Written by Helen Partzstaff writerReviewed by Yohan Yunstaff editor

Written by Helen Partzstaff writer

Reviewed by Yohan Yunstaff editor

Satoshi-era Bitcoin wakes after 16 years of dormancy as 600 BTC moves

Latest NewsPublishedSep 6, 2026

Whale Alert identified 12 mining rewards totaling 600 BTC that moved after 16 years of dormancy, with the onchain tracking platform finding no connection to Satoshi Nakamoto.

Bitcoin mined in 2010 moved from long-dormant addresses after more than 16 years, reigniting speculation over a possible link to Satoshi Nakamoto.

Twelve addresses holding a combined 600 Bitcoin (BTC), worth about $48 million, moved the coins on Saturday after more than 16 years of dormancy, as reported by onchain data reviewed by Cointelegraph.

Whale Alert, a blockchain transaction tracking platform, stated the 600 BTC came from rewards mined across 12 Bitcoin blocks and that its research found no connection to Nakamoto.

“None of the blocks can be connected to Satoshi based on our research,” a spokesperson for Whale Alert told Cointelegraph, tempering speculation around the origins of coins mined while Bitcoin’s pseudonymous creator was still active.

Whale Alert traces all 12 mining block rewards

Whale Alert traced all 12 rewards to Bitcoin blocks mined in March 2010, when each block paid a 50 BTC block subsidy. The subsidy has since been cut in half four times, most recently in April 2024, when it fell from 6.25 BTC to the current 3.125 BTC per block.

The findings expand on Whale Alert’s earlier analysis of seven of the rewards. It stated in an X post on Sunday that those seven originated from blocks it had determined were not mined by Nakamoto.

The mining blocks and addresses for the 12 dormant Bitcoin rewards. Source: Whale Alert

Lookonchain, an onchain analytics platform, had also initially identified seven miner wallets that moved 350 BTC after 16.5 years of inactivity, saying the wallets earned the coins through mining in March 2010.

Satoshi-era doesn’t mean Satoshi’s Bitcoin

The movement attracted attention partly because the coins date to a period when Nakamoto was still actively involved with Bitcoin.

Nakamoto remained involved in Bitcoin development and communications through 2010 before gradually withdrawing from the project, with their last known communication dating to April 2011.

One of the 12 addresses received a 50 BTC mining reward on March 5, 2010, and moved the coins to a new address on Sept. 5, 2026. Source: Blockchain.com

Whale Alert pointed out that one reward moved several blocks before most of the others, saying the pattern was consistent with a test transaction before the remaining transfers.

Magazine: BTC will hit $1M by 2030… but Arthur Hayes is buying ETH instead

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

• Satoshi Nakamoto
• Transactions
• Bitcoin Mining
• Rewards
• Wallet
• Bitcoin

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