Solo Miner Solves Valid Bitcoin Block Amid Rising Network Hashrate – Earns 6.25 BTC
In a outstanding Bitcoin community growth this 12 months, a solo miner efficiently solved block 803,821, securing the coveted 6.25 BTC block reward valued at over $160,000.
The outstanding occasion unfolded on August 18, and the miner grew to become the 277th solo miner in Bitcoin’s historical past. This prevalence is unusual as a result of a lone miner of this magnitude usually solves a block roughly as soon as each seven years.
Solo Miners Are Slicing 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 fee capability in exahashes, an impartial miner with only some petahash doesn’t stand an opportunity. In accordance with its web site, the Solo CKpool permits miners with “outdated/inefficient miners that can by no means earn any rewards by means of common mining that want to go away it mining as a lottery.”
When customers are fortunate sufficient to resolve a block, it permits them to maintain 98% of the reward.
In the meantime, that is the third time this 12 months {that a} solo miner utilizing the Solo CKpool has processed a block. Two impartial 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 fee 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 Price. Supply. Blockchain.com
This represents a problem for miners, on condition that the value of BTC is already down. Nonetheless, profitability may take one other hit subsequent week when the mining issue modifications. BTC’s elevated hashrate is predicted to result in a 7% rise in mining issue, in keeping with Bitrawr.
In the meantime, miners in Texas is likely to be extra affected by the present circumstances, on condition 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.
