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A Once-in-82-Year Event Occurred in Bitcoin! Solo Miner Snatched $290,000!
Source: CryptoNewsNet Original Title: A Once-in-82-Year Event Occurred in Bitcoin! It Snatched $290,000! Original Link: While Bitcoin (BTC) has experienced volatile price movements in recent days, a Bitcoin miner has achieved a major success.
According to the data, an individual Bitcoin miner managed to earn a block reward alone, despite the extremely low odds.
A Bitcoin miner mining alone using CKpool mined block number 927,474 and obtained a total of 3,133 Bitcoin. At current prices, this is equivalent to approximately $289,380.
This earning consists of a 3.125 BTC block subsidy reward ($283,944) and a 0.008 BTC ($689) transaction fee.
The probability of a miner of this size solving a block per day is 1 in 30,000. Such a situation, if it were to happen, might occur only once every 82 years.
Why Solo Mining?
While small-scale (individual) miners often prefer to profit by joining shared mining pools that provide stable rewards, some take a risk and try mining alone in the hope of winning the full block reward, like winning a lottery.
How Bitcoin Mining Works
Bitcoin blocks are generated approximately every 10 minutes and are typically mined by the mining pools with the highest hash power. The reward for successfully mining a block is currently 3,125 Bitcoin, following a halving event earlier this year.