A single Bitcoin miner has defied the percentages by fixing a Bitcoin block alone, netting them the complete 3.125 Bitcoin (BTC) block reward.
On April 29, software program engineer and administrator from the solo mining pool ckpool, Con Kolivas, posted to X {that a} miner had solved the 282nd solo block in Bitcoin’s historical past.
He added that the solo miner had a big hash price of round 120PH (peta hashes) on the time, equal to round 0.12 EH (exa hashes), with a mean of round 12PH over per week which is roughly 0.02% of the full community hash price.
The reward for fixing block 841,286 was lately decreased from 6.25 BTC to three.125 BTC within the Bitcoin halving at block 840,000 on April 20, that means it was value round $200,000 at BTC costs on the time.
Kolivas examined the block-solve abstract, postulating that this massive miner both lately switched from pooled mining post-halving “presumably for not recouping their electrical energy prices” for an opportunity at a solo block. Both that or they’ve been “intermittently hashing/renting massive quantities solo,” he added.
The feat is outstanding as a result of mining a legitimate block solo is an especially uncommon occasion akin to successful the lottery. It’s so uncommon that it has solely occurred 282 occasions out of the 841,300 or so blocks which were produced since Bitcoin’s inception 14 years in the past.
Mining BTC requires individuals to enter computational energy to unravel and add the subsequent block to the community.
Nonetheless, with the asset’s value growing, mining has exploded in recognition leading to a rise in competitiveness — generally known as problem — and hash price, or community horsepower, that means that it’s virtually inconceivable to unravel a block alone.
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In March 2023, Cointelegraph reported {that a} solo miner netted the complete 6.25 BTC reward for fixing a block, nonetheless, costs had been a lot decrease then so the reward was round $150,000.
The latest solo block was on April 5, a few weeks earlier than the halving, when a solo miner solved block 837,814 with 7PH of hash price netting a reward of round $422,750 on the time.
The common community hash price is at present 618 EH/s (exa hashes per second) having hit an all-time excessive of 728 EH/s on April 23, in accordance with Bitinfocharts. It has elevated by greater than 90% over the previous 12 months making the most recent solo mining achievement much more distinctive.
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