Two Bitcoin addresses that had been dormant since 2010 suddenly moved $6.9 million worth of BTC on Friday, bringing early mining rewards back into circulation after more than 16 years of inactivity.
Blockchain tracking service Whale Alert flagged the first transfer at 4:08 a.m. UTC on November 13, when 50 BTC worth approximately $3.44 million moved from an address that had not spent its original mining reward since September 2010. Just over two minutes later, another 50 BTC moved from a separate wallet with an equally long history.
Both transfers involved Bitcoin originally generated through mining rather than coins purchased on an exchange. The coins came from two blocks mined on September 8 and September 19, 2010, respectively. At Friday's transaction prices of approximately $68,800 per Bitcoin, their combined value had increased roughly 1,147,511 times compared to their estimated $6 value in 2010.
The first transaction split the 50 BTC into two new addresses, sending nearly 49.99 BTC to one address and approximately 0.01 BTC to another, minus network fees. The second transaction followed a similar pattern, transferring nearly 49 BTC to one address and approximately 1 BTC to another. Both transactions cost 1,110 satoshis each in network fees, equivalent to approximately $0.75.
A subsequent consolidation of coins from both wallets suggests coordinated control, though the owner's identity and intentions remain unknown. It is unclear whether the transfers represent a peer-to-peer transaction, an over-the-counter sale, or simply a wallet switch for security reasons. As of Friday afternoon UTC, the 100 BTC had not moved again from their new destinations, and no sale has been identified.
The activity adds to a broader trend of ancient Bitcoin wallets waking up in 2026. According to Galaxy Research data from August, Bitcoin that had remained untouched for at least a decade was moving at a pace rarely seen in previous years. Some of those movements have been linked to security concerns, wallet upgrades, or transfers to professional custodians rather than outright selling.
