The Fierce Battle for Blockspace: Bitcoin’s Top 10 Most Valuable Blocks Mined Post-Halving
Bitcoin’s Halving Sparks Fierce Battle for Blockspace
Bitcoin’s halving may have split the reward paid to miners in half, but a fierce battle for blockspace generated millions of dollars of payments to miners as the halving commenced.
Top 10 Most Valuable Blocks Mined Since the Halving
In fact, aside from an apparently accidental $3 million overpayment last November, all of Bitcoin’s top 10 most valuable blocks have been mined since the halving, as first flagged by X user Clark Moody, in terms of U.S. dollar value at the time the block was mined. The first halving block captured $2.6 million in fees and block rewards alone, nearly taking the top slot, while others were worth $1.3-$2 million.
Valuable Blockspace and Unique Incentives
Unlike that overpayment, which still stands as Bitcoin’s most valuable block, the transactions since the halving were purposeful attempts to capture valuable blockspace.
For example, the miner of the first block at Bitcoin’s halving would be entitled to one of four so-called “epic sats,” or satoshis, units of Bitcoin inscribed with particular data. Epic sats, which are created once every halving, are one hundred times rarer than “rare sats,” one of which sold for over $100,000 as part of a Sotheby’s auction. T
his epic sat, being the first to be mined since the invention of the Bitcoin Ordinals protocol, may also be the first to be sold.
Also at stake were Runes, a new protocol to inscribe data on Bitcoin’s halving blockchain. The first Rune was deployed for $430,000 as an airdrop to holders of certain Ordinals collections, according to Arkham, while others also paid hundreds of thousands to deploy their own collections.
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