Satoshi Nakamoto's Last Known Mined Bitcoin Block Uncovered

In a recent tweet, blockchain analytics platform Whale Alert highlighted that Satoshi Nakamoto remained active until Bitcoin block 54,316, providing one of the most detailed timelines yet of the Bitcoin creator's activity.

Based on its analysis, Whale Alert estimated the number of blocks mined and Bitcoins owned by Satoshi to be 1,125,150 BTC, mined up to block 54,316.

The analytics platform also provided a background into early Bitcoin mining conducted by Bitcoin's pseudonymous founder, Satoshi Nakamoto, referred to as "Patoshi."

For instance, for the entire range of blocks between height 2,000 and 16,000, the average number of blocks mined by Patoshi per hour was almost exactly 0.6 per 10 minutes.

Satoshi most likely kept this average because he considered 51% attacks as the most serious threat to the growing network, and by maintaining a constant 60% of processing power, he could prevent these attacks while still leaving enough blocks for others to mine. As more "honest" miners entered the network and the likelihood of a 51% attack decreased, Satoshi was able to gradually reduce mining activity.

Satoshi era wallets activated

This fact surrounding Satoshi's activity came to light in response to speculation about two recently activated dormant addresses from the Satoshi era, which refers to a loosely defined period from Bitcoin’s launch in 2009 through 2011, when the pseudonymous Bitcoin creator was still active online. Wallets from this time are rarely moved and watched closely by traders for market cues.

Whale Alert recently reported that two dormant addresses, each containing 50 BTC ($5,916,608), were activated after 15.3 years. Whale Alert stated that while the BTC were mined at the end of the period during which Satoshi was active (until around block 54,316), it is unlikely that Satoshi mined the blocks.

In the last known communication on April 23, 2011, to Bitcoin developers, Satoshi disclosed that they had moved on to other things, handing Bitcoin over to the community.