The current block reward is 6.25 Bitcoin issued every 10 minutes. This reward will be halved to 3.125 around March 2024 and continue halving every 4 years following.
You may be wondering, why "around March 2024?"
The reason is the block times are around 10 minutes. Sometimes the block reward is solved just over 10 minutes and sometimes just under 10 minutes. As miners come on and offline, total hash rate changes which make it more or less likely to solve the block at the target 10 minute mark.
Because there are so many 10 minute blocks between now and the next halving, the exact time is not known until we near the target 210,000 block.
…I feel like I may have lost some of you. 🤔
No fear! Watch my boy Coin Bureau below. He does a better job of explaining just how the block rewards and halving actually work with Bitcoin! 👇