600 BTC mined in 2010 moves after 16 years of dormancy

On September 5, 2026, a dozen long-dormant Bitcoin addresses moved a combined 600 Bitcoin, worth approximately $48 million, after more than 16 years of inactivity. The coins were originally mined in March 2010 when the block subsidy was 50 Bitcoin. Although the movement sparked speculation regarding a link to Bitcoin's pseudonymous creator, Satoshi Nakamoto, blockchain tracking platform Whale Alert stated that its research found no connection between these blocks and Nakamoto.

600 BTC dormant address movement

• ▪A dozen long-dormant addresses holding a combined 600 Bitcoin, worth approximately $48 million, moved their coins on Saturday, September 5, 2026, after more than 16 years of inactivity
• ▪One of the 12 dormant Bitcoin addresses received a 50 Bitcoin mining reward on March 5, 2010, and transferred the coins to a new address on September 5, 2026
• ▪Whale Alert noted that one of the 12 dormant Bitcoin rewards moved several blocks before the others, which is consistent with a test transaction

Satoshi Nakamoto speculation

• ▪The movement of 600 Bitcoin mined in 2010 reignited speculation over a possible link to Bitcoin's pseudonymous creator, Satoshi Nakamoto
• ▪Satoshi Nakamoto remained active in Bitcoin development and communications through 2010 before gradually withdrawing, with the last known communication dating to April 2011
• ▪Whale Alert stated that its research found no connection between the 12 mining blocks that generated the 600 Bitcoin and Satoshi Nakamoto

2010 Bitcoin mining era

• ▪Lookonchain initially identified seven miner wallets that moved 350 Bitcoin after 16.5 years of inactivity, which were earned through mining in March 2010
• ▪The 600 Bitcoin originated from rewards mined across 12 Bitcoin blocks in March 2010, when each block paid a 50 Bitcoin block subsidy

Whale Alert blockchain tracking

• ▪Whale Alert stated in an X post on Sunday, September 6, 2026, that seven of the rewards originated from blocks it had determined were not mined by Satoshi Nakamoto
• ▪Whale Alert, a blockchain transaction tracking platform, traced all 12 rewards to Bitcoin blocks mined in March 2010

Block reward subsidy history

• ▪The Bitcoin block subsidy has been cut in half four times, most recently in April 2024, when it fell from 6.25 Bitcoin to 3.125 Bitcoin per block
• ▪In March 2010, the Bitcoin block subsidy paid 50 Bitcoin per block

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