Solo Bitcoin Miner Bags Nearly $200K Reward with Latest Block

• A solo Bitcoin miner earned $199,101 by successfully mining the Bitcoin block 858,978 on Aug 29.
• The block contained 2,391 transactions, and the reward for processing was 3.27 BTC.

While the Bitcoin miners are facing difficulties in maintaining profitability following the April 19 halving, a solo miner has successfully processed Bitcoin block 858,978 and netted nearly $200,000. The block, processed at 4:21 PM UTC on August 29, included 2,391 transactions and yielded a reward of 3.27 BTC, valued at around $199,101.

Despite having a relatively low hashrate of 456 PH/s, the lucky miner—linked with the Solo CK Pool—managed to process this block. The Solo CK Pool is a unique solo mining pool that runs differently from regular mining pools. In addition, the network hashrate entirety was only about 665 EH/s; therefore, this individual effort is more noteworthy.

Solo CK Pool Boosts Smaller Miners

The Solo CK Pool benefits smaller miners by pooling their efforts and crediting them for their donations. In this manner, even miners with limited processing capability can participate in this mining and share in the profits. The pool helps these miners by boosting their odds of successfully mining a block.

Further, over the past year, the Solo CK Pool has mined about 14 blocks and collected 59.3 BTC, roughly $3.5 million at the current prices. This success is notable given the high hashrate environment and the dominance of major mining companies like Riot Blockchain and Marathon Digital.

Moreover, Solo mining remains a rare achievement, with solo miners having processed blocks only around 290 times in Bitcoin’s history. The last such case occurred on July 25, when another solo miner processed block 853,742.

Recently, Bitcoin has been struggling to break the key resistance level of $62k. At the time of writing, BTC traded at $59,385, which is a drop of over 4% from the previous day’s high of $61,184.

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