Solo Bitcoin Miner Snags $200,000 Block Reward, How Did They Do It?

A solo Bitcoin miner has struck gold after efficiently claiming a $200,000 block reward. The appreciable achievement has captured the eye of fellow miners and crypto fanatics, highlighting the potential for lone miners to successfully compete with bigger mining operations 

Lone Bitcoin Miner Hits Jackpot

On October 28, a software program engineer of Bitcoin CGMiner and an admin of Solo Ckpool, Dr. Con Kolivas congratulated a lone Bitcoin miner in an X (previously Twitter) submit for engaging in a uncommon milestone by fixing the 278th solo block at Solo Ckpool. 

The fortunate miner used 11 PH/s of hash energy to find block 814,308 and claimed a $200,000 (6.25 BTC) block reward.

“Congratulations to miner 3KCykmdpBpNKTtZJAvp3u2N2EQjGzbUF7c with ~11PH for fixing the 278th solo block on solo.ckpool,” Dr. Kolivas said. 

Presently, large-scale mining operations and swimming pools are dominating the Bitcoin mining trade. When blocks are found, these mining firms typically share the rewards. In distinction, mining swimming pools like Solo Ckpool provide lone miners the next stage of independence permitting them to earn virtually all rewards once they uncover a block. 

This current solo mining achievement has not been the one accomplishment this 12 months. In August, a solo Bitcoin miner solved block 803,821, claiming 6.25 BTC value $160,000. A number of solo miners have additionally found substantial blocks and reaped vital rewards in the previous couple of months. 

The lure of solo mining swimming pools is rising as many miners wish to improve their possibilities of incomes giant rewards whereas reclaiming a way of independence within the aggressive Bitcoin mining market. 

BTC Mining Hashrate On The Rise

Bitcoin Hashrate has continued to extend following the current surge in the value of BTC. Earlier on October 12, the hash fee noticed an alarming improve to 456 exahash per second (EH/s). Following this improve, the hash rate stabilized barely dropping right down to 443 EH/s someday on October 28. 

Regardless of the elevated stage of mining difficulties, hash charges are rising. Bitcoin hash rate is barely again up immediately to 452.63 EH/s with an estimated problem adjustment of 12.78% and community problem of 62.46T. The common block time for mining can be roughly 8 minutes and 52 seconds. 

Prior to now month, mining hash prices fell to vital lows, depicting the opportunity of chain validators experiencing increased mining difficulties and strain. Now, hash charges are on the rise and Bitcoin miners are making the most of these alternatives to extend their earnings.

BTC value resumes rally | Supply: BTCUSD on Tradingview.com

Featured picture from Shutterstock, chart from Tradingview.com