As the Bitcoin halving mechanism is built into the software, it happens automatically and does not rely on a third party or central authority. When transactions occur in the Bitcoin network, they are stacked into groups called blocks, and miners receive rewards for successfully validating transactions in a block. For every 210,000 blocks that are mined, the Bitcoin protocol automatically reduces the reward that miners earn to half. Instead of gold, they’re mining a type of money that can’t be hidden under a mattress or folded into a wallet. They’re in the hunt for bitcoins, a cryptocurrency that has a global value of more than $1 trillion. September 25, 2024, as of 15:50 CET "We came to Niagara Falls to harness the power of the falls. It is one of the most powerful natural landmarks when it comes to hydro power ... and our company, different from all the rest uses as much renewable energy as possible. We're at about 90% at this point," said Martini.

90 of bitcoin mined