A solo Bitcoin miner has defied the odds, earning more than 3 bitcoins with just 0,00026% of the network's power.
Few can imagine what it means to beat the Bitcoin network alone, especially when the odds are not in your favor. However, one individual miner achieved exactly that by mining the block number 903.883 and pocket the reward of 3,125 BTC, which is equivalent to a staggering $343.000, approximately.
For experts, this milestone not only defies statistics, which estimate a probability of just 1 in 2.800 achieving it in a single day, but also once again highlights the technical and strategic decoding behind solo mining, that bold and rare act in the vast Bitcoin ecosystem.
BUY BITCOIN ON BIT2MEA lone miner takes the reward for block #903.883
Imagining how a single miner can collect the entire reward of a Bitcoin block is, for many, like watching a lottery with a low probability of winning. This miner was working with a computing power of only 2,3 petahashes per second (PH/s), a tiny figure compared to the total hash rate of the Bitcoin network, which currently exceeds 865 exahashes per second (EH/s), according to the data from Coinwarz. To put this into perspective, its fee represents just 0,00026% of the network's total power.
Source: Coinwarz
However, this is where so-called solo mining comes into play, a method that contrasts with most miners who prefer to join pools or mining groups. These groups combine the power of many machines to increase the odds of finding blocks, then share the profits proportionally. Solo mining, on the other hand, involves one operator competes alone against the rest of the network, with the advantage of pocketing the entire block reward if they are the first to solve it, although the risk and uncertainty are greater.
But, despite how risky and uncommon this method is, this is not an isolated case. Since the last Bitcoin halving in April 2024, there have been at least six high-profile cases of solo miners successfully mining a full block and collecting the entire reward. This shows that, although the network is dominated by giants with immense computational power, there is still room for decentralization and for small miners to have moments of glory within this digital ecosystem.
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He earned almost $350 in BTC.
The recent case was confirmed by CKpool developer Con Kolivas, who is responsible for the software used by this miner. According to Kolivas, a miner with a hashrate of 2,3 PH/s has only a 1 in 2.800 chance of mining a valid block each day, or to put it another way, an average opportunity every 8 yearsThis technical feat also means that even if the miner doesn't have the massive power of giants like MARA, which exceeds 57 EH/s, they can still reap their full rewards if circumstances and a dose of luck align in their favor.
In addition to the block subsidy, which in this case was 3,125 BTC, the miner received other 0,048 BTC extra derived from fees for transactions processed within the blockThese figures add up to a total of approximately $348.900 in total profits for that block of blockchain content, clearly illustrating the economic potential this activity can have, even with relatively modest equipment.
Of course, the evolution of Bitcoin mining means that, over time, it becomes increasingly difficult to find blocks solo due to competition and the exponential increase in the global hash rate. For a solo miner to be successful, they must have efficient and stable equipment that runs uninterruptedly, in addition to the added benefit of mining at times when the network may be more accessible to such operations.
BUY AND SELL BTC HERESolo mining in an ecosystem dominated by giants
Solo Bitcoin mining isn't the most common method within the crypto community, but it holds particular appeal for those seeking the full block reward, avoiding the fees charged by mining pools. Essentially, experts believe that mining this way is like participating in a "technical lottery" that tests patience, strategy, and a bit of luck.
Although only a handful of solo miners have managed to obtain a block reward, each of these cases serves as a reminder of the decentralized nature of the Bitcoin network, which allows for more than just large corporations to thrive. These moments not only motivate small miners but also ignite a passion for autonomy and personal control in the cryptocurrency space.
It is important to highlight that on the network, the computational power that is measured in hash rate It's crucial to determine the chances of mining a block. However, examples like that of the miner in block 903.883 demonstrate that, while scale matters, there's always a window for a well-executed solo effort to be rewarded with success.
In short, this extraordinary case of solo mining, where a miner managed to mine an entire block with minimal computational power, highlights the unique balance of probability, technology, and perseverance that characterizes Bitcoin. Figures and statistics showing a 1 in 2.800 chance of achieving such a feat in a single day do not discourage those who believe in decentralization and the possibility of challenging the network's hashing powerhouses.
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