Bitcoin Solo Miner Turns $75 into $200K Block Reward via Rented Hash
A solo
$BTC miner validated an entire Bitcoin block on Tuesday using rented computing power that cost approximately $75, earning a block reward of 3.125
$BTC worth around $200,000 at current prices. The miner successfully mined block 938092 at approximately 8:04 a.m. UTC, according to #blockchain data from Mempool(dot)space.
The #miner rented 1 petahash per second of computing power through Braiins, a Bitcoin mining firm that operates an on-demand hash rate marketplace, paying around 119,000 satoshis for the session, along with a small #solo-mining fee. On-demand hash rate allows participants to rent computing capacity to mine without owning or operating physical #hardware.
The miner used CKPool, a service that lets individual miners work independently while using a pool server to broadcast work and submit solutions. At the current
$BTC network hash rate, a 1 PH/s operation would statistically find a block approximately once every 1.1 million blocks, a span equivalent to roughly 21 years of continuous mining, according to estimates from SoloChance(dot)com.
Solo #Bitcoin mining wins of this kind are uncommon. Over the past year, 21 solo miners have each validated a full block, collectively earning 66
$BTC worth approximately $4.1 million at current prices, a 17% increase in solo blocks found compared to the prior year, according to data aggregator Bennet. Solo blocks are mined at an average interval of 17.2 days.
Recent solo wins have produced substantial payouts relative to the resources involved. In January, two separate solo miners each earned rewards worth approximately $300,000 at the time. In December, another solo miner secured a reward equivalent to more than $282,000 based on
$BTC's price at the time.
The broader network context makes solo wins increasingly unlikely over time.
