The Block: U.S. government to auction off more than 4,000 BTC on Feb. 18

More than 4,000 bitcoins – an amount worth approximately $37 million as of press time – will be auctioned off by U.S. law enforcement officials on February 18.

The U.S. Marshals Service said on Monday that it will put up 4,040.54069820 BTC on the auction block on February 18. A $200,000 deposit is required for those wishing to participant, and would-be bidders must register by February 12.

The Marshals Service held its first bitcoin auction in the summer of 2014 – which, as reported at the time, saw investor Tim Draper win nearly 30,000 BTC across 10 auction blocks. A number of other auctions, including more coins seized during the U.S. government's investigation into the now-defunct dark marketplace Silk Road, have been held in the years since. The most recent took place in late 2018.

This month's auction will see four blocks – 2,500 BTC, 1,000 BTC, 500 BTC and 40.54069820 BTC, respectively – during the event.

"The USMS will notify all bidders about their eligibility to participate in the auction by email no later than 5:00 PM EST on Thursday, February 13, 2020," the USMS said in its statement.