The premine flag sets the address that should be included with a starting balance in the genesis file. In this case, the address 0x1010101010101010101010101010101010101010 will have a starting default balance of 0x3635C9ADC5DEA00000 wei.
If we wanted to specify a balance, we can separate out the balance and address with a :, like so:
Now that the client is up and running in dev mode, using the genesis file generated in step 1, we can use a tool like curl to query the account balance: