Solo Bitcoin Miner Snags $200,000 Block Reward, How Did They Do It?
30 Oktober 2023 - 8:00PM
NEWSBTC
A solo Bitcoin miner has struck gold after successfully claiming a
$200,000 block reward. The considerable achievement has captured
the attention of fellow miners and crypto enthusiasts, highlighting
the potential for lone miners to effectively compete with larger
mining operations Lone Bitcoin Miner Hits Jackpot On October
28, a software engineer of Bitcoin CGMiner and an admin of Solo
Ckpool, Dr. Con Kolivas congratulated a lone Bitcoin miner in an X
(formerly Twitter) post for accomplishing a rare milestone by
solving the 278th solo block at Solo Ckpool. Related Reading:
Crypto Analyst Presents Uniswap’s UNI As The Next Coin Primed For
Breakout The lucky miner used 11 PH/s of hash power to discover
block 814,308 and claimed a $200,000 (6.25 BTC) block reward.
“Congratulations to miner 3KCykmdpBpNKTtZJAvp3u2N2EQjGzbUF7c with
~11PH for solving the 278th solo block on solo.ckpool,” Dr. Kolivas
stated. Presently, large-scale mining operations and pools
are dominating the Bitcoin mining industry. When blocks are
discovered, these mining companies often share the rewards. In
contrast, mining pools like Solo Ckpool offer lone miners a higher
level of independence allowing them to earn almost all rewards when
they discover a block. This recent solo mining achievement
has not been the only accomplishment this year. In August, a solo
Bitcoin miner solved block 803,821, claiming 6.25 BTC worth
$160,000. Multiple solo miners have also discovered substantial
blocks and reaped significant rewards in the last few months.
The lure of solo mining pools is growing as many miners are looking
to increase their chances of earning large rewards while reclaiming
a sense of independence in the competitive Bitcoin mining
market. BTC Mining Hashrate On The Rise Bitcoin Hashrate has
continued to increase following the recent surge in the value of
BTC. Earlier on October 12, the hash rate saw an alarming increase
to 456 exahash per second (EH/s). Following this increase, the hash
rate stabilized slightly dropping down to 443 EH/s sometime on
October 28. Related Reading: Bitcoin Bull Market: Crypto Spot
Trading Volumes Climb To 8-Month Highs Despite the increased level
of mining difficulties, hash rates are rising. Bitcoin hash rate is
slightly back up today to 452.63 EH/s with an estimated difficulty
adjustment of 12.78% and network difficulty of 62.46T. The average
block time for mining is also approximately 8 minutes and 52
seconds. In the past month, mining hash prices fell to
significant lows, depicting the possibility of chain validators
experiencing higher mining difficulties and pressure. Now, hash
rates are on the rise and Bitcoin miners are taking advantage of
these opportunities to increase their earnings. BTC price resumes
rally | Source: BTCUSD on Tradingview.com Featured image from
Shutterstock, chart from Tradingview.com
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