Bitcoin has passed 20 million coins mined and less than 1 million BTC remain to be mined within the network’s 21 million supply cap. The move pushes the amount of Bitcoin in circulation slightly higher since the network first crossed the 95% supply threshold in November 2025.
According to blockchain data, this milestone was recorded at block height 939,999, a block mined by the Foundry USA mining pool.
With 20 million bitcoins currently mined, less than one million BTC will remain in circulation, and those remaining coins will be gradually distributed over the next 114 years as block rewards decrease through programmed network halving cycles.
Bitcoin was launched in January 2009 with a block reward of 50 BTC, programmed to reduce every 210,000 blocks approximately every four years. The last halving on April 20, 2024 reduced the reward from 6.25 BTC to 3.125 BTC per block, further slowing the rate of new supply entering the market.
At the current reward level, miners will produce around 450 BTC per day, compared to around 900 BTC per day before noon in 2024. In addition to block rewards, miners will also earn transaction fees, which are expected to become the network’s main source of revenue as new issuance slows down.
A portion of the mined bitcoins remain permanently unspent, totaling around 230 BTC, including the block reward from the Bitcoin genesis block and other results generated by scripts that make them unspent.
Analysts also estimate that three to four million BTC could be permanently lost due to misplaced private keys, abandoned hardware, and inaccessible wallets from the early years of the network. When accounting for these lost coins, the amount of Bitcoin for effective trading may only be 30% to 40% of the total amount mined.
