Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
ViaBTC's 'epic sat' from fourth Bitcoin halving block sells for 33.3 BTC ($2.13 million)

ViaBTC's 'epic sat' from fourth Bitcoin halving block sells for 33.3 BTC ($2.13 million)

The BlockThe Block2024/04/25 17:13
By:The Block

ViaBTC auctioned off an ‘epic sat’ associated with the fourth Bitcoin halving block for 33.3 BTC ($2.13 million) on the crypto exchange CoinEx Global. Only four of these ‘epic sats’ exist thanks to the Bitcoin Ordinals protocol.

ViaBTC's 'epic sat' from fourth Bitcoin halving block sells for 33.3 BTC ($2.13 million) image 0An "epic sat"—an exceptionally rare satoshi, the smallest unit of bitcoin, from Bitcoin BTC -0.080% 's fourth halving block—sold for over $2 million.

On April 25, the crypto mining pool ViaBTC sold "Sat 1,968,750,000,000,000" for 33.3 BTC, valued at $2.13 million, on the crypto exchange CoinEx Global.

"CoinEx's partner, the ViaBTC mining pool, has officially mined the 840,000th block. This milestone not only signifies Bitcoin's fourth halving but also includes a block identified as an epic 'Rare Satoshi' by the Ordinals numbering system," CoinEx Global wrote on the satoshi's auction page, adding on social media, "This auction isn't just a bidding event; it marked the community recognition, media attention and widespread embrace of Bitcoin."

'Epic sat' auction

ViaBTC mined the 840,000th Bitcoin mining block at 00:09 UTC on April 20 (around 8:00 p.m. ET on April 19), ushering in a new Bitcoin mining epoch . At the time, ViaBTC received 3.125 in mining rewards as well as 37.6256 BTC ($2,401,399) in reward fees. 

ViaBTC then set the rare satoshi for auction on CoinEx starting at 1 BTC. "The general public has a keen interest in collecting valuable items," according to the auction page. "Given that satoshis are assigned unique identifiers, they inherently possess higher collectible value. As periodic events occur within the Bitcoin network, some more frequently than others, scarcity is naturally promoted."

A satoshi is the smallest unit of Bitcoin. The first satoshi mined in the first Bitcoin block following a halving is incredibly rare, as only four exist. The Bitcoin Ordinals protocol, which assigns metadata to Bitcoin satoshis, made these "epic sats" collectible and thus highly valuable, The Block previously reported. 

The fourth Bitcoin halving reduced mining rewards from 6.25 BTC to 3.125 BTC. The next Bitcoin halving event is expected to occur around April 17, 2028, according to The Block's Bitcoin Halving Countdown . With this halving comes the fifth "epic sat" associated with the first subsequent block as mining rewards fall to 1.56 BTC. 

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!