Solo Miner Strikes Bitcoin Block, Earning $212,000

On July 24, a solo miner with a hash rate of 3 TH/s successfully added block #853,742 to the blockchain of the first cryptocurrency. This was reported by CKPool administrator Con Kolivas.

Congratulations to miner with the first bitaxe block, only a tiny 3TH for finding the 290th solo block on solo ckpool! This much hashrate only would find a block once every 3500 YEARS on average, or 1 in 1.2 MILLION chance per day! https://t.co/5Wtu9jydsF pic.twitter.com/D5sSzug42P

— Dr -ck (@ckpooldev) July 24, 2024

He noted that with such power, the chances of finding a block are one in 1.2 million, and on average, this event could occur once every 3,500 years.

The miner earned a total of $211,972 in rewards and fees.

Kolivas added that this is the first successful mining instance using Bitaxe devices from D-Central Technologies. These miniature devices are designed for solo mining, utilizing the Antminer S21 chip and delivering a hash rate of ~500 GH with an energy efficiency of 18 J/TH.

The CKPool administrator noted that the miner connected the address only 19 days ago and increased the computational power to 3 TH/s just in the last 24 hours.

Kolivas speculated that the miner used a combination of six Bitaxe units. According to the mining equipment seller Altair’s website, one device costs $179 in the US.

?Congratulations to the miner who likely mined the first solo BTC block with a Bitaxe on @ckpooldev with ~500 Gh hashrate!

?Props to @skot9000, @Public_Pool_BTC & @osmu_global on the project!

You can buy these proven winners here?
?https://t.co/fiEPh4pRA8#WeMineBitcoin pic.twitter.com/C6D9Jj1HlR

— Altair Technology® ⛏️ (@altair_tech) July 24, 2024

Throughout CKPool’s operation, this marks the 290th block mined by solo miners, emphasized the pool administrator.

Back in April, solo cryptocurrency miners achieved this feat twice: the first miner earned approximately $422,750, while the second, due to the recent halving, received only around $218,544.