“Accidental Bitcoin Creation Leads to €165,000 Windfall”
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A Solo Bitcoin Miner Achieves Remarkable Milestone
A lone private miner has successfully carried out all the necessary calculations to create a block on the Bitcoin blockchain independently.
This incredible achievement earned him a reward of 3,169 BTC, which, following the latest halving, is valued at approximately $182,505 (around €165,000).
Interestingly, solitary Bitcoin miners are increasingly finding success.
Fortune Strikes for a Bitcoin Miner
Profiting from Bitcoin mining is not a simple task.
Large mining farms boast immense computational power, meaning that the competition is often too intense for individual miners.
As a result, the chances of success remain quite slim.
Since its inception 14 years ago, it has occurred only 290 times (out of 859,000 mined blocks) that an individual miner created a Bitcoin.
On September 10, it happened again when an individual successfully solved block number 860749.
He is a member of Solo CKpool, a collective that aggregates the hash rate of smaller miners.
In contrast to traditional pools, rewards from Solo CK are awarded exclusively to the miner who actually resolves the block.
In this case, the pool operated by the lucky miner produced a computational power of 629 petahash, which, although high, represents only 0.098% of the total computing power on the Bitcoin blockchain.
According to YCharts, the overall hash rate of the Bitcoin network at that time was 644.91 exahashes per second (EH/s), with one exahash equating to one thousand petahashes.
The Rise of Solo Miners
It is not uncommon for individual miners to discover a block; it is merely a low-probability event that has been happening more frequently lately.
This increase is attributed to a surge in the production of small ASICs (Application-Specific Integrated Circuits) designed specifically for those wishing to mine from home.
Statistics illustrate that “solo mining” is becoming increasingly fruitful.
The Solo CKpool has resolved a total of 14 blocks over the past year, yielding a total reward of 59.3 Bitcoin, equivalent to about $3.4 million (€3 million).
Furthermore, on August 21 of this year, an individual Dutch Bitcoin miner, recognized in the industry as Bitcon-Doom, earned a reward of $200,000.
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