Solo Miner Wins $200K Bitcoin Jackpot with Minimal Hashrate

A solo Bitcoin miner, part of the Solo CK pool, has remarkably solved a block using a mere 0.012% of the average hashrate.

Recent Achievement

The miner recently processed block number 858,978 at 4:21 PM UTC, as reported by Mempool.space. This particular block included 2,391 transactions, and the miner earned 3.27 BTC, equivalent to approximately $199,094 at prevailing market rates.

About the Solo CK Pool

The block was solved by Solo CK Pool, which operates differently from conventional mining pools by pooling the hashrate of smaller miners while only rewarding the miner who successfully solves a block.

At the time of the block resolution, the Solo CK miner applied 456 PH of hashrate, while the average network hashrate stood at around 665 EH/s, putting the miner’s contribution at just 0.012% of the total hashrate.

Bitcoin’s hashrate recently peaked at an all-time high of 754 EH/s on July 23, according to BitInfoCharts.

Notable Achievements

In the previous year, the Solo CK miner processed a total of 14 Bitcoin blocks, amassing 59.3 BTC, which is valued at around $3.5 million based on current prices.

Rarity of Solo Mining Success

Given the dominance of large mining conglomerates like Riot Blockchain and Marathon Digital that control significant hashing power, it is uncommon for solo miners to validate a block. In fact, a solo miner successfully solving a block is a rare event, with only about 290 occurrences out of the 859,000 blocks mined since Bitcoin was created 14 years ago.

In March 2023, a solo miner reportedly earned the full 6.25 BTC reward for solving a block, although at that time, Bitcoin’s value was considerably lower, with the reward amounting to around $150,000.

The most recent solo-mined block prior to this victory occurred on July 25 when another solo miner solved block 853,742, receiving roughly $210,000 at that time.