A 15-Year Dormant Miner Wallet Awakens Amid the Harshest Period in Bitcoin Mining History
A Bitcoin miner wallet dormant for 15.7 years activated, moving 50 BTC while the industry faces severe margin pressure.Summary
In early December, a Bitcoin miner wallet that had been dormant for 15.7 years, originating from the Satoshi era (mining on March 18, 2010), suddenly became active, transferring 50 BTC valued at $4.33 million. This event coincided with a challenging time for Bitcoin miners, marked by a price drop below $90,000 and persistently high mining difficulty (149.30T).
Miners are experiencing what has been called the "harshest margin environment of all time," with revenue per hash rate dropping significantly. Data shows miners have sold approximately 300,000 BTC over the last two years, depleting reserves. Current revenue levels are below the average operational cost for major mining companies ($44 per PH/s), and payback periods for new rigs exceed 1,000 days.
Analyst Ted noted that if Bitcoin's price falls below the estimated average electricity cost to mine 1 BTC ($71,087), capitulation could occur, though historical data suggests this level often acts as a support zone.
(Source：BeInCrypto)