Bitcoin jackpot: Solo miner wins $371,000
- A solo miner successfully mined a Bitcoin block on Sunday and received a payout of 3,137 BTC, currently equivalent to about $371,000
- The miner worked via the Solo CK pool. He mined block 910,440 and collected the usual 3.125 BTC plus approximately 0.012 BTC in transaction fees. The block contained 4,913 transactions.
- Because the Bitcoin hashrate is dominated by massive industrial mining operations, the chances of a single miner mining a block are very slim. However, just about three weeks ago, another solo BTC miner hit the jackpot.
- Samuel Li, Chief Technology Officer of mining hardware manufacturer ASICKey, explains that solo Bitcoin miners are successful not just because of luck, but because of “powerful, efficient hardware.”
- Li emphasizes that modern mining equipment is built to deliver serious hash rates, but without the power consumption of traditional miners. However, this doesn't mean that the profit opportunities for solo miners have changed.
- “Solo mining is still largely a lottery unless you control ten PH/s (petahashes), which is realistically the bare minimum to have a measurable statistical chance of success within a reasonable timeframe,” Li said.
- A Bitcoin miner with a PH/s currently has a 1 in 650,000 chance of solving a block every 10 minutes.
- In the Bitcoin network, more computing power increases the probability of finding a BTC block and thus collecting the block reward. You can find more information about mining in our BTC Academy.
- Read here how you can get started with solo mining and have the chance to win more than 3,125 BTC: How the Bitcoin “lottery” works.
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source
- Block 910440 | Mempool
- Li quotes | Cointelegraph