The Bitcoin network has been running since 2009, and the first halving event took place on November 28, 2012, when Bitcoin’s block reward was reduced from 50 BTC to 25 BTC. The second halving occurred on July 9, 2016, when Bitcoin’s block reward was reduced from 25 BTC to 12.5 BTC. The third halving occurred on May 11, 2020, when Bitcoin’s block reward was reduced from 12.5 BTC to 6.25 BTC. According to the Bitcoin protocol, the next halving event will occur in approximately 4 years, and is expected to occur around April 2024.