- An “epic sat” connected to the fourth block of Bitcoin halving was auctioned off by ViaBTC for 33.3 BTC ($2.13 million) on CoinEx Global, a cryptocurrency exchange.
- Because of the Bitcoin Ordinals system, only four of these “epic sats” are known to exist.
From the fourth halving block of Bitcoin, an incredibly uncommon satoshi, the smallest unit of currency, known as a “epic sat” sold for more over $2 million.
“Sat 1,968,750,000,000,000” was sold by the cryptocurrency mining pool ViaBTC on April 25 for 33.3 BTC, or $2.13 million, on the cryptocurrency market CoinEx Global.
The ViaBTC mining pool, a partner of CoinEx, has formally mined the 840,000th block. This auction isn’t just a bidding event; it marked the community recognition, media attention, and widespread embrace of Bitcoin, CoinEx Global wrote on the satoshi’s auction page.
“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,” they added on social media.
The “Epic Sat” auction
At 00:09 UTC on April 20 (about 8:00 p.m. ET on April 19), ViaBTC mined the 840,000th Bitcoin mining block, starting a new era in Bitcoin mining. At that time, ViaBTC was paid 2.401,399 in incentive fees in addition to 3.125 in mining rewards.
The unusual satoshi was then put up for sale on CoinEx by ViaBTC, with a starting bid of 1 BTC. The auction page states that valuable things are much sought for by the general public. Since satoshis are given unique IDs, they are more valuable as collectibles by nature. Scarcity is naturally encouraged since sporadic events, some more often than others, take place within the Bitcoin network.
The smallest unit of Bitcoin is called a satoshi. There are only four of the first satoshi to be mined in the first Bitcoin block after a halving, making it extremely unusual. These “epic sats” become collectible and hence very valuable due to the Bitcoin Ordinals protocol, which attributes metadata to Bitcoin satoshis, as The Block previously revealed.
The rewards for mining Bitcoin were halved four times, from 6.25 BTC to 3.125 BTC. The Block’s Bitcoin Halving Countdown indicates that the next Bitcoin halving event is anticipated to take place around on April 17, 2028. The fifth “epic sat” linked to the first block after this halving occurs when mining incentives drop to 1.56 BTC.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
