‘Very Fortunate’ Solo Miner Solves Bitcoin Block for $148K Reward

A solo Bitcoin miner was rewarded for including block 780,112 to Bitcoin’s blockchain, beating the chances as numerous others raced towards the identical purpose.

The miner used the Solo CK Pool mining service to ascertain a solo mining pool, the place they produced a legitimate hash for the block and acquired a reward of 6.25 BTC and a payment reward of round 0.63 BTC—price about $148,000—in response to BTC.com’s Bitcoin explorer.

A Twitter consumer identified how fortunate the solo miner was to provide the legitimate hash, saying it might sometimes take a miner for much longer to create a legitimate transaction given the restricted computing energy they used.

“A miner of this dimension will resolve a block on common about as soon as each 10 months,” Twitter consumer @ckpooldev acknowledged. “They’ve solely been mining solo for the final 2 days so has been very fortunate.”

Congratulations to miner39nDQ9BexEBXpRdkHY1z95CaMDEwh6muPW who solved the 270th solo block at https://t.co/UWgBvLkDqc with 6.7PH however does not seem to have been mining for very lengthy https://t.co/WGVBC3QajX

— Dr. Con Kolivas (@ckpooldev) March 10, 2023

The miner labored with a mean hashing energy of 6.7 PH/s (petahashes per second), in response to @ckpooldev. Across the time that the block was added, Bitcoin’s whole hash fee was round 308,262 PH/s, that means the solo miner’s 6.7 PH/s hash fee represented roughly 0.002% of the blockchain’s whole computational energy.

An account on the Bitcoin discussion board bitcointalk.org stepped ahead to assert accountability for producing the legitimate hash, saying he rented additional energy for lower than a day utilizing a service known as nicehash.

“Certainly, it’s a nice luck to catch a block with such a hashrate,” the consumer titled Pineconeeee acknowledged on the discussion board. “In lower than a day, luck smiled on me.”

The solo miner, who mentioned they’re from Russia, defined that they sometimes use a computing energy of round 270 TH/s (terahashes per second) however rented 5 PH/s (petahashes per second) price of energy final Thursday, in response to his submit.

The block mined by the solo miner contained 3,220 transactions that consisted of round 16,940 price of Bitcoin quantity.

With a view to add a block to a proof-of-work community like Bitcoin, miners constantly run calculations to find a legitimate hash for the block, utilizing a course of akin to computational brute drive.

Nowadays, a majority of latest blocks which can be added to Bitcoin’s blockchain are mined through mining swimming pools, the place miners pool collectively their computing energy to extend their probabilities of creating a legitimate hash.

Technically, it’s potential for a Bitcoin miner to get fortunate once in a while and produce a legitimate hash on their very own, regardless of the competitors of different computer systems racing to calculate a legitimate hash for the subsequent block on Bitcoin’s community.

Based on BTC.com, the biggest mining pool on the planet is at present Foundry USA, a mining pool that includes round 34% of the entire hashrate on Bitcoin’s community over the previous day. The mining pool’s hashrate is round 107 EH/s (exahashes per second)—round 15,970 instances extra highly effective than the solo miner.