About block 940,000
Bitcoin block 940,000 was mined by Foundry USA on March 9, 2026 at 1:40 PM UTC, 17 min 48 s after block 939,999. That is slower than the 10-minute target; long gaps are normal, since every hash attempt is an independent draw with the same tiny chance.
It confirmed 2,954 transactions in 1.79 MB (99.8% of the 4 million weight-unit limit). The median transaction paid 2.00 sat/vB, up from 1.00 sat/vB in the block before, and all fees added up to 0.0411 BTC. With the 3.125 BTC subsidy of halving era 5, Foundry USA earned 3.1661 BTC for this block.
Block 940,000 is number 545 of 2,016 in difficulty epoch 466; 1,471 blocks remain until the next difficulty adjustment at block 941,471. The next halving is at block 1,050,000, 110,000 blocks after this one.
Its hash starts with 20 zeros: that is the proof of work, a number below the target that the whole network’s hashrate had to search for. Foundry USA found 254 blocks in the week before. Today the block has 36,022 confirmations, so it is settled beyond any practical doubt.
Why block 940,000 is notable
Height 940,000 is a round milestone, one of the multiples of 10,000 that mark the chain’s progress. Consensus rules ignore round numbers, so nodes checked this block exactly like its neighbours, but heights like this are useful reference points. It arrived 17.2 years after the genesis block of 3 January 2009, an average of 9 min 37 s per block across the whole chain up to that point. From here, 60,000 blocks remained to block 1,000,000: about 417 days at the 10-minute target.
Of the 3.16613111 BTC that Foundry USA collected for this block, 3.125 BTC was new subsidy and 0.04113111 BTC came from fees, 1.3% of the total; leaving out the coinbase, its 2,953 transactions paid about 1,393 sats each on average.
Countdown to block 1,000,000 →
What’s inside a Bitcoin block
Every block, 940,000 included, is made of the same parts:
- Header
- Eighty bytes that miners hash over and over: the version, the hash of the previous block, the Merkle root that summarises every transaction, a timestamp, the difficulty target in compact form and a nonce. A block is valid when the hash of its header falls below the target.
- Coinbase transaction
- The first transaction, written by the miner. It spends no inputs: it creates the subsidy and collects the fees, and since BIP 34 it must also record the block height.
- Transactions
- Everything else in the block: payments taken from the mempool, usually picked by fee rate because space is capped at 4 million weight units. Block 940,000 holds 2,954, counting the coinbase.
- Fees
- The difference between what each transaction spends and what it creates. The miner claims them in the coinbase; they are the part of the reward set by demand rather than by the protocol.
- Subsidy
- New bitcoin created by the block, fixed by the halving schedule: 50 BTC at the start, halved every 210,000 blocks. At height 940,000 it is 3.125 BTC.