Solo Miner Strikes Gold Again, Nets $181,000 in Bitcoin

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Successful Block Addition

On September 10, an individual miner successfully added block #860,749 to the Bitcoin blockchain, earning a substantial reward of 3.169 BTC, which translates to approximately $181,147, through both subsidy and transaction fees. This particular block included 5,959 transactions.

Reward Breakdown

Of the reward, 3.125 BTC came from the standard block subsidy set after the most recent halving in April, while the remaining 0.44 BTC (or about 1.4% of the total reward) was derived from transaction fees on the network.

Miner Specifications

Kon Kolivas, the administrator of CKPool, pointed out that the miner’s equipment boasted a hash rate of 82 PH/s. This is a notably high figure for solo mining operations. Just days earlier, on August 29, another pool participant with a device hash rate of 38 PH/s also struck lucky.

Mining Probability and Hashrate

According to Kolivas, this performance level means that a solo miner could reasonably expect to mine a block roughly once every four months. According to data from Glassnode, Bitcoin’s hashrate, measured over a smoothed 7-day moving average, hit an all-time high of 693.9 EH/s on September 8. It has since corrected to around 672 EH/s.

Historical Achievements

Historical data from Protos indicates that, as of early September, solo miners have successfully mined at least 329 blocks since 2014. This recent success story highlights the potential rewards of solo mining, even as the difficulty and competition within the Bitcoin network continue to increase.