Solo miner mines a block of bitcoin and earns $137 000

The reward was 6,25 BTC and a fee of 0,63 BTC

13.03.2023 - 13:20

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3 min

What’s new? On March 10, a solo miner managed to mine an entire block of bitcoin at #780 112. The block was mined over a period of two days. According to CKPool administrator Con Kolivas on Twitter, a miner with this size of capacity (6,7 PH/s) calculates a block once every ten months on average, so the event is “very lucky.”

Congratulations to miner39nDQ9BexEBXpRdkHY1z95CaMDEwh6muPW who solved the 270th solo block at https://t.co/UWgBvLkDqc with 6.7PH but doesn't appear to have been mining for very long https://t.co/WGVBC3QajX — Dr. Con Kolivas (@ckpooldev) March 10, 2023

What else is known? According to blockchain explorer BTC.com, the reward for the block mined was 6,25 BTC, along with a fee of 0,63 BTC. In total, the miner earned about $137 270 at the exchange rate at the time of mining.

BTC.com’s data

What is cryptocurrency mining

In the cryptocurrency world, mining is the process of creating blocks in a blockchain and paying rewards to people who invest their computing resources in the process

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The solo miner turned out to be a Russian user of the bitcoin forum under the pseudonym Pineconeeee. He thanked the creator of the pool and said that he was previously mining on his own equipment with a capacity of 270 TH/s, and on 9 March he rented an additional capacity of 5 PH/s using the NiceHash service.

Post on the forum

In January 2022, a solo ETH miner managed to mine an entire block, working through the 2miners pool. The reward was 168 ETH, approximately $540 000 at the time. This amount exceeded the average by almost 42 times. In the same month, two anonymous solo miners also mined one whole block of BTC. Each of them had a 1 in 1 400 000 chance of mining an entire block.

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