At 8:09 p.m. ET on April 19, 2024, the mining pool Viabtc successfully excavated block 840,000. This block notably encompassed 37.625 bitcoins from transaction fees, alongside a 3.125 bitcoin reward. This significant block also included a rare bitcoin element known as the “epic sat,” which some estimations value highly. On Monday, Viabtc Group’s exchange Coinex declared that the “epic sat” would be offered in an auction starting at a minimum bid of 1 BTC.
Crypto Exchange Coinex Set to Auction 'Epic Satoshi' From Halving Block for 1 BTC Minimum
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Super Rare ‘Epic Sat’ to Hit Auction Block on Coinex
Last year, the Ordinals space introduced a novel trend that assigns a premium to specific satoshis, the smallest unit of bitcoin ( BTC). A single satoshi is represented by the figure: 0.00000001, and at present U.S. dollar exchange rates, it is valued at $0.00065. Additionally, categories of satoshis have been defined as “common,” “uncommon,” “rare,” “epic,” “legendary,” and “mythic,” with the “common” type equating to ordinary satoshis at the standard $0.00065 value. The remaining categories and other attributes might command significantly higher prices.
When Viabtc located the halving block, it became the owner of one of just four “epic” satoshis, identified as the initial satoshi in the first block of any halving event. On the social media platform X, a user expressed hope that the miner remained unaware of their find of the epic satoshi. Nonetheless, the miners were quite conscious of its presence, as Foundry had informed its pool that all participants would gain if they uncovered this rare satoshi within block 840,000.
Viabtc, through its onchain activities, was fully cognizant of its discovery and subsequently segregated the coinbase reward and fees into a distinct P2SH address. As of this report, the funds are still retained at that address, identified as “32u7m,” which holds the legendary “epic satoshi,” per analyses from rare satoshi scanners.
Scanners such as sating.io and ordinalhub’s scanner emphasize that the “32u7m” address contains the “epic satoshi.” Three days after the halving event, Viabtc Group’s subsidiary, Coinex, declared its intention to auction off the satoshi.
“There are only about 32 epic sats in total, which makes each one significant and rare,” Coinex disclosed in a message sent to Bitcoin.com News on Monday. “There are only about 32 epic sats in total, which makes each one significant and rare. There are only four epic sats available in the market.” The crypto exchange added:
This auction has pioneered a new trading event model, making Coinex a trailblazer in the exchange industry for auctioning off the epic sat. To provide more updates on the auction, Coinex will have a dedicated page to provide details and updates.
What do you think about the epic sat? What price do you think this satoshi will fetch at auction? Share your thoughts and opinions about this subject in the comments section below.
