A Bitcoin wallet from the early days of Bitcoin, specifically from 2010, has become active again after 14 years and sent 50 Bitcoins to the Binance crypto exchange.

The term “Satoshi era” refers to the time between 2009 and 2011 when Bitcoin’s mysterious creator, Satoshi Nakamoto, was still participating in online discussions.

According to the onchain analytics firm Lookonchain, this particular Bitcoin wallet is associated with a miner who earned 50 BTC as a reward for mining a block in July 2010. Back then, the reward for mining a single block was 50 BTC, unlike today’s reward of 3.125 BTC per block.

When this miner earned the 50 BTC reward, Bitcoin was priced around $0.05, making the value of the reward just $25 at the time. Today, Bitcoin’s worth has skyrocketed, making this early mining reward incredibly valuable.

The history of this wallet shows that the miner managed to mine only one block, a task that has become exceedingly rare today due to the increased competition and difficulty of mining Bitcoin. Nowadays, the Bitcoin network’s hashrate is at an all-time high, making solo mining successes like this almost impossible.

The movement of Bitcoins to a centralized exchange like Binance is often interpreted as a bearish signal, suggesting that the owner might be planning to sell the assets. As of now, Bitcoin is trading just above $61,000, although it has dipped below this level several times in recent days. This price is down 17% from its peak of over $73,750.

In the past year, several dormant Bitcoin wallets, especially from the Satoshi era, have become active again. These wallets often transfer their Bitcoins to new wallets or sell them on exchanges.

Satoshi Nakamoto envisioned that people could mine Bitcoin using their home computers. However, as Bitcoin’s value increased and mining rewards decreased due to halving events, Bitcoin mining has evolved into a highly competitive industry with large-scale operations.

Today, many companies have invested in extensive mining setups with hundreds of advanced machines to enhance their Bitcoin mining capabilities. Some of these companies have even gone public.

The competition for mining Bitcoin has driven up the mining difficulty significantly. As a result, even expensive mining equipment cannot ensure the successful mining of a single block without substantial investment and scale.