Foundry, a company specializing in digital asset mining and staking, has unveiled its plans to capitalize on what it refers to as the “epic satoshi,” the first satoshi of the halving block, by utilizing Ordinals. If Foundry successfully mines this satoshi through its mining pool, it intends to distribute the profits to its members based on their hashrate on the day of the bitcoin halving.
Foundry’s objective is to monetize the upcoming Bitcoin halving by leveraging the market value associated with the Ordinals protocol. In a recent communication sent to members of its Foundry USA mining pool, the New York-based company acknowledged the potential value that speculation could generate for the first satoshi in the halving block, which it has dubbed the “epic satoshi.”
Developed by Casey Rodarmor, Ordinals is a protocol that assigns numismatic value to each satoshi, enabling enthusiasts to collect them. This particular satoshi holds special significance for Ordinals collectors, hence Foundry’s determination to isolate and monetize it, making “reasonable efforts” to share the proceeds with pool members. The distribution of profits will be based on each user’s hashrate within Foundry’s pool on the day of the Bitcoin halving.
Furthermore, Foundry has expressed its commitment to delivering the highest level of value, service, and transparency to its clients.
Will Foxley, host of the Mining Pod, emphasized the significance of this development for bitcoin miners seeking to capitalize on ordinal-linked opportunities. He stressed that “every mining company is now an Ordinals company.”
However, no other company has made a comparable announcement regarding the “epic satoshi” and the procedures it would follow if mined.
What are your thoughts on Foundry’s plan to isolate and monetize the “epic satoshi”? Share your opinions in the comments section below.
