When does The Lord of the Rings: The Rings of Power return?

The Lord of the Rings: The Rings of Power is an American fantasy television series developed by J. D. Payne and Patrick McKay for the streaming service Amazon Prime Video. The series is set thousands of years before the novel and depicts the major events of Middle-earth's Second Age. The first season was released through October and was the most-watched of any Prime Video original series.
The Hobbit and The Lord of the Rings is based on the author's history of Middle-earth. The series begins during a time of relative peace and covers the major events of the Second Age. These events take place over thousands of years in Tolkien's works but are condensed.