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      Bitquery Analysis Links Up to 1.17 Million Bitcoin to Early Miner

      Bitquery, a blockchain data analytics firm, has released a detailed analysis of Bitcoin's initial mining activity, revealing that a single entity is responsible for mining approximately 22% of the first 54,316 blocks. This entity is believed to have accumulated between 900,000 and 1.17 million Bitcoin, a significant portion of which has remained untouched for years, suggesting a strong link to Bitcoin's creator, Satoshi Nakamoto.

      The analysis focuses on the Patoshi mining pattern, a distinctive signature identified by researcher Sergio Demian Lerner in 2013. This pattern arises from a flaw in Bitcoin's original software that allowed for detectable sequences in coinbase transactions. Bitquery's findings align closely with previous research, confirming that a single miner dominated the early days of Bitcoin, using custom software while others relied on standard tools.

      As of September 1, 2026, it is estimated that over 1 million Bitcoin associated with the Patoshi pattern have never been spent, with the last known transaction from this era occurring in December 2017. This dormant Bitcoin represents about 5% of the total supply of 21 million coins, which raises questions about the identity of the miner and the future of these coins, especially given that Satoshi Nakamoto's public communications ceased around the same time the mining activity linked to this pattern ended.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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