According to the cryptocurrency analysis firm LookOnChain, five Bitcoin (BTC) mining wallets that had remained inactive for over 15 years have suddenly become active. Earlier today, these wallets transferred out 50 BTC each, marking their first transaction since receiving the coins.
The Bitcoins were originally mined and deposited into these wallets on April 26, 2010, a time when Bitcoin was in its infancy and held little value. Over the last 15 years, the value of Bitcoin has skyrocketed, and the wallets have collectively generated a staggering profit of approximately $29.6 million.
The sudden activity of these dormant wallets has sparked curiosity within the crypto community, as such movements often raise questions about the motives and identity of the wallet holders.
Can You Still Make a Profit From Mining Bitcoin?
Yes, you can still make a profit from mining Bitcoin (BTC), but it has become much more challenging than it was in 2010. Back then, mining could be done on a simple home computer, and the competition was minimal. Today, the process requires specialized hardware like ASIC miners, significant energy consumption, and access to low-cost electricity to remain profitable.
In 2010, Bitcoin’s network difficulty was incredibly low, around 1. This allowed miners to secure blocks using standard desktop or laptop CPUs. Fast forward to today, and the network difficulty has skyrocketed to 127 trillion, according to Blockchain’s BTC data. This dramatic increase means traditional CPUs are no longer effective. Modern miners now rely on specialized ASIC machines, designed specifically for Bitcoin mining.
Bitcoin’s (BTC) block rewards have significantly decreased over the years. Back in 2010, miners earned 50 BTC for every block verified, as no halving events had yet occurred. By 2025, four halving events—2012, 2016, 2020, and 2024—have reduced the reward to 3.125 BTC per block. While the number of coins earned per block has dropped, the increasing value of BTC has helped maintain a balance in the system.
Moreover, Bitcoin mining can still be profitable, but the competition has skyrocketed. With mining farms, large corporations, and big investors flooding the crypto space, getting started with BTC mining is more challenging than ever.
Also Read: How High Could XRP Reach by 2030?
Disclaimer
The information in this article should not be considered financial advice, and the OvenAdd platform is intended only to provide educational and general information. Please conduct your own research and consult a financial advisor before making any investment choices.
