{"id":46569,"date":"2023-03-13T06:37:24","date_gmt":"2023-03-13T10:37:24","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=46569"},"modified":"2023-03-13T06:37:33","modified_gmt":"2023-03-13T10:37:33","slug":"solo-bitcoin-miner-gets-over-150k-block-reward","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/solo-bitcoin-miner-gets-over-150k-block-reward\/","title":{"rendered":"Solo Bitcoin miner gets over $150K block reward"},"content":{"rendered":"\n

The 780,112th block in the Bitcoin blockchain<\/a> was successfully mined by a solo Bitcoin miner, who was rewarded with 6.25 Bitcoin as a result. The payoff is expected to be worth more than $150,000.<\/p>\n\n\n\n

\"Solo
Solo Bitcoin miner gets over $150K block reward<\/figcaption><\/figure>\n\n\n\n

While the event itself is uncommon and it can take months for a lone miner to obtain a legitimate hash, the solo miner was also fortunate to have done so after only two days of mining.<\/p>\n\n\n\n

In the 13-year history of Bitcoin, the unusual incident took place on March 10 and was the 270th solo mined block<\/a>. The occurrence is unusual because a lone miner of this magnitude typically solves a block once every 10 months or so.<\/p>\n\n\n\n

\n

Congratulations to miner39nDQ9BexEBXpRdkHY1z95CaMDEwh6muPW who solved the 270th solo block at https:\/\/t.co\/UWgBvLkDqc\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> with 6.7PH but doesn't appear to have been mining for very long https:\/\/t.co\/WGVBC3QajX<\/use><\/svg><\/span><\/a><\/p>— Dr -ck (@ckpooldev) March 10, 2023<\/use><\/svg><\/span><\/a><\/blockquote>

Using the Solo CK Pool mining service, the miner established a solo mining pool. For producing a valid block hash, they were paid 6.25 BTC, with a fee reward of around 0.63 BTC.<\/p>\n\n\n\n

Con Kolivas, the administrator of the Solo CK mining pool, pointed out that the miner responsible for the unusual occurrence might have momentarily rented hashing capacity to generate the output hash.<\/p>\n\n\n\n

\"\"
Solo Bitcoin miner\u2019s output hash.  Source: BTC explorer<\/figcaption><\/figure>\n\n\n\n

To solve and add the next Bitcoin block to the network, miners must contribute computational power to the bitcoin network. Yet, it's very impossible for a single miner to solve the entire block on their own due to the rising popularity of BTC mining, the constant increase in the network hash rate, and strong mining equipment<\/a>.<\/p>\n\n\n\n

As a result, a valid block hash is frequently generated using the combined computing power of several mining rigs that are all competing to mine the next block. Each miner in the mining pool receives a portion of the block reward based on how quickly they process input.<\/p>\n\n\n\n

Other solo-mined Bitcoin blocks have also been produced by the Solo CK mining pool. Two of these solo-mined blocks appeared in January 2022, one on January 11, 2022, with a block height<\/use><\/svg><\/span><\/a> of 718,124, and the other on January 24, 2022, with a block height of 720,175.<\/p>\n","protected":false},"excerpt":{"rendered":"

The 780,112th block in the Bitcoin blockchain was successfully mined by a solo Bitcoin miner, who was rewarded with 6.25 Bitcoin as a result. The payoff is expected to be worth more than $150,000. While the event itself is uncommon and it can take months for a lone miner to obtain a legitimate hash, the […]<\/p>\n","protected":false},"author":12,"featured_media":3973,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83],"tags":[754,13737,777,13735],"class_list":["post-46569","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin-mining","tag-block-reward","tag-crypto-mining","tag-solo-bitcoin-mining"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/06\/Elon-Musk-has-no-role-says-the-Bitcoin-Mining-Council.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/46569","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=46569"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/46569\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/3973"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=46569"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=46569"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=46569"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}