A single Bitcoin miner has successfully mined the 780,112th block on the Bitcoin network, obtaining a reward of 6.25 bitcoin. The payout’s estimated value exceeds $150,000.
The solitary miner was also fortunate to have generated a good hash after just two days of mining, since the occurrence itself is uncommon and it may take months for a solo miner to get a valid hash.
It was the 270th solo-mined Bitcoin block in Bitcoin’s 13-year existence, which happened on March 10. This incident is uncommon since a miner of this scale typically solves a block once every 10 months on average.
The miner used the Solo CK Pool mining service to build a solo mining pool, for which they generated a valid block hash and were awarded with 6.25 bitcoins and around 0.63 bitcoins in fees.
The administrator of the Solo CK mining pool, Con Kolivas, observed that the miner responsible for the uncommon incident may have hired hashing capacity to create the output hash.
Bitcoin mining needs miners to contribute computing power to solve and add the next bitcoin block to the network.
Due to the increasing popularity of Bitcoin mining, the continual increase in the network hash rate, and the increasing capabilities of mining computers, it is almost impossible for a single miner to solve a whole block on their own.
Thus, a valid block hash is often generated utilizing the processing capacity of numerous mining rigs, all of which are attempting to mine the next block.
The block reward is paid according to each miner’s input hash rate in the mining pool.
In the past, the Solo CK mining pool was also responsible for solo-mining Bitcoin blocks.
The first of these two solo-mined blocks occurred on January 11, 2022, with a block height of 718,124, and the second occurred on January 24, 2022, with a block height of 720,175.
