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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 alternate 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 items carry distinctive significance inside the Bitcoin community.
CoinEx stated bidding for this uncommon asset can be in Bitcoin, with a minimal bid of 1 BTC. In response to 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 meant 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 earnings fully 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 lowered miners’ rewards from 6.25 BTC to three.125 BTC. Notably, 37.6 BTC of this reward pertained to validating transactions inside the Runes protocol.
As per on-chain information, ViaBTC transferred the overall reward of 40.75 BTC to a newly generated handle.
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.