Bitcoin Sender Struck With $3.1M Transaction Fee, Largest in History

Antpool mined the block and the sender's wallet was set up just minutes before the transfer.

AccessTimeIconNov 23, 2023 at 2:48 p.m. UTC
Updated Mar 8, 2024 at 5:34 p.m. UTC

Someone paid $3.1 million in transaction fees for a bitcoin (BTC) transfer on Thursday. Bitcoin miner Antpool was rewarded for mining the block. It received the standard 6.25 BTC as well as 85.2163 BTC in fees for all transactions included in the block, on-chain data shows.

Today's transfer, mined in block 818087, becomes the largest transaction fee paid in bitcoin's 14-year history.

  • Big Tech Comes to Small Town: A Bitcoin Mining Story in Spur
    15:03
    Big Tech Comes to Small Town: A Bitcoin Mining Story in Spur
  • What's the Biggest Misconception People Have About Bitcoin Mining?
    00:39
    What's the Biggest Misconception People Have About Bitcoin Mining?
  • Bitcoin’s Price Is Way Up. And $48 Trillion in Wealth Just Got Access
    45:11
    Bitcoin’s Price Is Way Up. And $48 Trillion in Wealth Just Got Access
  • What You Need to Know About the Bitcoin Halving
    01:47
    What You Need to Know About the Bitcoin Halving
  • The sender's wallet was set up just minutes before the transfer, and the recipient received only 55.78 BTC of the original 139.42 BTC that was sent.

    In September, F2Pool returned a 19.8 BTC fee that was mistakenly sent by Paxos. AntPool, a mining pool owned by Bitmain, has not published an announcement in relation to the apparent overpaid fee.

    Recently, bitcoin fees have experienced a significant uptick following increased activity around Bitcoin-based NFT project Ordinals. However, this transaction appears to be an individual error instead of a wider market impact.

    Antpool did not immediately respond to CoinDesk's request for comment.

    Edited by Aoyon Ashraf.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Oliver Knight

    Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.


    Read more about