2 weeks ago
ViaBTC, the world’s third-largest mining pool, is initiating an auction for the “epic sat” it uncovered during Bitcoin’s 4th halving lawsuit connected April 20.
In an April 23 announcement, ViaBTC disclosed that the auction is underway connected the CoinEx crypto speech and is slated to reason by April 26. The connection reads:
“The auction for Sat 1,968,750,000,000,000 — 1 of lone 4 epic sats successful the Bitcoin ecosystem — has officially begun!”
“Epic sat” refers to the archetypal satoshi generated pursuing each halving event, occurring astir each 4 years aft 210,000 blocks. With conscionable 32 epic sats expected to exist, these units transportation exceptional value wrong the Bitcoin network.
CoinEx said bidding for this uncommon plus would beryllium successful Bitcoin, with a minimum bid of 1 BTC. According to the auction page, the highest bid for the plus is 2 BTC, astir $132,000, arsenic of property time.
Notably, Foundry USA, the largest BTC mining pool, had intended to capitalize connected the scarcity of “epic sats” earlier the halving. The institution assured its customers that it would marque diligent efforts to monetize the halving artifact and administer 100% of the proceeds to excavation members.
However, ViaBTC was the fortunate excavation to excavation the block, truthful it was unclear whether the steadfast plans to redistribute the auction profits wholly to miners.
Halving artifact rewards isolated
Meanwhile, ViaBTC isolated the rewards from mining the 4th halving block and temporarily suspended payouts to miners.
On April 20, the excavation earned 40.75 BTC, equating to $2.6 million, for successfully mining the halving artifact that reduced miners’ rewards from 6.25 BTC to 3.125 BTC. Notably, 37.6 BTC of this reward pertained to validating transactions wrong the Runes protocol.
As per on-chain data, ViaBTC transferred the full reward of 40.75 BTC to a recently generated address.
Following these actions, respective users of the excavation raised inquiries astir the lack of BTC payout records for the halving artifact connected their dashboard by April 21. In response, a ViaBTC typical reassured users that the rewards were undergoing processing and would beryllium completed promptly.
The station Mining excavation ViaBTC auctions uncommon Bitcoin ‘epic sat’ from caller halving lawsuit connected CoinEx appeared archetypal connected CryptoSlate.
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