Five ancient miner wallets reawakened, consolidating their 50 BTC

Ancient wallets keep moving their coins, as BTC easily trades near its all-time high. Five notable miner wallets from 2010 moved 250 BTC in the past day. 

BTC from 2010 moved from miner wallets, showing not all inactive holders lead to lost coins. A total of five early wallets moved 250 Bitcoin, becoming a part of the trend for old coins to be shifted around or sold. The five miner wallets probably belonged to the same individual, as they were consolidated in two new addresses. 

One of the new wallets contained over $11M, while the other wallet held 150 BTC valued at over $17.7M. The coins were mined when market prices were under $0.10. All the block rewards were received on the same day, during the time when Satoshi Nakamoto was also producing blocks. 

The miner moved the coins as Bitcoin recovered above $118,000, with still robust spot demand. Whales have proven to be long-term holders, but also ready to take profits at the market peak. Previously, miners were awakened from dormancy during the late 2024 market rally, with one ancient whale sending 50 BTC directly to Binance. 

Bitcoin moves from untouched block rewards

The Bitcoin moved all came from untouched block rewards of 50 coins, received on April 2010. The wallets come from the Satoshi era, mined at a much lower difficulty and minimal electricity expenses. 

5 miner wallets woke up after being dormant for over 15 years and transferred 250 $BTC($29.6M) out an hour ago.

These miner wallets earned 50 $BTC each from mining on Apr 26, 2010.

Wallets:
1NuqAKeX6JzW372QfEe7eFkewFx21fnqd3
12EWRT19v2eAvWjGDWjodCe7NP1CzmFphT… pic.twitter.com/vGttaE6MxY

— Lookonchain (@lookonchain) July 31, 2025

As with other addresses from before 2011, the wallets in question were dusted with an op_return transaction, issuing a pseudo-legal claim on the coins. While the attack is unable to really establish ownership over the coins, the transactions seem to have become a trigger for securing the ancient coins into new addresses. 

The recent miner selling arrived just a day after another ancient investor moved 3,963 BTC.

The relatively small amounts of coins are not able to affect the market, which recently absorbed sales of 80K BTC without crashing the price. However, old miner coins with no history may be valuable to treasuries. Small-scale treasury buyers can join the top 100 of corporate holders with as low as 29 Bitcoin, meaning even a few older BTC can help create the basis for reserves with provable origin. 

Miner reserves turn lower on profit-taking

Prominent mining companies often retain their coins, forming an organic treasury. Big-scale entities like Mara Holdings have expanded their wallets above 50,000 BTC. 

Overall, miners decreased their reserves from 1.9M Bitcoin down to 1.8M, based on Cryptoquant data. Despite this, hashrate remains high, barring seasonal fluctuations due to low hydroelectric power resources. 

Based on the hash ribbon indicator, miners are producing blocks very close to distress conditions. This time, there is no clear miner capitulation, but some are taking profits to make use of the low production price of their older BTC. The selling may also be a part of the pivot to AI data centers, which some of the biggest mining companies have taken up. 

The Bitcoin hashrate is back above 915 EH/s, with difficulty near its all-time high. Mining remains extremely competitive, though companies are still ready to build mining facilities for their own use, or to lend hashrate. 

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