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The Bitcoin halving is an event that occurs every 4 years, reward for mining Bitcoin is cut in half.

1. Reduced supply: The halving reduces the number of new Bitcoins released into circulation, which can lead to increased demand and, in turn, drive up the price.

2. Miner rewards: Miners receive 50% fewer Bitcoins for validating transactions and creating new blocks.

3. Halving cycle: The halving occurs every 210,000 blocks, or approximately every 4 years.

4. Past halvings: 
- 2012: Reward dropped from 50 BTC to 25 BTC
    - 2016: Reward dropped from 25 BTC to 12.5 BTC
    - 2020: Reward dropped from 12.5 BTC to 6.25 BTC

5. Impact on price: Historically, the halving has led to significant price increases in the months and years following the event.

6. Increased security: The halving makes it more expensive for potential attackers to launch a 51% attack on the network.

7. Energy efficiency: The halving can lead to more energy-efficient mining, as miners must optimize their operations to remain profitable.

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