Solo Bitcoin Miner Wins $180K Block Reward Amid Rising Mining Difficulty
A solo Bitcoin miner defied the odds, securing a block reward worth $180,000 through the Solo CK mining pool. This rare win highlights the challenges solo miners face against large institutional mining pools.
In a remarkable turn of events, a solo Bitcoin miner has secured an entire block reward worth $180,000, a rare feat in the increasingly competitive world of Bitcoin mining. Typically dominated by large mining pools with massive computing power, the victory of a solo miner is akin to hitting the jackpot.
Bitcoin mining has become more challenging as advanced rigs and powerful institutional miners now dominate the landscape. Blocks are mined approximately every 10 minutes, with a reward of 3.125 BTC for successfully mining a block. As the network’s hashrate climbs to all-time highs, solo miners face long odds, but they continue to operate in the hopes of landing a rare win.
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On September 10, one solo miner managed to mine Block 860749, which contained 5,935 transactions. The miner earned 3.169 BTC, amounting to $182,505, through the Solo CK mining pool. What makes this victory even more impressive is that the miner contributed just 0.098% of the total hashrate, which stood at a staggering 644.91 EH/s that day.
Out of the 859,000 Bitcoin blocks produced since 2009, solo miners have solved only 290 blocks, demonstrating the slim odds of success. Yet, this achievement serves as a reminder that despite the odds, solo miners can still secure substantial rewards in the Bitcoin network.
The mining landscape has grown even more competitive recently, with Bitcoin’s hashrate reaching a new high of 742 EH/s on September 1, a 62% increase from the previous year. This rise in hashrate reflects the growing difficulty of mining, making the solo miner’s success even more extraordinary.
In an era where large mining pools dominate the Bitcoin network, rare victories like these show that solo miners still have a chance, albeit a small one, to hit it big.
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