• A Bitcoin solo miner earned $182,505 for solving Block 860749, despite using only 0.098% of the total network hashrate.
  • The Bitcoin network hashrate hit an all-time high of 742 EH/s on Sept. 1, a 62% increase from the previous year’s 395.70 EH/s.
  • Solo CK miners have solved 14 blocks in the past year, earning 59.3 Bitcoin, worth approximately $3.4 million.

A solo Bitcoin miner recently earned around $180,000 after successfully validating a block on September 10. The miner, who was part of the Solo CK pool, processed Block 860749 containing 5,935 transactions. For their efforts, they received 3.169 Bitcoin, valued at approximately $182,505, according to Mempool.space .

JUST IN: A solo miner just mined a block claiming 3.169 #Bitcoin worth $181,143.

LEGEND 🤯 pic.twitter.com/XClijTqClS

— Bitcoin Magazine (@BitcoinMagazine) September 10, 2024

Small Miner Hits Big Payday

Solo CK , despite being a pool, allows solo miners to win the entire reward if they solve a block. This miner used 629 petahashes of computing power, which accounted for only 0.098% of Bitcoin’s total hashrate at the time. The overall hashrate of the Bitcoin network reached 644.91 exahashes per second (EH/s).

Bitcoin Hashrate Hits Record High

The Bitcoin network hit a record high hashrate of 742 EH/s on September 1st. There was a 62% rise compared to last year when it was 395.70 EH/s. Solo miners face greater competition when they need to invest in more computing power to achieve a higher hashrate, resulting in increased energy costs.

Challenges for Solo Miners

Solo miners face steep odds in solving blocks independently, and their success is rare. Out of the 859,000 blocks mined since Bitcoin’s launch in 2009, solo miners have solved only 290. Typically, large firms like Bit Digital and Riot Blockchain dominate the network with massive hash power.

Read CRYPTONEWSLAND on google news

Solo CK’s Impressive Record

Despite the dominance of large mining companies, Solo CK has achieved notable success. Solo CK pool miners solved 14 blocks in the past year, collectively earning 59.3 Bitcoin, which is now worth $3.4 million. Solo CK continues to prove that under the right conditions, small miners can still claim big rewards.

While solo mining is becoming more challenging, this miner’s success highlights that smaller players can still achieve big payouts. With the right conditions, solo mining remains a rewarding, though rare, opportunity in the ever-growing Bitcoin network. 

disclaimer read more

Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.