Originally published on: September 11, 2024
In a remarkable turn of events, a Bitcoin miner recently accomplished the impressive feat of processing a block single-handedly and reaping a significant reward of approximately $180,000.
Unlocking Block 860749: A Lucrative Achievement
On September 10, Block 860749 hit the jackpot with a total of 5,935 transactions, yielding a generous reward of 3.169 Bitcoin valued at $64,432.97 per BTC, making it a grand total of about $182,505. This impressive feat was achieved by the mining pool Solo CK, as reported by the renowned Bitcoin block explorer, Mempool.space.
The Rarity of Solo Miners and Their Success Stories
While it is a rare occurrence for solo miners to crack through blocks due to the demanding hashrate prerequisites, it is certainly not an unattainable feat. Solo CK may be a mining pool that consolidates the hashrate of multiple smaller miners, but it allocates the reward solely to the individual responsible for unlocking the block.
Amidst the massive blockchain power, the successful miner unleashed an impressive 629 petahashes of hashrate during the block completion phase, equivalent to a mere 0.098% of the robust 644.91 exahashes per second (EH/s) that fortify the blockchain, according to data from Bitcoin transaction tracker YCharts.
The Continuous Surge in Bitcoin Hashrate
The Bitcoin hashrate has been soaring to unprecedented levels, hitting a record-breaking 742 EH/s on September 1, showcasing a remarkable 62% surge from the previous year’s hashrate standing at 395.70 EH/s. This exponential rise in hashrate demands a higher level of computing power, subsequently escalating energy costs, verification procedures, and transaction durations, posing a formidable challenge for solo miners striving to successfully validate a block.
Shaping the Bitcoin Mining Landscape
Out of the staggering 859,000 blocks generated since Bitcoin’s inception in 2009, solo miners have managed to solve a block solo on only 290 occasions. However, dominant players like Bit Digital, Riot Blockchain, and Marathon Digital continue to lead the pack in validating the most blocks owing to their substantial hash power influence.
Solo CK: A Trailblazer in Solo Mining Success
The Solo CK pool has played a pivotal role in unlocking 14 additional blocks in the past year, garnering a total of 59.3 Bitcoin amounting to $3.4 million. On August 30, another miner from the Solo CK pool triumphed by processing yet another block, earning a commendable sum of nearly $200,000.
The Success Stories Continue
Following suit, another solo miner from Solo CK achieved a remarkable milestone by solving block 853,742 on July 25, seizing a lucrative reward of about $210,000 for their efforts.
As the cryptocurrency industry continues to witness awe-inspiring accomplishments in Bitcoin mining, the future holds promising prospects for miners, with the resilience and dedication of individuals propelling the sector’s growth.
Unlock the Door to Bitcoin Success
Embrace the evolving landscape of Bitcoin mining and witness firsthand the boundless opportunities that lie ahead for solo miners and mining pools alike. The journey to unlocking the next lucrative block solo may be just within your reach.
