A Solo Bitcoin miner has successfully mined block 883,181, securing a reward of 3.125 Bitcoin, valued at over $300,000.
A Solo Bitcoin miner has successfully mined block 883,181, securing a reward of 3.125 Bitcoin, valued at over $300,000.
The block, which was mined on Feb. 10, contained 3,071 transactions. The miner’s identity remains unknown, but reports indicate that they might have utilized a Bitaxe mining device, a tool capable of facilitating both solo mining and participation in mining pools.
The Bitcoin market is currently experiencing a resurgence, with prices rebounding to over $98,000. This follows a brief dip attributed to U.S. President Donald Trump's announcement of tariffs on aluminum and steel, which has contributed to ongoing trade tensions.
As of the latest data, Bitcoin has risen 1.22% in the last 24 hours, although it has yet to reclaim its previous all-time high of over $109,000 reached on Jan. 20.
The mining landscape is dominated by large firms such as Bit Digital, Riot Blockchain, and Marathon Digital, which command significant hash power. The current Bitcoin hashrate stands at 788.86 million, reflecting a decline of 0.81% from the previous day but a year-over-year increase of over 53%. Higher hashrate levels necessitate more computational power, raising energy costs and extending transaction verification times, which complicates the efforts of solo miners.
According to data from the Blockchain Council, over 19 million of the total 21 million Bitcoin have already been mined. The recent success of the solo miner brings to light the challenges individual miners face in a landscape increasingly dominated by larger entities.
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