What is a Bitcoin block halving event?

Block halving events happen every 4 years or 210,000 blocks on Bitcoin blockchain. Bitcoin's initial block reward was 50 BTC. The current block reward is 3.125 BTC, the next block reward will be 1.5625 BTC. This lowers the rate at which Bitcoins are generated. The halving is periodical and is programmed into Bitcoin's code.

Why was this done?

Conventional FIAT currencies are subject to inflation due to the ability of governments or banks to increase the money supply. Unlike these currencies, Bitcoin has a capped total supply of 21,000,000 BTC, meaning no additional coins can be created beyond this limit. This finite supply, alongside potential changes in demand as more people adopt Bitcoin, positions it similarly to gold - a resource with a limited supply that cannot be artificially increased.

Bitcoin and NiceHash

NiceHash seamlessly integrates with Bitcoin, offering users versatile ways to engage with the crypto mining and trading ecosystem. Here's how NiceHash enhances your Bitcoin experience:

• Buy hashrate: Use Bitcoin to purchase mining power, making it easy to mine your favourite cryptocurrencies without owning physical hardware. Learn how to easily buy hashrate here.
  
  
• Sell hashrate: Earn Bitcoin by selling your mining power on NiceHash, simplifying how you receive your rewards. Learn more here.
  
  
• Secure Wallet Management: Manage and withdraw your Bitcoin earnings with your NiceHash wallet, including options for automatic transfers to external or cold wallets for additional security. Create an account here.