A solo Bitcoin miner working with the Solo CK pool solved a block using only 0.012% of the total mining power.
Against all odds, another solo Bitcoin miner won the Bitcoin mining jackpot, successfully solving a block and earning almost $200,000.
The miner solved block number 858,978 at 4:21 pm UTC, based on information from Bitcoin’s block explorer, Mempool.space. The block had 2,391 transactions, and the miner earned 3.27 BTC, which is about $199,094 at today’s prices.
Interestingly, the block was processed by a miner from the Solo CK Pool, which is different from regular mining pools because it allows solo mining.
Mempool data shows that this Solo CK miner used 456 PH/s (petahashes per second) of mining power when the block was solved.
The average network mining power is 665 EH/s (exahashes per second), so this miner was operating at just 0.012% of the average hashrate.
Bitcoin’s mining power reached a record high of 754 EH/s on July 23, according to BitInfoCharts.
Despite its name, SoloCK “pool” combines the mining power of small miners but only gives the reward to the miner who actually solves the block.
Over the past year, SoloCK miners have solved 14 Bitcoin blocks, earning 59.3 Bitcoin, which is worth about $3.5 million today.
Big mining companies like Riot Blockchain and Marathon Digital have huge mining power, making it very rare for solo miners to successfully validate a block.
It’s so rare that solo miners have only solved around 290 blocks out of the 859,000 blocks mined since Bitcoin started 14 years ago.
In March 2023, a solo miner earned the full 6.25 BTC reward for solving a block, but because Bitcoin’s price was lower then, the reward was about $150,000.
The latest solo-mined block was on July 25, when a solo miner solved block 853,742 and earned a reward of around $210,000 at the time.
