A Bitcoin solo miner earned $182,505 for solving Block 860749, despite using only 0.098% of the total network hashrate.
The Bitcoin network hashrate hit an all-time high of 742 EH/s on Sept. 1, a 62% increase from the previous year's 395.70 EH/s.
Solo CK miners have solved 14 blocks in the past year, earning 59.3 Bitcoin, worth approximately $3.4 million.
A solo Bitcoin miner recently earned around $180,000 after successfully validating a block on September 10. The miner, who was part of the Solo CK pool, processed Block 860749 containing 5,935 transactions. For their efforts, they received 3.169 Bitcoin, valued at approximately $182,505, according to Mempool.space.
https://twitter.com/BitcoinMagazine/status/1833470327742972096 Small Miner Hits Big Payday
Solo CK, despite being a pool, allows solo miners to win the entire reward if they solve a block. This miner used 629 petahashes of computing power, which accounted for only 0.098% of Bitcoin's total hashrate at the time. The overall hashrate of the Bitcoin network reached 644.91 exahashes per second (EH/s).
Bitcoin Hashrate Hits Record High
The Bitcoin network hit a record high hashrate of 742 EH/s on September 1st. There was a 62% rise compared to last year when it was 395.70 EH/s. Solo miners face greater competition when they need to invest in more computing power to achieve a higher hashrate, resulting in increased energy costs.
Challenges for Solo Miners
Solo miners face steep odds in solving blocks independently, and their success is rare. Out of the 859,000 blocks mined since Bitcoin’s launch in 2009, solo miners have solved only 290. Typically, large firms like Bit Digital and Riot Blockchain dominate the network with massive hash power.
Solo CK’s Impressive Record
Despite the dominance of large mining companies, Solo CK has achieved notable success. Solo CK pool miners solved 14 blocks in the past year, collectively earning 59.3 Bitcoin, which is now worth $3.4 million. Solo CK continues to prove that under the right conditions, small miners can still claim big rewards.
While solo mining is becoming more challenging, this miner’s success highlights that smaller players can still achieve big payouts. With the right conditions, solo mining remains a rewarding, though rare, opportunity in the ever-growing Bitcoin network.
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