Bitcoin Mining Firm Foundry Digital To Distribute ‘Epic Satoshi’ Halving Profits Among Members
In Brief
Foundry Digital disclosed its intention to distribute the profits from the “epic satoshi” halving among its members.
Bitcoin mining company Foundry Digital disclosed its intention to distribute the profits from the “epic satoshi” halving among its members.
Foundry Digital functions as a software company specializing in digital asset mining and staking operations, dedicated to constructing, upholding, and safeguarding decentralized networks. Foundry USA Pool stands out as one of the leading mining pool operators regarding hashrate.
The Foundry Digital team highlighted that it has proactively taken measures to isolate the “epic sat” if Foundry USA Pool successfully mines this block. Foundry Digital plans to make reasonable efforts to monetize it, with the intention of distributing 100% of the proceeds to the pool participants.
The company also clarified that the profits generated would be allocated to the existing sub-account payment addresses on the USA Pool, depending on members’ computing power, within 24 hours on the day of the halving. Additionally, further communications would be conducted after the monetization process.
Bitcoin Network Surpasses 65M Ordinals Inscriptions, Boosting Miner Revenue
The “epic satoshi” denotes the initial satoshi mined following the upcoming halving event, marking the first instance since the introduction of the Ordinals protocol last year. Per the Ordinals protocol, which enables individual satoshis to be numbered and traded as collectibles, there is anticipation that the first satoshi mined post-halving may hold greater value attributed to its perceived rarity.
Recently, the Bitcoin network surpassed 65 million Ordinals inscriptions. As the first form of non-fungible tokens (NFTs) on Bitcoin, Ordinals have contributed substantially to Bitcoin miners, generating over $458 million in network fees, as reported by Dune. This financial support serves as a crucial source of sustenance for mining companies as the halving approaches.
Bitcoin’s upcoming halving, the fourth occurrence in its 15-year history, is scheduled to occur when the network reaches block height 840,000, which is anticipated to happen on Friday. It will decrease the miner’s rewards from 6.25 BTC to 3.125 BTC.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
