Satoshi Used One PC to Mine 1.1M Bitcoins

Satoshi Used One PC to Mine 1.1M Bitcoins

By Abhimanyu Krishnan | News | 24 Aug 2020

Sergio Dermain Lerner, a researcher who has extensively analyzed the mining habits of Satoshi Nakamoto, posted his latest findings via a blog post on August 22. Lerner suggests that Satoshi could have been a single individual who used just one computer to mine 1.1 million Bitcoins

  • In June 2020, Lerner published conclusions on Satoshi’s early mining activity, noticing that there was a distinctive pattern and that he would adjust his hashrate to allow others to mine
  • This particular miner was titled “Patoshi”
  • Patoshi’s blocks can be grouped into 5 categories based on a nonce value, which typically increases with every mining attempt
  • However, Patoshi worked within a limited range and decreased the nonce value with every attempt; this led to the the idea that the miner was calculating the “5 subranges in parallel, but each subrange internally sequentially” 
  • The long and short of the most recent analysis by Lerner is that Patoshi was using a single CPU with strong multithreading capabilities
  • The use of a single CPU would suggest that Satoshi was one person, not a group of people

Related Reading:`

  • Satoshi probably used a Russian proxy
  • Cardano founder Charles Hoskinson suggests that Blockstream founder Adam Back could be Satoshi

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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