An exceedingly rare event in the world of Bitcoin unfolded recently as an “epic sat,” the smallest unit of the cryptocurrency, was mined from the fourth Bitcoin halving block and subsequently sold for a staggering 33.3 Bitcoin (BTC), equivalent to approximately $2.13 million.
The transaction took place on cryptocurrency exchange CoinEx Global on April 25, merely five days after the block, numbered 840,000, was mined on April 20 by Bitcoin mining pool viaBTC, a partner of CoinEx.
The auction for this rare satoshi, denoted as “sat number 1,968,750,000,000,000,” commenced on April 22 and attracted a total of 34 bids before an undisclosed bidder secured ownership rights to the coveted sat.
The runner-up bid amounted to 20 Bitcoin.
CoinEx celebrated the successful conclusion of the auction, highlighting the significance of the event beyond mere financial transactions.
They emphasized, “This auction isn’t just a bidding event; it marked the community recognition, media attention, & widespread embrace of #Bitcoin.”
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An epic satoshi is the first satoshi mined in the initial new Bitcoin halving block, and with four halvings to date, only four of these rare sats exist.
Each epic sat is assigned a unique sequence number under the Ordinals number system, which relies on mining timestamps.
While an ordinary satoshi is currently valued at $0.00065, certain sats hold special significance within the Bitcoin ecosystem due to their rarity and unique identifiers.
Bitcoin Ordinals explorers like Ordiscan and OrdinalHub enable users to verify whether a Bitcoin wallet possesses a rare sat by examining the exact UTXO and output number.
Owners of such rare sats can then transfer them to an Ordinals-supported wallet.
ViaBTC, the entity responsible for mining the fourth halving block, received a substantial reward of 3.125 Bitcoin as the new block subsidy, along with an impressive 37.6 Bitcoin in reward fees, valued at $2.4 million at the time.
The next Bitcoin halving event is anticipated to occur around 2028 at block 1,050,000, halving mining rewards to 1.5625 Bitcoin.
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