🚀 Solo Miner Outpaces Major Mining Pools Again
posted 11 Sept 2024
A solo Bitcoin miner successfully mined block number 860749, earning 3.169 BTC ($180,000). This individual is a member of the Solo CK mining pool, which brings together various standalone miners but only rewards the actual solver of the block.
Details on block 860749. Source: Mempool Space website.
The miner used equipment with a hash rate of 629 PH/s, representing only 0.098% of the network's total hashing power (644 EH/s). This substantial overall hash rate increases the difficulty of mining a block, thereby raising both energy costs and the time required to verify transactions.
Large mining pools (like ViaBTC and ANTPOOL) or major crypto mining corporations such as Riot Blockchain or Marathon Digital typically discover new blocks. However, over the last year, the Solo CK Pool has mined 14 blocks, earning around 59.3 BTC ($3.4 million).
For example, on August 30, 2024, another Solo CK participant mined a block with only 0.012% of the network's total hash rate and earned $200,000. Throughout Bitcoin's history, standalone miners have solved only about 290 blocks out of 859,000.
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