Solo Bitcoin miner defies odds to mine legitimate BTC block, will get $150K block reward

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A solo Bitcoin miner has managed to resolve/mine the 780,112th block within the Bitcoin blockchain and obtained a 6.5 Bitcoin (BTC) block reward in return. The estimated worth of the payout is over $150,000.

The solo miner was additionally fortunate to have produced a legitimate hash simply after two days of the mining, because the occasion itself is uncommon and may take months for a solo miner to provide a legitimate hash.

The uncommon occasion occurred on March 10 and was solely the 270th solo mined block in Bitcoin’s 13-year-long historical past. The occasion’s rarity may very well be understood from the truth that a solo miner of this dimension will normally resolve a block on common about as soon as each 10 months.

The miner created a solo mining pool utilizing the Solo CK Pool mining service, for which they produced a legitimate block hash and had been rewarded with 6.25 BTC and a price reward of roughly 0.63 BTC.

Dr Con Kolivas, the admin of the Solo CK mining pool with a Twitter username @ckpooldev famous that the miner behind the uncommon occasion may need quickly rented hashpower to provide output hash.

Solo Bitcoin miner’s output hash.  Supply: BTC explorer

Bitcoin mining requires miners to enter computational energy to resolve and add the following Bitcoin block to the community. Nevertheless, with the rising recognition of BTC mining and the fixed rise within the community hashrate and highly effective mining machines, it is close to unimaginable for a solo miner to resolve the entire block on their very own.

Associated: Tips on how to mine Bitcoin: A freshmen information to mine BTC

Thus, a legitimate block hash is commonly produced utilizing the computational energy of a number of mining rigs, all attempting to mine the following block. The block reward is distributed in response to the enter hashrate of every miner of mining swimming pools.

The Solo CK mining pool has been behind a number of solo-mined Bitcoin blocks prior to now as properly. Two of those solo-mined blocks got here in January 2022, solely two weeks aside with the primary occurring on Jan. 11, 2022, at a block top of 718,124 adopted by one other uncommon prevalence on Jan 24, at a block top of 720,175.