Jackpot! By successfully mining a block of the Bitcoin blockchain, a solo miner managed to obtain the valuable reward of 3,275 BTC. At the current Bitcoin price, this is equivalent to approximately $195,000.
Bitcoin Miner Achieves Single-Handed Mining of Block
3,275 Bitcoins: that's the tidy reward obtained by a lucky miner who didn't even need to get a scratch card or play the lottery to get them. It was “enough” for him to mine a block on the blockchain associated with the most famous cryptocurrency to obtain this gain.
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Concretely, he won the reward of 3.125 BTC, then transaction fees of 0.15 BTC were added, bringing the total gain to the famous 3.275 BTC.
It was this Thursday that everything happened. By successfully mining block 858,978, the solo miner gleaned this reward of more than 3 BTC, which is equivalent to $195,000 at the current Bitcoin price. The block contained exactly 2,391 transactions.
Con Kolivas, the administrator of ckpool, the mining pool where the block was mined, wanted to congratulate the Bitcoin miner on X. Unlike usual pools, ckpool has the particularity of paying out rewards in BTC directly to its miners.
Congratulations to miner 36AisvWi1UiwLTeTZxLzindAkorqeUc3tT for solving the 291st solo block on https://t.co/UWgBvLkDqc! This hefty miner with 38PH would solve a block on average once every ~4 months. https://t.co/Qw2lamcVKd pic.twitter.com/n5mehMJ9tN
— Dr -ck (@ckpooldev) August 29, 2024
The feat is all the more admirable given that this Bitcoin miner only participates in the network with a hashrate of 456 peta hashes per second. The current hashrate of the network is around 665 exa hashes per second, the individual then represented only 0.012% of the global average hashrate.
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Despite the 4th halving, the rewards obtained for mining blocks are still very interesting
Undeniably, the feat is remarkable. It can undoubtedly be said that the miner was very lucky, although he tried to force fate.Indeed, competition in the cryptocurrency mining sector, and more particularly Bitcoin, tends to increase.
Currently, several companies specializing in BTC mining, such as Riot Blockchain and Marathon Digital, are deploying colossal computing power in the hope of mining the blocks of the Bitcoin blockchain, and thus grabbing gigantic shares of the latter's hashrate.
So, getting a reward for mining a block as a solo miner remains a rare phenomenon. According to statistics, Of the more than 850,000 blocks on the Bitcoin blockchain, only 290 of them were added by a solo miner.
Furthermore, on the occasion of the 4th halving which took place on April 20, The BTC reward awarded when mining each block has been halved.
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So instead of getting a maximum of 6.25 BTC for adding a block to the Bitcoin blockchain as was the case previously, Miners can now expect to rake in 3,125 BTC, plus transaction fees.
Despite this halving, the gains remain substantial, especially if the price of BTC were to explode in the coming years.
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Source: Mempool
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Surprised by the rise of crypto-assets in the late 2010s, I started to closely follow this sector that fascinates me to the highest degree. When I am not in football stadiums, rugby or handball halls, I work on writing relevant articles about cryptocurrencies and more broadly, Web3.
Zacharie Tazrout
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