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

by Giorgi Kostiuk

2 years ago

Made with AI

Successful Block Mining
Expert Commentary
Mining Landscape Overview

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.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Tier I

Requires 25% Tier Progress to Claim

Meme Cache

Tier I

Requires 50% Tier Progress to Claim

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Tier I

Sector: #18291

25%

50%

75%

100%

Tier II

Survivors rescued:

0 / 600

Survivors

0/0

Transmit Signal

Broadcast this sector's coordinates to other rescuers.

Other news

Mercado Bitcoin and Sui Integrate SUI and Stablecoins for Enhanced Financial Services

Mercado Bitcoin and Sui have announced a significant integration that will allow users to access SUI, USDC, and USDsui, facilitating purchases, sales, and transfers.

Miguel Rodrigueza minute ago

Polymarket Reports on October 29 Security Incident

Polymarket reports on a security breach that occurred on October 29, 2023, involving a compromised monitoring script, leading to $39 million in refunds.

Luis Flores2 hours ago

KuCoin Stops Services for Russian and Belarusian Users

KuCoin has announced the discontinuation of all services for users in Russia and Belarus, effective immediately as of October 29, due to legal and regulatory requirements.