Foundry Pool to Share Profits from Potential ‘Epic’ Satoshi Mining

The team at Foundry USA mining pool plans to distribute profits from the commercialization of an ‘epic’ satoshi (epic sat) among participants, should they mine the first Bitcoin block post-halving.

A screenshot of the announcement was shared by The Mining Pod podcast host Will Foxley. A similar message was posted by Ethereum Ninjalerts CEO Trevor Owens.

Experts have previously noted that miners are on the hunt for the epic sat. Some estimates suggest the asset’s price could reach $50 million. However, according to the classification by Ordinals protocol creator and Bitcoin developer Casey Rodarmor, the first satoshi post-halving does not rank highly in terms of rarity.

“We have taken steps to isolate the epic sat if Foundry USA mines this block, and we will make reasonable efforts to monetize it and distribute 100% of the proceeds among pool participants,” the statement reads.

The allocation of potential profits will be based on users’ hash rate over a 24-hour period on the day of the block reward reduction.

The Foundry team added that “further communication” will occur after profits are realized.

“The concept of ‘rare’ satoshis is so idiotic it seems like satire… But honestly, hats off to the people selling it — it’s truly a legendary scam designed to convince people to pay more,” commented Titcoin podcast host known as Walker. 

A user with the pseudonym infopocalypse expressed a similar sentiment:

“Sat is just a unit of measurement. There is no 1st sat. This is a scam.” 

Sat is just a unit of measurement. There is no 1st sat. This is a scam.

— infopocalypse (@infopocalypse1) April 18, 2024

Renowned Ordinals critic and Bitcoin developer Luke Dashjr also joined the criticism.

Foundry isn’t every miner. And the correct term for this is SCAMMING

— Luke Dashjr (@LukeDashjr) April 17, 2024

“Foundry doesn’t represent all miners. And the correct term for this is scamming,” he wrote.

Comments noted it would be “poetic” if the epic sat were mined by the Ocean pool, co-founded by the programmer. However, responses pointed out the low likelihood due to the pool’s small share of Bitcoin’s hash rate.

“Years from now, we’ll look back and laugh at how foolish this scam was. ‘Satoshis’ don’t exist. It’s a unit of measurement defining the size of a specific UTXO,” supported the skeptics TFTC media project founder Marty Bent.

In response to the criticism, Foxley noted that Foundry had claimed the “first in block sat.”

Following the halving, the launch of Rodarmor’s Runes protocol is anticipated as a competitor to the BRC-20 standard based on Ordinals. The solution has already sparked excitement among users.