Solo Bitcoin Miner Strikes Gold with $181K Block Reward
A solo Bitcoin miner hit the jackpot by mining an entire block, securing a massive $181,000 reward, beating powerful mining pools.
Key points:
- Lucky solo miner: Successfully mined block 860749, earning 3.125 $BTC.
- High hashrate environment: Larger mining pools like FoundryUSA dominate more than 50% of the hashrate.
- Small miners’ resurgence: New mining rigs offer higher power to individual miners.
- Rare solo wins: Compared to a lottery win due to network difficulty.
- Hashrate records: Bitcoin’s network hashrate is at an all-time high.
Solo Bitcoin Miner Wins Against the Odds:
In a rare and celebrated event, a solo $BTC miner mined an entire block on the Bitcoin network. As a result, they earned $181,000 on September 10, 2024.
The miner successfully mined block number 860749, securing the 3.125 $BTC reward, which is the standard figure after the recent halving. Additionally, they collected transaction fees.
Typically, Bitcoin mining is dominated by large mining pools like FoundryUSA and Antpool.
Together, these pools control over 50% of the network’s computing power. Therefore, a solo miner winning a block is an incredibly low probability event, almost like winning the lottery.
However, new equipment is making solo mining more accessible.
Read more: Blockstream Launches New Bitcoin Mining Token Series
These rigs offer significant power at a lower cost, allowing individual miners to compete. Still, they face tough competition due to the network’s massive hash power, which has recently reached an all-time high.
Although solo mining victories remain rare, this success highlights the possibility for smaller miners to thrive.
Even with the dominance of institutional players, individual miners occasionally have a chance to strike it big.
