Bitcoin solo miner earns R$ 1.5 million reward for finding a block alone

Source: PortaldoBitcoin Original Title: Bitcoin Miner Lucky to Earn R$ 1.5 Million by Finding Block Alone Original Link: A solo Bitcoin miner received a reward of 3.13 BTC, approximately US$ 282,000 (R$ 1.5 million), after independently finding a block on Thursday (11), securing both the mining reward and the transaction fees included in it.

According to the administrator of CK Pool, a service created to assist solo miners in finding blocks, the success probability was about 1 in 30,000.

“Congratulations to miner 1Ng9~VoQz with 270 TH (terahashes) for solving the 311st block alone on solo.ckpool.org,” wrote the pool’s developer and administrator.

To use the pool, miners pay a 2% fee — about 0.062 BTC (approximately R$ 30,000) in this case — to the service when they find blocks, but they do not need to bear the operational costs of a full, expensive Bitcoin mining platform.

The most recent discovery was the fourth in the last three weeks among miners using Solo CK Pool. Prior to this sequence, the platform had not recorded a block found since September.

The platform’s miners have already earned a total of 5,553 BTC for their mining efforts, which is roughly US$ 511 million at current prices.

How to Play the Lottery

However, while individual miners sometimes strike gold and find their own block, experts say that mining without the support of a large pool “is like playing the lottery.”

This statement is especially true given that Bitcoin’s hashrate, or the total computational power of the network, continues to increase — currently averaging over 1 ZH/s (zetahash) in the last 24 hours.

Bitcoin mining, like that of other proof-of-work cryptocurrencies, requires miners to employ enormous computational capacity to participate in a competitive trial-and-error process. The process involves generating multiple combinations per second until a valid hash is found — something that depends on computational power, energy, specialized hardware, and a good dose of luck.

As a reward, miners receive newly created bitcoins — currently 3.125 BTC, along with the transaction fees of the mined block.

With changes in Bitcoin mining economics, some publicly traded mining companies are shifting their priorities to boost artificial intelligence growth — or choosing to exit entirely from Bitcoin-related activities.

In November, Bitfarms, a publicly traded company, announced it would shut down its Bitcoin mining operations after a US$ 46 million loss to focus on providing computational power to the growing AI sector.