Solo Miner Earns $181,000 for Mined Bitcoin Block: A Rare Event

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by Giorgi Kostiuk

2 years ago

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  1. Successful Block Mining
  2. Expert Commentary
  3. Mining Landscape Overview


    4. A solo miner mined Bitcoin block number 860749 and earned a reward of $181,000. This event became a topic of discussion in the crypto community and was commented on by experts.

    Successful Block Mining

    According to Coindesk, a solo miner successfully mined Bitcoin block number 860749 and earned a reward of $181,000. The block mining brought the miner 3.125 Bitcoins.

    Expert Commentary

    CryptoQuant research director Julio Moreno commented on the event: "It's not uncommon for a single miner to find a block, it's just a low probability event. This is happening a bit more frequently due to the increase in the production of small ASICs (mining equipment), especially for people who want to mine on their own from their own homes. However, the mining pool space is still quite concentrated compared to solo miners. Two pools, FoundryUSA and Antpool, account for 53% of the total Bitcoin network hash rate."

    It's not uncommon for a single miner to find a block, it's just a low probability event. This is happening a bit more frequently due to the increase in the production of small ASICs (mining equipment), especially for people who want to mine on their own from their own homes. However, the mining pool space is still quite concentrated compared to solo miners. Two pools, FoundryUSA and Antpool, account for 53% of the total Bitcoin network hash rate.Julio Moreno, CryptoQuant research director

    Mining Landscape Overview

    Bitcoin blocks are produced approximately every 10 minutes and are typically mined by mining pools that have the highest chance of winning the block reward. The reward for successfully mining a block is currently 3.125 Bitcoins after a halving event earlier this year. While competition exists in the market, mining remains most efficient within large pools.

    Events where a solo miner earns a significant reward for mining a block, though rare, are becoming more frequent thanks to new technologies and an increasing number of home miners. However, major mining pools continue to dominate the Bitcoin mining market.

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