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21 June 2021

How Many People Mined BTC Alongside Satoshi? 2010 Data Shows Bitcoin's Creator Wasn't the Only Mining Whale – Featured Bitcoin News

How Many People Mined BTC Alongside Satoshi? 2010 Data Shows Bitcoin's Creator Wasn't the Only Mining Whale – Featured Bitcoin News


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It is unlikely that the mystery whale is Nakamoto, and even though the inventor mined a million bitcoin, many others were mining alongside the creator’s efforts.

3.39 million BTC was mined in 2010 and at this point in time, an individual could still leverage a central processing unit (CPU) to mine bitcoin up until mid-2010.

Between the CPU and GPU period, a lot more people could mine bitcoin alongside the creator, who left the community in December 2010.

The 3.3 million BTC acquired in 2010 were mined under a network mining difficulty of around 1.18 to 14,484.

This data indicates that during the first two years the Bitcoin network operated, the difficulty to mine bitcoin was extremely low.

If there were a few hundred people or upwards of a few thousand people mining bitcoin in 2010, the hashrate was only 0.0000436 TH/s.

We know from forum posts on bitcointalk.org that lots of people were mining bitcoin by July 2010.

In December 2009, it was obvious that people were leveraging GPU mining rigs to mine bitcoin and people also knew that ASIC mining was on its way.

Yet between that period over 4.9 million bitcoin was mined into existence which leaves 3.8 million left for other mining participants.

All this in view, we can say that many others mined bitcoin alongside Satoshi during the creator’s time kickstarting the network, until December 2010.

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