Blockchain analytics provider Whale Alert has uncovered all of Satoshi Nakamoto’s mined Bitcoin (BTC), as revealed in a blog post published on July 20. The provider had made an effort to see which blocks had been mined by the Patoshi miner - and drew some interesting conclusions beyond discovering which blocks and how many Bitcoins (BTC) had been mined. 

According to the analysis, Satoshi mined 1,125,150 Bitcoins up to block 54,316. This amounts to roughly $10.9 billion by today’s prices. But more interestingly, Whale Alert said that the purpose of the mining carried out by Patoshi was to “defend the young network from attacks.”

The identity of Patoshi has been conclusively linked to Satoshi Nakamoto because the former is responsible for mining the block that created the Bitcoins sent to Hal Finney, which Satoshi sent in the early days. It was discovered by Sergio Demian Lerner that there was a distinct pattern in Patoshi’s mining activity, which eventually led to much discussion and analysis of Patoshi and the early network activity. 

Whale Alert used that as a starting point in its lengthy analysis, which is worth reading in full. They said that the goal was not just to find out how much Satoshi owned; it was also to find out why those Bitcoins were mined in a unique manner. Believing that it is likely that at least one non-Patoshi pattern belongs to Satoshi, they say that it is impossible with certainty if Satoshi stopped mining.

Did Satoshi stop mining with the Patoshi miner after block 54,316? It is impossible to know whether the mining software was changed and became undetectable as a result or if Satoshi continued mining using the publicly available mining software.