Solo Miner Solves Valid Bitcoin Block Amid Rising Network Hashrate – Earns 6.25 BTC
In a exceptional Bitcoin community improvement this yr, a solo miner efficiently solved block 803,821, securing the coveted 6.25 BTC block reward valued at over $160,000.
The exceptional occasion unfolded on August 18, and the miner grew to become the 277th solo miner in Bitcoin’s historical past. This prevalence is rare as a result of a lone miner of this magnitude sometimes solves a block roughly as soon as each seven years.
Solo Miners Are Reducing it
A miner, recognized with the tag bc1q2za4ejga366sn288273pty8trasn5zs4y9hqg6, achieved the spectacular feat utilizing the Solo CKpool mining service. Con Kolivas, the administrator of Solo CKpool, speculated that this miner was utilizing an S17 Bitcoin Miner and solely had a hash energy of roughly 1 PetaHash, which is miles decrease than most BTC mining entities.
Solo Bitcoin Miner. Supply: BTC.com
As most BTC miners have hash price capability in exahashes, an unbiased miner with just a few petahash doesn’t stand an opportunity. In line with its web site, the Solo CKpool permits miners with “previous/inefficient miners that can by no means earn any rewards by common mining that want to go away it mining as a lottery.”
When customers are fortunate sufficient to unravel a block, it permits them to maintain 98% of the reward.
In the meantime, that is the third time this yr {that a} solo miner utilizing the Solo CKpool has processed a block. Two unbiased miners have been in a position to clear up BTC blocks in March and June.
BTC Hashrate Growing
In the meantime, BTC’s mining hash price has elevated over the previous week regardless of the asset’s worth struggles. Information from blockchain.com reveals that Bitcoin’s hashrate rose to a brand new excessive of 414 EH/s on August 18 earlier than dropping to its present stage of 410.0 EH/s.
Bitcoin Hash Fee. Supply. Blockchain.com
This represents a problem for miners, provided that the worth of BTC is already down. Nevertheless, profitability may take one other hit subsequent week when the mining issue adjustments. BTC’s elevated hashrate is anticipated to result in a 7% rise in mining issue, in accordance with Bitrawr.
In the meantime, miners in Texas is likely to be extra affected by the present situations, provided that vitality costs within the state have elevated. This is because of warmth waves, and the state electrical energy supplier Electrical Reliability Council of Texas (ERCOT), has began asking for voluntary shutdowns.
