Dormant Bitcoin miner sends $3m to Binance after 14 years of inactivity

Dormant Bitcoin miner sends m to Binance after 14 years of inactivity

A rare “Satoshi era” Bitcoin miner address woke up after being dormant for 14 years, sending over $3 million worth of BTC to Binance.

An early Bitcoin miner moved 50 BTC, equivalent to $3.05 million, marking a rare transaction from the “Satoshi era.” According to data from Lookonchain, the address 1PDTD…m3Jcm sent the funds to Binance on Jun. 27.

Blockchain transaction history indicates that the miner obtained 50 BTC in July 2010, a few months after the Bitcoin network launched.

The “Satoshi era” address refers to addresses that were active during the early days of the Bitcoin network, specifically from the time when the first cryptocurrency was created by Satoshi Nakamoto in 2009 until around 2011, which is when Satoshi Nakamoto mysteriously disappeared.

This is not the first instance of old Bitcoin wallets reactivating. Several addresses from the “Satoshi era” have shown activity since early 2023. In July of last year, a wallet dormant 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 at the crypto exchange Coinbase.

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About the Author: Daniel