Mar 13, 2023
Solo Miner Nets $150K Bitcoin Block Reward
A lone Bitcoin miner has achieved the extraordinary feat of mining the 780,112th block in the Bitcoin blockchain, receiving a 6.25 Bitcoin (BTC) block reward in return. The value of the payout is estimated to be over $150,000.
This momentous occasion took place on March 10 and was the 270th solo mined block in Bitcoin’s 13-year-long history. The rarity of this event is due to the fact that a solo miner of this size usually solves a block, on average, about once every 10 months.
The miner, identified as miner39nDQ9BexEBXpRdkHY1z95CaMDEwh6muPW, used the Solo CK Pool mining service to create a solo mining pool and was ultimately rewarded with 6.25 BTC, along with a fee reward of roughly 0.63 BTC.
The Solo CK mining pool admin, Con Kolivas, speculated that the miner may have rented hashing power to produce the output hash. This would not be surprising, as Bitcoin mining requires miners to input a large amount of computational power to solve and add the next block to the network. With the growing popularity of BTC mining and the increasing hash rate and powerful mining machines, it is nearly impossible for a solo miner to solve the entire block on their own.
Thus, the valid block hash is often produced using the combined computational power of multiple mining rigs, all attempting to mine the next block. The block reward is distributed according to the input hash rate of each miner in the mining pool.
The Solo CK mining pool has been behind several solo-mined Bitcoin blocks in the past, with two of these blocks coming in January 2022, only two weeks apart. The first occurrence was on January 11, 2022, at a block height of 718,124, followed by another on January 24, at a block height of 720,175.
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