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Solo Bitcoin Miner Processes Block and Wins $200K with 0.012% Hashrate

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by Giorgi Kostiuk

2 years ago

  1. Event Details
  2. Hashrate Statistics
  3. Rarity of Success


    4. A solo Bitcoin miner has successfully processed a block, earning nearly $200,000 despite having a very small share of the overall network's power.

    Event Details

    The miner processed block number 858,978 at 4:21 pm UTC. The block contained 2,391 transactions, and the miner received 3.27 BTC, worth $199,094 at the time of writing.

    Hashrate Statistics

    The mining was done through Solo CK Pool, which utilized 456 PH/s of hashrate. The average Bitcoin network hashrate is currently 665 EH/s, making the miner’s contribution about 0.012% of the total power. The network’s hashrate reached an all-time high of 754 EH/s on July 23, according to BitInfoCharts.

    Rarity of Success

    Due to the dominance of large mining firms like Riot Blockchain and Marathon Digital, solo miners’ successes are much rarer. Throughout Bitcoin's history, approximately 290 out of 859,000 blocks have been successfully processed by solo miners. Similar cases were reported in March and July 2023.

    Solo miners continue to demonstrate that significant achievements in Bitcoin mining are possible even with minimal power, despite the dominance of large mining companies.

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