An independent #bitcoin miner has just made a significant breakthrough, mining block 803,821 and earning a whopping 6.25 $BTC in reward! 🥇
Who said solo mining was dead? 🤔
Here's what happened:
The miner, tagged bc1q2za4ejga366sn288273pty8rasn5zs4y9hqg6, pulled off this feat using the Solo CKpool mining service. This makes them the 277th solo miner in Bitcoin's history to solve a block - an event that typically happens only once every seven years!
The Solo CKpool is a platform for miners with "old/inefficient miners that will never earn any rewards through regular mining that wish to leave it mining as a lottery".
This is the third time this year that a solo miner using the Solo CKpool has processed a block.
What's really impressive is that this miner was likely using an S17 Bitcoin Miner with a hash power of only 1 PetaHash.
To put that in perspective, most BTC miners operate in exahashes, making this feat even more remarkable!
Meanwhile, BTC's mining hash rate has seen an increase over the past week despite the asset's price struggles.
Data shows that Bitcoin's hashrate rose to a new high of 414 EH/s on August 18 before dropping to its current level of 410.0 EH/s.
However, this increase in hashrate isn't all good news.
This could hit profitability next week when the mining difficulty changes, especially for miners in Texas facing rising energy prices.
It's expected to lead to a 7% rise in mining difficulty, according to Bitrawr.
The takeaway?
Solo mining isn't dead, and with the right tools and a bit of luck, smaller operations can still hit the jackpot.
But with increasing difficulty levels and cost challenges, the landscape for miners is getting more complex.
Stay tuned for more updates and let's keep supporting the solo miners out there!
After all, they're the ones keeping the spirit of decentralisation alive.
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