Key Points
- An extraordinarily rare satoshi from Bitcoin’s fourth halving block was sold for over $2 million.
- The satoshi was mined by ViaBTC and auctioned on CoinEx Global.
A highly unusual satoshi, the smallest unit of Bitcoin, that originated from the fourth Bitcoin halving block, was sold for a staggering sum exceeding $2 million.
The Rare Satoshi Sale
On April 25, the cryptocurrency mining pool, ViaBTC, sold the satoshi, labeled as “Sat 1,968,750,000,000,000”, for 33.3 Bitcoin (BTC), equating to $2.13 million. This transaction took place on the cryptocurrency exchange, CoinEx Global.
CoinEx Global announced the event, stating that their partner, ViaBTC, had successfully mined the 840,000th block. This significant achievement not only marked the fourth halving of Bitcoin but also included an ‘epic sat’ identified as a ‘Rare Satoshi’ by the Ordinals numbering system. CoinEx Global further added that the auction was more than just a bidding event, it symbolized community recognition, media attention, and widespread acceptance of Bitcoin.
The ‘Epic Sat’ Auction
ViaBTC mined the 840,000th Bitcoin mining block at 00:09 UTC on April 20. This event initiated a new Bitcoin mining epoch. At that moment, ViaBTC received 3.125 in mining rewards and 37.6256 BTC ($2,401,399) in reward fees. Subsequently, ViaBTC auctioned the rare satoshi on CoinEx, with the starting bid set at 1 Bitcoin (BTC).
The auction page indicated that the general public shows a strong interest in collecting valuable items. Given that satoshis have unique identifiers, they inherently have 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 fourth Bitcoin halving reduced mining rewards from 6.25 Bitcoin (BTC) to 3.125 Bitcoin (BTC). The next Bitcoin halving event is expected to occur around April 17, 2028. With this halving comes the fifth “epic sat” associated with the first subsequent block as mining rewards fall to 1.56 Bitcoin (BTC).
