Bitcoin Halving 2024. While it cuts the new bitcoin issuance rate and bitcoin miner rewards in half, its impact on price of. Bitcoin halving is the process in which the reward for bitcoin miners is cut in half, reducing by 50% the rate of new bitcoin issuance.

At the time, the reward for each block of mined bitcoin was cut in half from 6.25 btc to 3.125 btc. This process involves reducing the block.