Luck was the same. Bitcoin mining is an activity that requires significant resources, both in terms of hardware and electricity. Still, some lone miners continue to try their luck, hoping to solve a block and pocket the reward. This is what happened to one lucky kid who managed to mine a block of Bitcoin, winning over $347,000 in the process. A real masterstroke in a network where competition is fierce.
A lone miner hits the jackpot
This Sunday, an independent miner achieved the feat of processing block 913,632 through Solo CKPool, a service that allows small miners to participate in mining without having to manage their own full node. The reward? A total of 3.13 BTC, or about $347,872.
The block contained 593 transactions for a total of 473.61 BTC, or $52.6 million. The miner pocketed the base reward of 3.125 BTC, plus 0.0042 BTC in transaction fees. A nice sum for a lone miner, especially when you know that the difficulty of Bitcoin mining is at record levels.
Solo CKPool: The weapon of the little miners
Solo CKPool is a service that allows individual miners to participate in Bitcoin mining without having to operate their own full node. This offers a chance for small operations to compete with the industrial mining giants.
Although successes are rare, Solo CKPool allows lone miners to try their luck. And sometimes, as was the case with our lucky miner, perseverance pays off, which led Peter Chung, head of research at Presto Labs, to say the following:
“Of all the blockchain networks out there, there’s no comparison in terms of decentralization with the Bitcoin network and these kinds of events reinforce the narrative.”
Peter Chung, head of research at Presto Labs – Source: Decrypt
Despite the increasing difficulty of Bitcoin mining, some solitary miners continue to pull off feats. Already last week, another crypto blackface pocketed the 3,125 BTC under the admiring (and a little jealous) gaze of the rest of the community.
