Solo Bitcoin Miner Defies Odds with Significant Reward
In a remarkable display of luck and persistence, a solo miner with only 2.3 petahashes of computing power successfully mined a Bitcoin block, earning a $349,028 reward. Bitcoin historian Pete Rizzo described this achievement as beating “incredible odds,” highlighting the unpredictable nature of Bitcoin mining.
The Unpredictability of Solo Mining
Unlike pool mining, solo mining offers no guarantees, even with substantial hash power. This miner faced a mere 0.004% daily chance of success. The CKpool administrator congratulated the miner, acknowledging the rarity of this accomplishment.
Hardware Behind the Success
While the exact setup remains unknown, experts speculate the miner used older ASIC miners capable of 2.3 petahashes/second. This far exceeds the capability of typical hobbyist rigs, which rarely mine full blocks.
Previous Solo Mining Successes
This follows other notable solo mining victories, including a $300,000 reward earlier this year. These cases demonstrate solo mining’s high-risk, high-reward nature despite its challenges.
Industry Trends and Challenges
Major miners like Riot Platforms and Cipher Mining recently reduced output, partly to avoid Texas peak pricing. This context underscores the evolving Bitcoin mining landscape and its economic considerations.
