2023-06-14 11:03:28
Did it work a third time? This is the third time since January that another solo bitcoin miner generated the new block, for which he received a reward of 6.25 BTC, or regarding $160,000.
An independent miner has solved a block that would normally take several years using the limited computing power available to him. The miner identified by the tag 151XTfHBfaDqoNWGGeYobNX2YzFFWuB5YD solved block 275 of the Bitcoin blockchain on the Solo CKPool platform.
A CkPool adminja, Con Kolivas highlighted, that it would take a solo miner an average of 450 years to solve a Bitcoin block, and the odds are 1 in 5,500. But now this independent miner has managed the feat.
According to Kolivas, the miner running at a modest ~17 Terahashes per second (TH/s) is likely using a single S9 Bitmain Antminer unit. The Bitmain Antminer S9 model was released in 2017 – and the latest model, the Antminer S19XP, in 2022.
One of the characteristics of proof-of-work consensus algorithms is mining. This is the process by which blocks of transactions are added to a public blockchain—like Bitcoin, Dogecoin, and Litecoin—and become verifiable. Meanwhile, new coins are created. Mining ensures the integrity of the blockchain and encourages the widest possible participation in the network.
Solo miners use the Solo CK Pool provider
Overall, we can say that the more mining machines a miner has, the more chances he has to earn block rewards and collect more transaction fees.
It seems that solo miners are all using the Solo CK Pool mining service. In March, another solo miner also used this service to solve Bitcoin block 780,112. At that time, he also received a block reward of 6.25 BTC, or regarding $148,000 at the exchange rate at the time.
The Solo CK Pool provider advertises itself as being able to serve large mining farms. But also for miners who “they have old or less efficient miners who will most likely never get block rewards with normal mining and who want to treat mining like playing the lottery“.
Now the lottery seems to have paid off once more.
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