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Solo Bitcoin miner defies odds to mine valid BTC block, gets $150K block reward

A solo Bitcoin miner has managed to mine the 780,112th block within the Bitcoin blockchain, receiving a 6.25 Bitcoin (BTC) block reward in return. The estimated worth of the payout is over $150,000.

The solo miner was additionally fortunate to have produced a sound hash after simply two days of mining, because the occasion itself is uncommon, and it might take months for a solo miner to provide a sound hash.

The uncommon occasion occurred on March 10 and was the 270th solo mined block in Bitcoin’s 13-year-long historical past. The occasion is uncommon as a result of a solo miner of this measurement normally solves a block, on common, about as soon as each 10 months.

The miner created a solo mining pool utilizing the Solo CK Pool mining service, for which they produced a sound block hash and had been rewarded with 6.25 BTC, with a charge reward of roughly 0.63 BTC.

Con Kolivas, the Solo CK mining pool admin, famous that the miner behind the uncommon occasion might need briefly rented hashing energy to provide the output hash.

Solo Bitcoin miner’s output hash. Source: BTC explorer

Bitcoin mining requires miners to enter computational energy to unravel and add the subsequent Bitcoin block to the community. Nonetheless, with the rising recognition of BTC mining and the fixed rise within the community hash charge and highly effective mining machines, it’s close to unattainable for a solo miner to unravel the entire block on their very own.

The best way to mine Bitcoin: A freshmen information to mine BTC

Thus, a sound block hash is usually produced utilizing the computational energy of a number of mining rigs, all attempting to mine the subsequent block. The block reward is distributed based on the enter hash charge of every miner within the mining pool.

The Solo CK mining pool has been behind a number of solo-mined Bitcoin blocks up to now as effectively. Two of those solo-mined blocks got here in January 2022, solely two weeks aside, with the primary occurring on Jan. 11, 2022,at a block peak of 718,124, adopted by one other on Jan. 24, at a block peak of 720,175.


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