Solo Bitcoin Miner Surpasses Expectations by Mining Entire Block

Recently, an independent miner achieved a significant victory by independently solving block 907,283 and earning a reward of $373,000 in one go.

This achievement is truly impressive, considering the incredible difficulties the miner had to overcome.

The probability of lightning strike is higher

The probability that one block will be mined in a day (at 1 PH/s) is approximately 1 in 4.26 million.

By comparison, the odds of being struck by lightning in a person's lifetime are about 1 in 15,300.

So, the chance of you being struck by lightning is 278 times higher than the chance of mining Bitcoin on your own on any given day.

Every day, about 900 coins are mined on the network. However, the contribution of one miner to the total bitcoin hashrate is only a small fraction, which is currently equal to about 600 exahash/s.

The odds given mean that on average you would need to mine for over 4 million days to have a chance of winning one block.

Solo mining is a thing of the past

Solo mining was the only method of mining Bitcoin in its early days, as the first mining pools had not yet been created. Early Bitcoin users could mine coins on regular desktop computers.

However, the network has expanded significantly since then. By 2013, solo mining had become extremely rare.

Currently, solo mining is only suitable for enthusiasts, as they will most likely not earn anything while still incurring electricity and maintenance costs.

Over 99% of all blocks are mined by pools. Anomalous blocks mined by independent miners are very rare.

As reported by U.Today , in February, an entire block of Bitcoin was mined by a single person.

Source: cryptonews.net