A solo Bitcoin miner has achieved a rare victory, securing an entire Bitcoin block reward worth $180,000. In the highly competitive world of Bitcoin mining, where large mining pools usually dominate, a solo miner winning a block is like hitting the jackpot.
The Challenge of Solo Mining
Mining Bitcoin has become more difficult due to the rise of advanced mining rigs and the increasing power of mining pools. Bitcoin blocks are typically mined every 10 minutes, and the reward for successfully mining a block is currently 3.125 BTC.
With Bitcoin’s hashrate at all-time highs, solo miners face long odds against larger institutional miners who have vast computing power. Despite newer solo mining rigs like BitAxe offering higher speeds of 500 GH/s, solo miners rarely win block rewards.
Solo Miner Hit Jackpot Of $180K
On September 10, a solo miner defied the odds by mining Block 860749, containing 5,935 transactions. This miner earned 3.169 BTC, worth $182,505, through the Solo CK mining pool.
This achievement is even more incredible because the miner contributed just 0.098% of the total computing power, or hashrate, securing the Bitcoin network. The hashrate on that day was recorded at 644.91 EH/s.
Out of the 859,000 Bitcoin blocks produced since 2009, solo miners have only solved 290 blocks. This latest win serves as a reminder that despite the increasing difficulty and competition, solo miners still have a chance to earn significant rewards.
Growing Difficulty of Mining
Bitcoin’s hashrate reached a new high of 742 EH/s on September 1, a 62% increase from the previous year. This surge in hashrate reflects the rising difficulty in mining, making the solo miner’s win even more impressive.
In an era where large players dominate, solo mining victories like this remain rare yet rewarding.
Source: https://coinpedia.org/news/solo-bitcoin-miner-won-bitcoin-mining-lottery-earn-reward-of-180000/