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      Bitcoin Just Mined Its 900,000th Block – What It Means for Miners and the Next Halving

      Story Highlights
      • Bitcoin just hit block 900,000, marking a key milestone on the road to the 2028 halving.

      • Mining rewards continue to shrink, with over 75% of all BTC already in circulation.

      • JPMorgan reports rising mining profitability in May, as network activity and hashrate grow.

      This is huge news! Bitcoin just crossed a new line in the sand. On Friday, the network hit block 900,000, a milestone that reflects the strength, consistency, and long-game design of the worldโ€™s largest cryptocurrency.

      The block was mined by ViaBTC, one of the industryโ€™s major mining pools, and included 1,562 transactions with relatively low fees (~3 sat/vB), generating 0.018 BTC in transaction rewards. Compared to the block before it – which packed fewer transactions but higher average fees – it was efficient, fast, and right on time.

      But the real story isnโ€™t about this single block. Itโ€™s about what it represents.

      The Halving Is Coming: Where Do We Stand?

      Block 900,000 puts us exactly 150,000 blocks away from the next Bitcoin halving, projected to hit at block 1,050,000 around March 2028. Thatโ€™s when miner rewards will shrink again – from 3.125 BTC to 1.5625 BTC.

      It took Bitcoin nearly two years to climb from block 800,000 to 900,000. If that pace holds, the 1 million block mark will arrive sometime around May 2027. Yes, thatโ€™ll be a historic moment too, but from a network perspective, the countdown to the halving is where the real tension builds.

      The halving can be regarded as a supply shock baked into Bitcoinโ€™s DNA. Each one tightens issuance, raises scarcity, and shifts the economics of mining.

      And thatโ€™s exactly why this matters so much. 

      More Than 75% of Bitcoin Is Already Mined

      This milestone also brings us closer to Bitcoinโ€™s hard-coded supply ceiling: 21 million coins. Right now, more than three-quarters of all BTC that will ever exist is already in circulation.

      Back in the early days, miners earned 50 BTC per block. That number has been cut in half four times now, down to 3.125 BTC post-2024 halving. Over the decades ahead, it will keep shrinking until itโ€™s effectively zero – likely around the year 2140. At that point, miners wonโ€™t earn new BTC from block rewards. 

      Theyโ€™ll be working solely for transaction fees. The shift is not far. 

      Mining Profits Just Got a Boost

      Interestingly, while block rewards are getting smaller, mining profitability actually climbed in May. A recent JPMorgan report shows that the total market cap of 13 U.S.-listed miners tracked by the bank jumped 19% month-over-month.

      Driving that growth? A rise in Bitcoinโ€™s price and a boost in network activity. According to analysts, โ€œbitcoin miners earned an average of $51,600 per EH/s in daily block reward revenue in May, up 16% from April.โ€ Gross profit surged too – up 36% month-over-month to $27,900 per EH/s.

      Among the standouts: IREN posted a 37% jump, while Bitfarms (BITF) lagged behind with an 8% dip. In total, 7 out of 13 miners outperformed Bitcoin itself last month.

      Looking Ahead

      Block 900,000 is a reminder of how deliberately Bitcoin moves through time. Every block is shaping the future economics of the entire network.

      The next halving is getting closer. Mining incentives are shifting. And even as rewards decrease, miner interest and network competition are heating up.

      Bitcoin is growing stronger with every block! 

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