On September 10
A solo miner hit the jackpot by successfully adding block #860,749 to the Bitcoin blockchain, collecting a hefty reward of 3.169 BTC, equivalent to roughly $181,147, from both block subsidies and transaction fees. This block featured 5,959 transactions.
Of the total reward
3.125 BTC came from the standard block subsidy that was set following the most recent halving event in April. The remaining 0.44 BTC, or about 1.4% of the reward, was made up of transaction fees on the network.
Kon Kolivas
The administrator of CKPool, noted that the miner’s setup featured a hash rate of 82 PH/s—a remarkable figure for solo mining. Just a few days earlier, on August 29, another member of the pool with a hash rate of 38 PH/s also found success. According to Kolivas, such a performance level means that a solo miner could, on average, expect to mine a block about once every four months.
Data from Glassnode
Reveals that Bitcoin’s hashrate, averaged over seven days, reached an all-time peak of 693.9 EH/s on September 8. It has since adjusted to around 672 EH/s. Historical records from Protos indicate that solo miners have successfully mined at least 329 blocks since 2014. This recent win underscores the lucrative potential of solo mining, even as the difficulty and competition within the Bitcoin network continue to rise.
My name is Jay Skrantz, and I’ve been a freelance writer for 10 years, concentrating largely on investment brokerage, mutual fund investing, and financial analysis topics. As a reporter, I’ve written extensively for a wide variety of sites and publications like SeekingAlpha, MoneyShow, and MotleyFool. I’ve also done substantial freelance work for a number of financial publications, including MarketWatch, CIO Magazine, and TheStreet.
