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In a rare event, a Bitcoin (BTC) miner wallet address from 2010 became active again after 11 years. The Bitcoin miner transferred BTC, which was worthless back then but worth millions today, to a new wallet address.
Moved 250 BTC
According to on-chain data, a Bitcoin miner wallet address from 2010 transferred BTC worth $13.95 million early today after 11 years of inactivity. The miner had earned 250 BTC in 2010 when Bitcoin mining with ordinary CPUs was common.
At that time, Bitcoin mining was primarily done by individuals using their personal computers, and the first crypto exchange, Bitcoin Market, had just opened in February 2010.
Earlier in June, another Satoshi-era miner wallet address that had been dormant reactivated, capturing attention. While such events are rare, they draw significant interest from the crypto community. These rare activations remind the community of Bitcoin’s early days and the mysterious origins of the cryptocurrency.
Meanwhile, Bitcoin’s enigmatic creator, Satoshi Nakamoto, has not been heard from since he last exited the BitcoinTalk forum in December 2010. Nakamoto briefly reappeared in 2014 to deny a Newsweek article claiming to reveal his identity but has remained silent since. The reactivation of old wallet addresses on the Bitcoin network years later fascinatingly reminds us of the ongoing mystery surrounding the early history and creator of the largest cryptocurrency.
The Evolution of Bitcoin Mining
In July 2010, the first Bitcoin block was mined using a GPU, marking the beginning of more efficient mining methods. Users could mine Bitcoin by downloading and running the Bitcoin-Qt software. Since then, the mining landscape has rapidly evolved, with FPGA mining gaining popularity in 2011 and ASIC mining becoming dominant in 2013. Today, Bitcoin mining is a massive industry controlled by companies with significant resources and specialized equipment.
In November 2010, Bitcoin’s market value exceeded $1 million for the first time. Today, the market value of the largest cryptocurrency is impressively above the $1 trillion threshold. This tremendous growth highlights the significant evolution and increased adoption of Bitcoin over the years.
