600 BTC Mined in 2010 Moves After 16 Years of Dormancy

Bitcoin mined in 2010 moved from long-dormant addresses after greater than 16 years, reigniting hypothesis over a doable hyperlink to Satoshi Nakamoto.

A dozen addresses holding a mixed 600 Bitcoin (BTC), value about $48 million, moved the cash on Saturday after greater than 16 years of dormancy, in accordance with onchain knowledge reviewed by Cointelegraph.

Whale Alert, a blockchain transaction monitoring platform, mentioned the 600 BTC got here from rewards mined throughout 12 Bitcoin blocks and that its analysis discovered no connection to Nakamoto, the pseudonymous creator of Bitcoin.

“None of the blocks could be related to Satoshi primarily based on our analysis,” a spokesperson for Whale Alert advised Cointelegraph, tempering hypothesis across the origins of cash mined whereas Bitcoin’s pseudonymous creator was nonetheless energetic.

Whale Alert traces all 12 mining block rewards

Whale Alert traced all 12 rewards to Bitcoin blocks mined in March 2010, when every block paid a 50 BTC block subsidy. The subsidy has since been minimize in half 4 occasions, most lately in April 2024, when it fell from 6.25 BTC to the current 3.125 BTC per block.

The findings develop on Whale Alert’s earlier evaluation of seven of the rewards. It said in an X submit on Sunday that these seven originated from blocks it had decided weren’t mined by Nakamoto.

The mining blocks and addresses for the 12 dormant Bitcoin rewards. Supply: Whale Alert

Lookonchain, an onchain analytics platform, had additionally initially identified seven miner wallets that moved 350 BTC after 16.5 years of inactivity, saying the wallets earned the cash by mining in March 2010.

Satoshi-era doesn’t imply Satoshi’s Bitcoin

The motion attracted consideration partly as a result of the cash date to a interval when Nakamoto was nonetheless actively concerned with Bitcoin.

Nakamoto remained concerned in Bitcoin growth and communications by 2010 earlier than step by step withdrawing from the challenge, with their last known communication dating to April 2011.

One of the 12 addresses obtained a 50 BTC mining reward on March 5, 2010, and moved the cash to a brand new deal with on Sept. 5, 2026. Supply: Blockchain.com

Whale Alert famous that one reward moved a number of blocks earlier than most of the others, saying the sample was in line with a check transaction earlier than the remaining transfers.

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