Bitcoin’s next halving event is now just one week or approximately 1,000 blocks away, according to The Block’s Bitcoin Halving Countdown page.

The estimated countdown is based on Bitcoin's average block generation time of 10 minutes, setting a potential date of April 20 at around 9 a.m. UTC (5 a.m. ET), to reach the next halving block height of 840,000, as things stand. Bitcoin’s next halving event will see the subsidy reward for miners on the network drop from 6.25 BTC to 3.125 BTC per block.

Bitcoin halvings are programmed to occur automatically every 210,000 blocks — roughly every four years. Once a halving event occurs, miners receive 50% fewer bitcoins as a subsidy reward for every block of transactions they mine and add to the blockchain. However, they continue to earn additional …