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IN March 2026, Bitcoin reached a major milestone: more than 20 million BTC, out of its strict 21 million supply cap, have now been mined.
What began in 2009 as a niche experiment, with enthusiastic mathematicians and hobbyists solving cryptographic puzzles to earn essentially worthless coins, has evolved into a mainstream digital asset that now rivals gold as an inflation hedge.
From near-zero value in its early years, Bitcoin’s price has experienced explosive growth through multiple bull cycles, surpassing $1 in 2011, $1,000 in 2013, nearly $20,000 in 2017, over $60,000 in 2021, and recently trading around $70,000 with a market cap exceeding $1.3 trillion.
This ascent has been driven by increasing institutional adoption, ETF approvals, nation-state involvement, and recognition as “digital gold”.
Bitcoin mining has transformed dramatically over the years. Today, large-scale operations dominate, with major firms such as American Bitcoin and even nation-states such as El Salvador deploying vast arrays of specialised hardware (mining rigs) to solve increasingly complex mathematical problems and secure the network.
Unlike many cryptocurrencies that were distributed via airdrops or pre-mines, every Bitcoin in existence has been earned through proof-of-work mining. No coins were gifted into wallets; they were all painstakingly created by miners before entering circulation through purchases, trades or exchanges.
The very last Bitcoin is projected to be mined around the year 2140, meaning it will take about 114 years to mine this final tranche of Bitcoin.
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