ViaBTC, the world’s third-largest mining pool, is initiating an public sale for the “epic sat” it uncovered throughout Bitcoin’s fourth halving occasion on April 20.
In an April 23 announcement, ViaBTC disclosed that the public sale is underway on the CoinEx crypto trade and is slated to conclude by April 26. The assertion reads:
“The public sale for Sat 1,968,750,000,000,000 — 1 of solely 4 epic sats within the Bitcoin ecosystem — has formally begun!”
“Epic sat” refers back to the preliminary satoshi generated following every halving occasion, occurring roughly each 4 years after 210,000 blocks. With simply 32 epic sats anticipated to exist, these models carry distinctive significance throughout the Bitcoin community.
CoinEx mentioned bidding for this uncommon asset can be in Bitcoin, with a minimal bid of 1 BTC. In keeping with the public sale web page, the best bid for the asset is 2 BTC, roughly $132,000, as of press time.
Notably, Foundry USA, the biggest BTC mining pool, had supposed to capitalize on the shortage of “epic sats” earlier than the halving. The corporate assured its prospects that it will make diligent efforts to monetize the halving block and distribute 100% of the proceeds to pool members.
Nevertheless, ViaBTC was the fortunate pool to mine the block, so it was unclear whether or not the agency plans to redistribute the public sale income solely to miners.
Halving block rewards remoted
In the meantime, ViaBTC remoted the rewards from mining the fourth halving block and briefly suspended payouts to miners.
On April 20, the pool earned 40.75 BTC, equating to $2.6 million, for efficiently mining the halving block that decreased miners’ rewards from 6.25 BTC to three.125 BTC. Notably, 37.6 BTC of this reward pertained to validating transactions throughout the Runes protocol.
As per on-chain knowledge, ViaBTC transferred the whole reward of 40.75 BTC to a newly generated deal with.
Following these actions, a number of customers of the pool raised inquiries concerning the absence of BTC payout data for the halving block on their dashboard by April 21. In response, a ViaBTC consultant reassured customers that the rewards had been present process processing and can be accomplished promptly.
