TL;DR
- Five 2010-era Bitcoin miner wallets moved 250 BTC ($28.7M) after 14 years of dormancy, likely consolidating one entity’s Satoshi-era holdings.
- Miners profit strategically at $118K Bitcoin prices; coins cost <$0.10 to mine, avoiding market impact due to precise, whale-scale timing.
- “Virgin” unmoved Bitcoin holds a treasury premium: just 29 coins can rank buyers among the top 100 corporate holders.
Ancient Bitcoin miners awakened this week, moving 250 BTC ($28.7M) untouched since the Satoshi era, signaling strategic profit-taking as prices hover near all-time highs. Five wallets from April 2010, mined when BTC traded below $0.10, consolidated holdings into two new addresses after 14 years of dormancy. This follows a broader trend of early investors securing assets amid BTC’s $118K resilience, underscoring whales’ disciplined timing despite legendary patience.
5 miner wallets woke up after being dormant for over 15 years and transferred 250 $BTC($29.6M) out an hour ago.
These miner wallets earned 50 $BTC each from mining on Apr 26, 2010.
Wallets:
1NuqAKeX6JzW372QfEe7eFkewFx21fnqd3
12EWRT19v2eAvWjGDWjodCe7NP1CzmFphT… pic.twitter.com/vGttaE6MxY— Lookonchain (@lookonchain) July 31, 2025
14-Year Slumber Ends
The coins, 50 BTC block rewards mined on a single day in April 2010, were consolidated into two wallets: one holding $11M (83 BTC) and another $17.7M (150 BTC). Blockchain data suggests all five wallets belonged to one entity, possibly a peer of Satoshi, given their concurrent mining period. Triggered by pseudo-legal “dusting attacks” (fraudulent ownership claims), the move highlights how dormant holders proactively shield assets when market conditions ripen.
Profit-Taking at Peaks
Miners capitalized on BTC’s sustained rally, echoing late 2024 behavior when another “ancient whale” sent 50 BTC directly to Binance. With mining costs near zero in 2010 (versus today’s industrial-scale expenses), these coins represent pure profit. While tiny compared to recent $4B+ whale movements, such sales reveal sophisticated timing: miners sell methodically during euphoria without destabilizing markets, unlike panic-driven capitulation.
Treasury Value of Virgin Coins
Though 250 BTC is negligible for spot markets (which absorbed 80K BTC sales recently), “unspent” coins hold unique treasury appeal. Just 29 BTC can rank buyers among corporate crypto’s top 100 holders. Early-mined coins offer provable origin for reserves, attracting institutions like Marathon Digital (holding 50K+ BTC). These sales may seed new treasuries or fund miners’ AI infrastructure pivots.
Mining’s High-Stakes Evolution
Miners reduced reserves from 1.9M to 1.8M BTC this quarter, per CryptoQuant. Despite hashrate hitting 915 EH/s near record difficulty, pushing profitability to distress thresholds, no mass capitulation occurred. Instead, strategic holders monetize legacy coins to fund diversification. As giants like Hut 8 transition to AI data centers, dormant BTC becomes critical capital for reinvention.
