Bitcoin
Dormant Bitcoin Miner Sends $3 Million to Binance After 14 Years of Inactivity
A rare “Satoshi-era” Bitcoin miner address has woken up after being dormant for 14 years, sending more than $3 million in BTC to Binance.
An early Bitcoin miner changed 50 Bitcoinequivalent to US$3.05 million, marking a rare transaction of the “Satoshi era”. According to data from Lookonchain, the address 1PDTD…m3Jcm sent the funds to Binance on June 27th.
Blockchain transaction history indicates that the miner obtained 50 BTC in July 2010, a few months after the launch of the Bitcoin network.
A miner’s wallet woke up after being inactive for 14 years and deposited 50 $BTC($3.05 million) for #Binance 7 hours ago.
The miner won 50 $BTC of mining on July 14, 2010.
Address:
1PDTDwpgRPdQaCcp3Th6zaMASgcCcm3Jcm pic.twitter.com/toKmBfbUne– Lookonchain (@lookonchain) June 27, 2024
The “Satoshi era” address refers to addresses that were active during the early days of the Bitcoin network, specifically from the time the first cryptocurrency was created by Satoshi Nakamoto in 2009 until around 2011, when Satoshi Nakamoto mysteriously disappeared.
This is not the first time that old Bitcoin wallets have been reactivated. Several “Satoshi-era” addresses have shown activity since early 2023. In July last year, a wallet inactive for 11 years transferred $30 million worth of Bitcoin to other wallets. In August, another wallet moved 1,005 BTC to a new address.
In March 2024, another long-inactive miner transferred funds after 14 years, with part of the transaction ending up on crypto exchange Coinbase.