“Halving” refers to the process of reducing the rate of new Bitcoin production. Bitcoin miners confirm transactions on the blockchain by solving complex mathematical problems. Every 10 minutes, new Bitcoin blocks containing transaction information confirmed by miners will be generated. By generating new Bitcoin blocks, miners will receive job rewards. The initial reward for miners is 50 BTCs per block. After each “halving” of Bitcoin, the reward amount obtained by miners will be reduced by half. Approximately every 210000 blocks (which takes about four years), a “halving” will occur. So far, there have been a total of three Bitcoin “halving” events, which occurred in 2012, 2016, and 2020, respectively.