Bitcoin mining firm Foundry plans to redistribute halving 'epic sat' proceeds

Foundry Digital’s USA Pool Team said it will distribute profits to its members if the pool mines the first satoshi in the halving block, according to an email screenshot posted by The Mining Pod host Will Foxley on X. 

“We’ve taken the steps to isolate the epic sat if Foundry USA Pool does mine this block, and we will make reasonable efforts to monetize it and distribute 100% of the proceeds to our pool members,” the team said in the email. Ethereum tracker Ninjalerts CEO Trevor Owens also posted a screenshot of the same email, but it is unclear whether Foxley or Owens received the email directly from Foundry. 

Foundry Digital, owned by the Digital Currency Group, did not immediately respond to The Block’s request for comment.

The “epic sat” refers to the first individual satoshi mined after the imminent halving event — the first after Ordinals launched last year. With the Ordinals protocol allowing individual satoshis to be numbered and traded like collectibles, the first mined after the halving is expected by some to have a higher worth for its supposed rarity. 

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The team explained that the generated profits would be allocated to existing sub-account payout addresses on the USA Pool, based on the member’s hashrate in the 24-hour period on the day of halving. “Further communications will be done post-monetization,” the Foundry team added.

However, several X users cast doubt on Foundry’s planned distribution plan and the existence of an “epic sat” itself. “Sat is just a unit of measurement. There is no 1st sat. This is a scam,” wrote X user @infopocalypse1. Bitcoin BTC -2.0090% core developer Luke Dashjr called the plan a scam in a reply to Foxley’s post.

Bitcoin’s quadrennial halving event , which reduces miner rewards from 6.25 BTC to 3.125 BTC, is predicted to occur on Friday.