Bitcoin is celebrating the 12th anniversary of its first halving event, which originally cut block rewards from 50 BTC to 25 BTC. Since then, rewards have dwindled to 3.125 BTC, tightening the supply of new coins. Despite these challenges, Bitcoin is trading near its all-time high of $99,600, partly due to its fourth halving in April.

Currently, 19.8 million BTC are in circulation, with 1.2 million left to mine. The mining difficulty has surged past 100 trillion, posing challenges for miners. However, Bitcoin's price rally, up 154% over the past year, keeps miners motivated. Major firms like Marathon Digital are selling mined BTC and exploring cost-cutting measures, while El Salvador is investing in geothermal energy for mining.