In a recent milestone within the world of cryptocurrency, a solo miner accomplished a significant feat by successfully mining a single block of Bitcoin just days before the anticipated halving event. Utilizing equipment with a hashrate of 7 PH/s, the miner managed to secure block #837,814 within the Bitcoin blockchain, marking a momentous achievement in the realm of digital currency.
According to data from Mempool, the solo miner reaped substantial rewards from their endeavor, obtaining a total of 6.36 BTC. At the time of block mining, this amounted to approximately $422,750, inclusive of a commission of 0.1 BTC.
Offering insights into the miner’s journey, CKPool pool administrator Con Kolyvas highlighted that the miner had been engaging in intermittent mining activities since the pool’s last restart. Over time, they managed to accumulate an average share of about 0.05%, contributing significantly to the eventual successful mining of the block.
This achievement stands as a testament to the potential profitability of solo mining operations within the Bitcoin network. Notably, in October 2023, another solo miner with a hardware power of 11 PH/s secured a block, earning a reward of 6.25 BTC along with a commission of 0.09 BTC. Similarly, in May 2023, an individual garnered $177,115 through block mining, receiving 6.25 BTC as a reward alongside a commission of 0.24 BTC.
The success of these solo mining endeavors coincides with notable shifts in the broader landscape of Bitcoin mining. As of the end of March 2024, the mining difficulty experienced a modest decrease of 0.97%, bringing the indicator to 83.13 T. During this period, the average hashrate maintained a level of 593.99 EH/s, ensuring the steady progression of block generation within the network.
With the average time between blocks remaining consistent at 10 minutes and 7 seconds, the recent accomplishments of solo miners underscore the ongoing evolution and potential profitability of individual mining ventures within the Bitcoin ecosystem.
