Redistribution of the halving of ‘epic sat’ revenue is planned by the Bitcoin mining company Foundry

  • Foundry’s USA Pool Team said in an email screenshot that has been circulating on X that it plans to pay out money to its members in the event that it mines the first satoshi in the Bitcoin halving block.
  • A few of X users questioned the strategy and the idea of a “epic sat.”

Foundry Digital’s USA Pool Team said in an email snapshot that host Will Foxley of The Mining Pod on X that if the pool mines the first satoshi in the halving block, it will split the proceeds with its customers. 

The email from the company stated, “If Foundry USA Pool decides to mine this block, we’ve taken the necessary steps to isolate the epic sat. We will make reasonable efforts to monetize it and distribute 100% of the proceeds to our pool members.” 

The CEO of Ethereum tracker Ninjalerts, Trevor Owens, also shared an image of the identical email; however, it’s not clear if Owens or Foxley got it straight from Foundry.

The first single Satoshi mined following the impending halving event—the first since Ordinals started last year—is referred to as the “epic sat.” Since each Satoshi may now be numbered and exchanged like collectibles according to the Ordinals protocol, some people anticipate that the first Satoshi to be mined following the halving will be valued more due to its purported rarity.

The team clarified that, depending on each member’s hash rate over the 24-hour period on the day of halving, the generated profits would be distributed to the sub-account payout addresses that are currently in place on the USA Pool. The Foundry team stated, “More communications will be conducted after monetization.”

Nonetheless, a number of X users questioned both the reality of a “epic sat” and Foundry’s intended distribution strategy. “Sat is merely a measurement tool. First Sat is not held. This is a fraud, X user @infopocalypse1 stated.

In response to Foxley’s post, core developer Luke Dashjr referred to the proposal as a hoax.

It is anticipated that on Friday, Bitcoin will undergo its quadrennial halving event, which lowers miner payouts from 6.25 BTC to 3.125 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.

Author: Lalit Mohan

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