Satoshi’s Bitcoin Mining Costs Were Shockingly Low, Cardano Co-Founder Reveals

Key Points

1. Satoshi Nakamoto mined 1 million BTC for under $3,700 due to low competition and CPU mining in 2009–2010.

2. A single mining rig using 190 watts of electricity operating 75% of the time over 485 days was the most efficient setup.

3. Sergio Lerner's analysis suggests Satoshi mined with a cluster of machines, with costs potentially rising to $3,700 if more energy was needed.

4. Ripple CTO David Schwartz revealed he holds 250 Bitcoins, mined when BTC was trading at a much lower price.