90% of Bitcoin already mined, prices continue to tumble for the cryptocurrency

90% of the total bitcoin supply of 21 million has been mined as of Monday, this as per data from Blockchain.com.

The remainder which is just over 2 million Bitcoins is not expected to be mined until February 2140. So the miners can continue to hunt and solve for the digital treasure until then.

Also read/watch: Your Complete Crypto Guide: The Good, The Bad and The Ugly!

Bitcoin operates on a proof-of-work model, which means that miners must compete to solve complex math problems to validate transactions. It took 12 years for miners to discover and solve for 90% of the supply.

Meanwhile, Bitcoin prices have been slumping. The token is down 30% from it's record high, down for 4 straight weeks and now trading below it's 200 day moving average which signals to technical chartists that more downside is on the cards.