Another solo Bitcoin miner hits jackpot with $371,000 block reward

2 days ago

ASICKey enforcement Samuel Li said that solo Bitcoin miners person a 1 successful 650,000 accidental of solving a artifact each 10 minutes with 1 petahash of hashpower.

Another solo Bitcoin miner hits jackpot with $371,000 artifact reward

A solo miner successfully mined a Bitcoin artifact connected Sunday, collecting a 3.137 BTC payout, worthy astir $371,000 astatine the time.

The miner operated done the Solo CK pool, a service for solo miners. The miner mined artifact 910,440 and collected the modular 3.125 BTC and astir 0.012 BTC successful transaction fees. The artifact included 4,913 transactions, and the fees totalled $1,455.

With Bitcoin’s hashrate being dominated by monolithic industrial-scale mining operations, the chances of a solo miner hitting a artifact are highly slim. Yet, with businesslike hardware, adjacent smaller players tin assertion the aforesaid artifact rewards successful uncommon instances.

This year, respective solo miners with smaller setups claimed artifact rewards connected their own. One successfully mined a artifact successful February, portion another netted $350,000 connected July 4. On July 27, different solo miner was capable to people a artifact alone, bagging $373,000 successful rewards.

Solo Bitcoin mining is inactive mostly a “lottery”

Samuel Li, the main exertion serviceman of mining instrumentality institution ASICKey, antecedently told Cointelegraph that solo Bitcoin miners are winning not due to the fact that of luck but due to the fact that of “powerful, businesslike hardware.”

Li said modern mining instrumentality is built to present superior hashrates without the powerfulness gully of accepted miners. However, this doesn’t mean the likelihood of solo miners winning person changed.

“Solo mining is inactive mostly a lottery, unless you power tens of PH/s, which is realistically the bare minimum for having a measurable statistical changeable astatine occurrence wrong a tenable clip frame,” Li told Cointelegraph.

Li said that a miner with 1 petahash (PH/s) of hashpower has a 1 successful 650,000 accidental of solving a artifact each 10 minutes.

Rising web trouble squeezes nonrecreational mining companies

Even established Bitcoin mining companies person felt the rising web trouble and hashrate, on with a reduced artifact subsidy owed to Bitcoin halving.

CryptoQuant information shows that astatine the clip of writing, the trouble of the Bitcoin web was astatine 129 trillion and was floating adjacent all-time highs. The information besides showed that web trouble has lone trended upward implicit time.

Large mining companies person diversified into artificial intelligence and high-performance computing (HPC) to marque up for the accrued contention and shortfalls successful the mining business.