Ding Ding Ding – There’s a winner!
Solo Miner bagged a reward of 3.173 BTC ($349,028) by mining Bitcoin block number 903,883 Late Thursday night. There aren’t many winners like this. In fact, one expert says that on average, this small loser only wins every eight years.
The lucky winner on Thursday night was identified as being used CK onlyA non-profit service that allows Bitcoin Miners to try to minify solo blocks. By using Solo CK, the miners paid 2%, but avoided the overhead required to perform a high-end Bitcoin mining rig.
“Congratulations to the 2.3ph minor BC1Q-9SJ3 to solve block number 301,” said Pseudonym Dr. CK, software engineer and administrator of Solo CK. I wrote it on x. “Mineers of this size are likely to be one-two-third of the chances of unlocking blocks every day or on average once every eight years.”
To put this in perspective, 2.3ph, short for Petahash, acts as a slither for Bitcoin total. Estimated hashrate of 881.11 EH/sshort for Exahash. This is exactly just 0.00026% of the hashrate. Compared to the hashrate of Foundry USA, the mine pool that previously treated blocks, the Solo Miner still pales in comparison to just 0.000847% of Foundry’s 271.7 EH/S hashrate.
Bitcoin Miner They spend their computing power to solve complex mathematical equations and find what is called “nonse.” This short for “number used once.” With that number, the block meets the difficulty requirements of Bitcoin. This is constantly tweaked and allows you to add blocks to the blockchain.
Miners are rewarded with newly created Bitcoin and the transaction fees contained in the block. Bitcoin mining is the foundation of Proof of work Consensus mechanism.
But it’s not like it was in the past. When enthusiasts were able to mine Bitcoin for household use, Bitcoin mining is now industrialized, with companies competing for mining rewards using warehouses filled with ASIC machines.
Mining solos and competing with large companies for blocks is quite difficult, and the chances of actually getting rewards are very low. Most solo miners who go on this route join a mining pool that combines the power of the participants and divides rewards between them. Scott Norris, CEO of Independent Bitcoin Miner Optimer; I said Decryption That solo mining is “like playing the lottery,” despite the lucky winner.
For comparison, Foundry USA, a US-based mining pool, is 304,576 BTC ($32.8 billion) Throughout history. Since 2014Solo CK user mined 5,222 BTCwhich is $594.9 million at today’s price. Most of them were one-off winners rather than the same solo minor win multiple times.
The previous miner who successfully mined the block using a solo CK was four weeks ago. 3.15 BTC Reward, or about $330,300. Before that, we have to go back 3 months All solo corner kicks win.
Solomining has been set to be more difficult as Bitcoin hashrates has steadily increased since it first launched. For example, the hash rate has increased by 46% over the past year. 599.41 eh/s to 881 eh/s.