Bitcoin miner from 2010 moves part of 50 BTC stash to active wallet linked to exchanges

For the first time, an anonymous Bitcoin miner from the Satoshi era has moved part of their 50 BTC ($3.4 million) rewards from block 66,138, mined to ‘1FHft3AFk9.’

2.99 BTC was moved to wallet ‘bc1qlmprk8‘, with the remaining now sitting in a change wallet ‘bc1qmefm8e.’

According to a data trace on Arkham Intelligence, the new wallet has sent a total of $1.5 million to the crypto exchange OKX and interacted with several other exchanges, including Coinbase, Kraken, BloFin, and Crypto.com. The whale may be preparing to profit from the mining rewards, which at the time were worth $1.5. A sale would reward the miner with a profit of 226,666,567%.

As of press time, the Bitcwas mined in 2010 has not moved from its new location. However, analysis of associated wallets indicates the miner is still very active in the crypto industry, meaning this whale has held onto 50 BTC from the early days of Bitcoin while actively participating in the industry.

CryptoSlate analysis revealed that the wallet did not exhibit features aligning with the Patoshi pattern, indicating the miner was unlikely to have been Satoshi himself. The block was mined in July 2010 when there were many other miners on the network other than Satoshi himself. While additional information was included in the Coinbase transaction, the nonce values were inconsistent with Patoshi’s.

Analyst

Liam ‘Akiba’ Wright

Editor-in-Chief at CryptoSlate

Also known as “Akiba,” Liam Wright is a reporter, podcast producer, and Editor-in-Chief at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.