A halving event occurs when the block reward is cut in half, which happens approximately every four years (or precisely every 210,000 blocks). Bitcoin already had three halving events: in 2012 (from 50 to 25 BTC), in 2016 (from 25 to 12.5 BTC), and in 2020 (from 12.5 to 6.25 BTC).

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