Crypto Exchange CoinEx Global Sells Rare ‘Epic Satoshi’ for $2.13 Million in Record Auction

Crypto Exchange CoinEx Global Sells Rare ‘Epic Satoshi’ for $2.13 Million in Record Auction

The value of one satoshi currently stands at $0.00065, but in the Bitcoin realm, some sats carry a distinct “collectible value,” as elucidated by cryptocurrency exchange CoinEx Global.

An extraordinary satoshi, known as an “epic sat,” recently fetched a staggering 33.3 Bitcoin (BTC), equivalent to around $2.13 million. This particular satoshi was mined from the fourth Bitcoin halving block, making it exceptionally rare.

CoinEx Global facilitated the sale on April 25, just five days after its partner, Bitcoin mining pool viaBTC, unearthed it in block 840,000 on April 20. The auction commenced on April 22, attracting 34 bids before an anonymous bidder secured ownership of the epic sat with a bid of 33.3 BTC, identified as “sat number 1,968,750,000,000,000.”

The runner-up bid for this rare satoshi was 20 Bitcoin.

CoinEx announced the successful conclusion of the auction, emphasizing its significance beyond mere bidding: “This auction isn’t just a bidding event; it marked the community recognition, media attention, & widespread embrace of #Bitcoin.”

The term “epic sat” denotes the first satoshi mined in the initial new Bitcoin halving block. With four halvings so far, only four of these rare sats exist. These sats are assigned unique sequence numbers under the Ordinals number system, based on mining timestamps.

While an ordinary satoshi is currently valued at $0.00065, certain sats hold special significance within the Bitcoin ecosystem due to their scarcity and unique identifiers.

Bitcoin Ordinals explorers such as Ordiscan and OrdinalHub enable users to determine if a Bitcoin wallet contains a rare sat by verifying the exact UTXO and output number. Owners of rare sats can then transfer them to Ordinals-supported wallets.

ViaBTC mined the fourth halving block, block 840,000, at 12:09 am UTC on April 20, receiving a new block subsidy of 3.125 Bitcoin and an impressive 37.6 Bitcoin in reward fees, totaling $2.4 million at the time.

The next Bitcoin halving event is anticipated to take place around 2028 at block 1,050,000, halving mining rewards to 1.5625 Bitcoin.