93% of all Bitcoin is already mined. Here’s what that means
With 93% of all Bitcoin already mined, the race for the remaining coins is intensifying. Here’s how it impacts scarcity, mining rewards and the future of the network.
Bitcoin’s total supply is hardcoded at 21 million BTC, a fixed upper limit that cannot be altered without a consensus-breaking change to the protocol. This finite cap is enforced at the protocol level and is central to Bitcoin’s value proposition as a deflationary asset.
As of May 2025, approximately 19.6 million Bitcoin (BTC) have been mined, or about 93.3% of the total supply. That leaves roughly 1.4 million BTC yet to be created, and those remaining coins will be mined very slowly.