Despite the increasing hashrate of the Bitcoin network, individual miners continue to achieve successes by obtaining full block rewards. These achievements illustrate that decentralization remains possible.
Solo Miners' Victories
Solo miners continue to win Bitcoin block rewards despite the high network hashrate currently at around 902 EH/s. Recently, a miner earned a reward of 3.125 BTC, equivalent to over $372,000. Other similar victories have been recorded earlier this year, confirming the possibility of success in a highly competitive environment.
Importance of Individual Wins
The victories of solo miners are significant as they confirm the potential for decentralization in the Bitcoin network. Over 95% of the network's hashrate is concentrated in mining pools, and achieving reasonable chances of successfully mining a block requires a very high amount of hash power. Nevertheless, individual victories demonstrate that with the right hardware and strategy, success can be achieved.
Future of the Mining Industry
The Bitcoin mining industry is undergoing significant changes, shifting from hobby-level operations to industrial-scale mining. Despite the challenges, individual miners using clean energy could contribute to creating a more decentralized Bitcoin network. This aligns with the original vision of permissionless participation.
The successes of solo miners highlight that Bitcoin mining is still accessible to determined participants. Achievements by individual miners, even on a small scale, serve as evidence that the high level of hashrate is not an insurmountable barrier.
