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'Epic sat' mined from fourth Bitcoin halving block sells for $2.1M

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The first satoshi mined from the recent Bitcoin halving block, known as an “epic sat” has been sold for a staggering $2.1 million, or 33.3 Bitcoin.

An"epic sat" — an exceptionally rare satoshi that was mined from the fourth Bitcoin halving block — has sold for 33.3 BitcoinThe sale of the satoshi — the smallest unit of Bitcoin — took place on cryptocurrency exchange CoinEx Global on April 25 — roughly five days after one of its partners, Bitcoin mining pool viaBTC, mined it in block 840,000 on April 20.

The auction, which commenced on April 22, saw 34 bids before an unidentified bidder won ownership rights to the epic sat — with “sat number 1,968,750,000,000,000.”“The auction has concluded successfully, with the FIRST & ONLY epic sat selling for 33.3 $BTC ,” CoinEx“This auction isn't just a bidding event; it marked the community recognition, media attention, & widespread embrace of #Bitcoin.”An epic sat refers to the first satoshi mined in the first new Bitcoin halving block.

These sats are allocated a unique sequence number under the Ordinals number system, which is based on mining timestamps.As there are one hundred million sats in a Bitcoin, an ordinary satoshi is currently priced at $0.00065."Given that satoshis are assigned unique identifiers, they inherently possess higher collectible value. As periodic events occur within the Bitcoin network, some more frequently than others, scarcity is naturally promoted.

Bitcoin Ordinals explorers like Ordiscan and OrdinalHub can be used to find out whether a Bitcoin wallet owns a rare sat by verifying the exact UTXO and output number. Users that own a rare sat can then transfer it to an Ordinals-supported wallet.It received the new block subsidy of 3.125 Bitcoin, in addition to anat block 1,050,000, which will see mining rewards halved to 1.5625 Bitcoin.

 

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