Bitcoin

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Another solo Bitcoin miner has just hit the Bitcoin mining jackpot, successfully processing a Bitcoin block against all odds and netting themselves a payday of just under $200,000.
The miner processed block number 858,978 at 4:21 pm UTC, <a data-ct-non-breakable="null" href="https://mempool.space/block/000000000000000000016ccd32328638865256249e592246bfae8af4031dda01" rel="nofollow noopener" target="_blank" text="null">according</a> to data from the Bitcoin block explorer Mempool.space.&nbsp;The block contained 2,391 transactions, and the miner received 3.27 Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="" target="_self" text="null">BTC</a>) for their efforts, worth $199,094 at current prices.
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 <img alt="Solo miner wins $200K Bitcoin lottery with just 0.012% of hashrate" name="" src="https://s3.cointelegraph.com/uploads/2024-08/0191a16e-e7f8-7ab1-9dcf-550448fe7fdc">
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 The solo miner netted 9,000 for their efforts. Source: Mempool.space&nbsp;
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Notably, the miner responsible for processing the block was the Solo CK Pool, a solo mining pool that doesn’t act like a typical one.
According to Mempool.space data, the Solo CK miner utilized 456 petahashes worth of hashrate when the block was solved.&nbsp;
The average network hashrate is currently 665 exahashes per second (EH/s), meaning the miner that processed the transaction was running at around 0.012% of the average hashrate.
Bitcoin’s hashrate hit an all-time high of 754 EH/s on July 23, <a data-ct-non-breakable="null" href="https://bitinfocharts.com/comparison/bitcoin-hashrate.html#3y" rel="null" target="null" text="null">according</a> to BitInfoCharts.
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 <img alt="Solo miner wins $200K Bitcoin lottery with just 0.012% of hashrate" name="" src="https://s3.cointelegraph.com/uploads/2024-08/0191a16e-96f7-7758-acc0-bf4ff114844f">
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 Bitcoin hashrate since October 2021. Source: BitInfoCharts
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Despite its name, the SoloCK “pool” combines the hashrate of small miners but only distributes the reward to the miner responsible for solving the block.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/solo-bitcoin-miner-solves-valid-block-post-halving" rel="null" target="null" text="null">Solo Bitcoin miner wins the 3.125 BTC lottery, solving valid block</a>
The miner solved 14 Bitcoin blocks in the last year, receiving 59.3 Bitcoin, which is worth $3.5 million at current prices.&nbsp;
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 <img alt="Solo miner wins $200K Bitcoin lottery with just 0.012% of hashrate" name="" src="https://s3.cointelegraph.com/uploads/2024-08/0191a16d-6f28-787a-8abb-ba2cf4c23287">
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 The SoloCK “pool” has earned .5 million in the last year. Source: Mempool.space
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Due to the prominence of large mining firms such as Riot Blockchain and Marathon Digital, which command massive amounts of hash power, it’s rare for solo miners to successfully validate a block.&nbsp;
A solo miner successfully processing a block is so rare that it has only occurred roughly 290 times out of the 859,000 blocks produced since Bitcoin’s inception 14 years ago.
In March 2023, Cointelegraph reported that a solo miner <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/solo-bitcoin-miner-defies-odds-to-mine-valid-btc-block-gets-150k-block-reward" rel="null" target="null" text="null">netted the entire 6.25 BTC reward</a> for solving a block. However, the price of Bitcoin was much lower, and the reward was worth around $150,000 at the time.
The most recent solo-mined block was on July 25, when a solo miner&nbsp;<a data-ct-non-breakable="null" href="https://mempool.space/block/00000000000000000000f0235e50becc0b3bc91231e236f67736d64b1813704b" rel="null" target="null" text="null">solved</a>&nbsp;block 853,742, netting a reward of around $210,000.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoiners-all-in-trump-since-bitcoin-2024-getting-risky/" rel="null" target="null" text="null">Bitcoiners are ‘all in’ on Trump since Bitcoin ’24, but it’s getting risky</a>

Solo miner wins $200K Bitcoin lottery with just 0.012% of hashrate

Cointelegraph

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