A solo miner has defied the odds by successfully processing Bitcoin block number 858,978, earning nearly $200,000 in Bitcoin rewards.
Another individual miner has just won the Bitcoin mining jackpot, successfully processing a Bitcoin block against all odds and earning just under $200,000 for their efforts.
Solo Miner Bags $200K Bitcoin Prize
According to information obtained from the Bitcoin block explorer Mempool.space, the miner processed block number 858,978 at 4:21 p.m. UTC. The block contained 2,391 transactions, rewarding the miner with 3.27 Bitcoin, equivalent to $199,094 at the current price structure.
Particularly noteworthy is the fact that the solo miner responsible for processing the block was the Solo CK Pool, which is a solo mining pool that does not behave in a conventional manner. Mempool.space’s information indicates that the Solo CK miner used a total of 456 petahashes of hashrate to solve the block.
There are now 665 exahashes per second (EH/s), which is considered to be the average network hashrate. This indicates that the miner who completed the transaction was operating at around 0.012% of the average hashrate.
As reported by BitInfoCharts, the hashrate of Bitcoin reached an all-time high of 754 EH/s on July 23. The SoloCK “pool,” despite its name, combines the hashrate of several smaller miners, but only the miner who solved the block receives the reward.
Within a year, the miner was able to solve 14 Bitcoin blocks, resulting in him collecting 59.3 Bitcoin, which, at the current price, is equivalent to $3.5 million.
Because of the prevalence of large mining companies like Riot Blockchain and Marathon Digital, which have enormous amounts of hash power, it is extremely rare for individual miners to successfully verify a block.
Since Bitcoin’s creation 14 years ago, there have been approximately 859,000 blocks produced, and the number of times that a single miner has successfully processed a block is so uncommon that it has only happened approximately 290 times.
A report in March 2023 revealed that a single miner received the full 6.25 BTC reward for solving a block. However, Bitcoin was significantly cheaper at the time, and the prize was approximately one hundred fifty thousand dollars.
Most recently, on July 25, a single miner solved block 853,742, which resulted in a reward of around $210,000. A single miner mined this most recent block.
