Solo Bitcoin Miner Hits the Jackpot, Securing a Block Reward Worth $180K

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.

A solo Bitcoin (BTC) miner has hit the jackpot, securing an entire Bitcoin block reward amounting to approximately $180,000.

In the competitive landscape of Bitcoin mining, where large mining pools usually dominate the scene, a solo miner winning a block is a rare occurrence.

The challenge of solo mining lies in the fact that 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 possess vast computing power. Despite newer solo mining rigs like BitAxe offering higher speeds of 500 GH/s, solo miners rarely win block rewards.

However, on September 10, a solo miner managed to achieve this feat, mining Block 860749, which contained 5,935 transactions.

The miner earned 3.169 BTC, valued at $182,505, through the Solo CK mining pool.

This achievement is particularly impressive considering that the miner contributed just 0.098% of the total computing power, or hashrate, securing the Bitcoin network, which was recorded at 644.91 EH/s on that day.

Since 2009, solo miners have only solved 290 blocks out of the 859,000 Bitcoin blocks produced.

This latest win by a solo miner serves as a reminder that despite the increasing difficulty and competition, solo miners still have a chance to earn significant rewards.

Bitcoin’s hashrate reached a new high of 742 EH/s on September 1, showing a 62% increase from the previous year.

This surge in hashrate further highlights the difficulty in mining, making the solo miner’s victory even more remarkable.

In an era where large players dominate, solo mining victories like this remain rare yet rewarding.

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