As a researcher with a keen interest in blockchain technology and cryptocurrency mining, I find myself awestruck by the story of this solitary Bitcoin miner who struck it rich. Having spent countless hours poring over data, mining pool structures, and the intricacies of hashrate distribution, this tale serves as a beacon of hope for the underdogs in the world of crypto.
One bitcoin miner defied the percentage and hit it big, successfully mining a bitcoin block and earning around $200,000 in the process. This big breakthrough occurred on March 30, 2024, when the miner processed block variation 858,978 at 4:21 pm UTC.
2391 transactions occurred within this block, earning the miner a 3.27 Bitcoin reward, roughly equivalent to approximately $199,094 using today’s currency values.
As a researcher delving into the realm of cryptocurrency mining, I’ve discovered a key player in our success – a singular entity known as the Solo CK Pool. This pool stands out from traditional mining operations, yet it draws from the same vein. What sets it apart is its unique ability to amalgamate the collective hashrate of small-scale operators.
This method leveraged the relatively low hashrate of the Solo CK pool miner, which is approximately 456 petahashes per second (PH/s). Compared to the usual network’s hashrate of about 665 exahashes per second (EH/s), it represents a tiny fraction, almost 0.012%.
The amount of computing power being used in the process of Bitcoin mining, referred to as network hashrate, reached a record peak of 754 quintillion hashes per second (EH/s) on July 23, as reported by BitInfoCharts.
Solo CK miners have solved 14 Bitcoin blocks over the past year, earning a total of 59.3 BTC, which is worth about $3.5 million at current prices. These successes are notable because of the dominance of large mining companies like Riot Blockchain and Marathon Digital, which control vast amounts of hashrate power. For a solo miner to validate a block is exceptionally rare.
Individual miners have managed to mine a single block about 290 times out of the total 859,000 blocks mined since Bitcoin was first introduced 14 years ago. The last instance of this happening was on July 25, when they successfully mined block 853,742, earning an estimated $210,000 in the process.
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2024-08-30 09:24