What Was Inside Bitcoin’s Biggest Block?

In support of bitcoin NFT project Ordinals, Luxor Mining and crypto developer Udi Wertheimer mined the largest-ever bitcoin block

article-image

Yurchanka Siarhei/Shutterstock.com modified by Blockworks

share

The biggest Bitcoin block ever has just been mined, 14 years after the blockchain went live.

It contained an Ordinal, the controversial new genre of NFT which recently debuted on Bitcoin.

In an apparent tease for a forthcoming bitcoin NFT collection, Luxor Mining and popular Bitcoin figure Udi Wertheimer mined the largest-ever bitcoin block, the company announced Tuesday. 

Block 774628 housed the “Taproot Wizard,” a play on the legendary “magic internet money” meme featuring a bitcoin wizard. It was 3.96MB large, close to Bitcoin’s block size limit (which can be stretched to 4MB with SegWit). 

The transaction containing the Ordinal made up 3.94MB, about 99.5%. There were 63 transactions in total, including the 6.25 BTC ($149,000) coinbase reward, which also went to Luxor.

“The image is higher resolution so it contains more pixels (and thus more bytes),” Colin Harper, head of research and content at Luxor Mining, told Blockworks.

Luxor announced the block via Twitter Tuesday evening, teasing followers that other wizards may be available soon. The firm earned an additional 0.009 BTC ($209) in fees for successfully mining the block.

Ordinals — the new platform taking the industry by storm — store texts, images, SCG or HTML on-chain, attached to individual satoshis, bitcoin’s smallest unit currently worth $0.000231. 

Read More: Bitcoin NFTs: Love ‘Em or Hate ‘Em, You Can’t Ignore ‘Em

Similar to the NFT concept, inscribed satoshis can then be transferred freely via the Bitcoin blockchain.

Loading Tweet..
This image is inscribed forever to satoshi 1308063627208201

The features are made possible using a loophole from the Taproot upgrade in 2021, which enabled “practically unlimited (capped by block size) storage using Opcodes, an executable script in a txn that can store arbitrary data,” Blockworks Research analyst Matt Fiebach said.

Ordinals creator Casey Rodarmor boasts the NFT protocol holds digital artifacts to a “higher standard,” he wrote in a blog post. Ordinals cannot be stored off-chain or on centralized servers, he said. 

Industry members continue to take a mixed view on Bitcoin NFTs, but Ordinals appear to be here to stay.

Updated Feb. 2, 2023 at 12:05 pm ET: Added comment from Luxor Mining’s Colin Harper.

Updated Feb. 2, 2023 at 1:39 pm ET: Adjusted excerpt.

Updated Feb. 2, 2023 at 4:33 pm ET: Corrected Bitcoin’s block size limit.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (1).png

Research

Aave’s revenues have doubled from April lows and are fast approaching all-time highs. With 35% of borrow interest coming from ETH and 55% from stablecoins, Aave is emerging as a powerful proxy as an ETH and stablecoin beta. As looping strategies accelerate growth and Horizon positions the protocol to ride the RWA wave, Aave is shaping up as one of DeFi’s most compelling multi-narrative plays.

article-image

Bitwise investment strategist expects end to “the wild-west phase of public companies …turning into crypto vehicles”

article-image

The first Solana treasury company is set to make its US debut

article-image

The Solana DAT reportedly plans to raise $1 billion

article-image

YO’s new yoEUR vault lands as incentives try to pull EURC onchain, but fragmented bridges and caps keep markets segmented

article-image

Astana regulator begins trial accepting USD-backed stablecoins for payments through Bybit integration

by Blockworks /
article-image

The Trump-backed DeFi project is believed to have blacklisted Sun’s wallet, triggering market pressure

by Blockworks /