DECIPHER

Bitcoin mining is the process of updating the ledger with the most recent block of transactions. All of the “miners” are competing to update the ledger, and whoever wins the competition, updates the ledger and gets the mining reward, which right now, is 6.25 bitcoin.

A block of transactions is mined every 10 minutes (roughly), so that means every 10 minutes, 6.25 bitcoin is entered into the circulating supply. This mining reward is reduced by 50% roughly every 4 years. The mining reward in 2009 was 50 BTC, then in 2013 it was 25 BTC, then in 2017 it was 12.5 BTC, and now it is 6.25 BTC, it will continue to halve until there’s nothing left to mine.