Individual Bitcoin Miner Hits 1 in 5000 Odds: Earns $220,000

Following the halving event, where miner rewards were halved, approximately 10 days ago, an individual miner successfully found a block solo, securing both the reward and transaction fees, amounting to nearly $220,000.

Solo Success Amidst Diminishing Odds

While the number of individual miners dwindles daily, they occasionally achieve solo block discoveries. Last night, a miner found the 841,286th block and pocketed the 3.125 BTC miner reward alongside transaction fees.

A 0.02% Chance

This individual miner, who accumulated a total of 3.43 BTC, saw their dollar income exceed $218,000. According to data from the Bitcoin site Mempool, the individual using CKpool mining software had remarkably low odds. With a hash rate of 120 PH per second compared to the total network hash rate of 638 exahashes per second, the odds of this miner finding the block solo were less than 1 in 5000.

A Rare Lottery Win

This individual, akin to hitting a 0.02% lottery jackpot, is certainly not the first. Historically, there have been instances where individual miners have solo discovered blocks. Before the halving event, on April 5th, another miner found a block solo, earning $422,000.

Halving and Milestones

As known, the halving event, where miner rewards are halved, occurred on April 20th at the 840,000th block. The mining pool ViaBTC demonstrated the first block discovery success and recently sold the first Bitcoin earned from it for $2.1 million last week.

Leave a Reply

Your email address will not be published. Required fields are marked *

0.084