A single Bitcoin miner has achieved a rare feat by successfully solving a Bitcoin block independently, securing the full block reward of 3.125 Bitcoin.
On April 28, Con Kolivas, an administrator from the solo mining pool ckpool, announced on X that a miner had solved the 282nd solo block in Bitcoin’s history. This miner had a substantial hash rate of around 120 petahashes per second (PH/s) at the time, equivalent to 0.12 exahashes per second (EH/s).
Solving a Bitcoin block solo is exceptionally rare, akin to winning the lottery, and has only occurred 282 times out of the 841,300 blocks produced since Bitcoin’s inception.
Kolivas speculated that the miner may have switched from pooled mining post-halving to increase their chances of solo mining, or they may have intermittently hashed or rented significant hash power for solo mining.
The block reward for Bitcoin was recently halved from 6.25 BTC to 3.125 BTC at block 840,000 on April 20, making the reward for block 841,286 approximately $200,000 at the time.
The rise in Bitcoin’s price has led to increased mining activity and competition, resulting in a higher network hash rate and difficulty level. The current average network hash rate is 618 EH/s, indicating significant growth over the past year.
In March 2023, another solo miner secured the entire 6.25 BTC reward for solving a block, albeit at a lower value due to Bitcoin price at the time.
The recent solo mining achievement highlights the exceptional nature of the event and the ongoing evolution of the Bitcoin network amidst increasing competition and hash rate growth.
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