AssetsMar 14, 2023

A single miner has mined a significant BTC block. He received approximately $148,000 in prize money

The miner of the oldest cryptocurrency was awarded for adding block number 780,112 to the Bitcoin blockchain.

A single BTC miner managed to mine an extremely important block. He used the Solo CK Pool service to create a mining pool. For guessing the hash for Bitcoin, he received a block reward of 6.25 BTC and 0.63 BTC. In total, this gave him about $148,000 in prize money.

A single BTC miner added a Bitcoin block

One on-chain data watcher noted that a single miner of a leading cryptocurrency managed to guess the Bitcoin hash on his own. This enthusiast stated that usually mining a BTC block should take him much longer, given the limited computing power he used.

The aforementioned cryptocurrency supporter stated that a miner of this size solves the equation on average once every 10 months. Considering he had been operating solo for a few days, he must have been extremely lucky.

At the time the block in question was added to the BTC blockchain, the total Bitcoin hash rate was over 308,262 PH/s. The lucky miner's hash rate of 6.7 PH/s was only 0.002% of the network's total computing power.

Huge luck of a single miner

According to expert estimates, in similar situations, the odds of a single Bitcoin miner mining a block of this cryptocurrency are 1 in 26.9 million. While these types of things rarely happen, they have happened before in the past.

Although such anecdotes may inspire optimism, the vast majority of BTC blocks added to the blockchain of the oldest digital currency come from large pools of mining platforms.

According to blockchain explorer and mining pool, the largest Bitcoin mining pool is currently Foundry USA with a computing power of 107 EH/s, which is approximately 34% of the total hash rate of this cryptocurrency network.