Satoshi's 1.096M Bitcoin Hoard Stirs with Reawakened Dormant Wallets
Recently, on-chain activity has shed new light on a legendary stash of Bitcoin belonging to Satoshi Nakamoto. A total of 1.096 million BTC is thought to have been mined by Satoshi during the early days of Bitcoin.
The movement comes after seven dormant wallets containing 50 BTC each were reactivated on September 5, 2026. According to Whale Alert, these wallets had remained inactive for 16.5 years.
Galaxy Research analyzed this activity and found that 21,922 '50 BTC' Coinbase outputs, amounting to 1.096 million BTC, are likely to have been mined by Satoshi. This accounts for 64.5% of unspent '50 BTC' Coinbase outputs.
The researchers also noted that the 'Patoshi miner', widely believed to be Satoshi Nakamoto, was turned off in May 2010. The shutdown, mining behavior, and steady decrease in mining speed suggest that Satoshi's primary focus was on growing and protecting the young Bitcoin network.