In a remarkable stroke of luck, a solo Bitcoin miner has struck gold by processing a block and earning nearly $200,000, despite contributing a mere 0.012% of the network’s total hashrate. The miner, part of the Solo CK pool, achieved this feat by solving block 858,978 at 4:21 pm UTC.
Key Details
- Block Details: Block 858,978 contained 2,391 transactions. The miner was rewarded with 3.27 BTC, worth approximately $199,094 at current prices.
- Hashrate Comparison: The Solo CK miner operated with a hashrate of 456 petahashes per second, while the Bitcoin network’s average hashrate is around 665 exahashes per second (EH/s). This means the miner’s contribution was just 0.012% of the network’s total power.
- Historical Context: Bitcoin’s hashrate recently peaked at an all-time high of 754 EH/s on July 23, according to BitInfoCharts. Despite the high competition, the Solo CK pool managed to solve the block with its relatively small share of hash power.
- Solo CK Pool: Unlike typical mining pools, Solo CK combines the hashrate of smaller miners but rewards only the individual who successfully solves a block. Over the past year, the pool has solved 14 Bitcoin blocks, resulting in a total reward of 59.3 BTC, valued at approximately $3.5 million.
Rarity and Impact
Solo mining success is a rare occurrence in the world of Bitcoin. Out of nearly 859,000 blocks mined since Bitcoin’s inception, solo miners have only validated roughly 290 blocks. The last reported instance of a solo miner solving a block was on July 25, with a reward valued at around $210,000.
In March 2023, a solo miner also secured the full 6.25 BTC reward for solving a block, but the Bitcoin price at the time made the reward worth around $150,000.
This recent success underscores the unpredictable nature of Bitcoin mining and highlights the significant rewards that can still be achieved, even with relatively small hashrate contributions.
