 million Bitcoin now mined, fewer than one million BTC remain to be issued, and those remaining coins will be distributed gradually over the next 114 years as block rewards decline through the network’s programmed halving cycles.
Bitcoin’s issuance began in January 2009 with a block reward of 50 BTC, programmed to halve every 210,000 blocks, roughly every four years. The most recent halving on April 20, 2024 reduced the reward from 6.25 BTC to 3.125 BTC per block, further slowing the pace of new supply entering the market.
At the current reward level, miners collectively produce about 450 BTC per day, compared with about 900 BTC daily before the 2024 halving. In addition to block rewards, miners also earn transaction fees, which are expected to become the primary revenue source for the network as new issuance continues to decline.
A portion of mined Bitcoin remains permanently unspendable, totaling about 230 BTC, including the block reward from Bitcoin’s genesis block and other outputs created with scripts that make them impossible to spend.
Analysts also estimate that between three and four million BTC may be permanently lost due to misplaced private keys, discarded hardware, and inaccessible wallets from the network’s early years. When accounting for these lost coins, the amount of Bitcoin effectively available for trading may represent only 30% to 40% of the total mined supply.
