On July 4, a solo miner successfully mined block #903,883 on the Bitcoin network, earning a reward of 3.173 BTC ($348,948).
The participant used the CKpool platform, mining coins with equipment boasting a hash rate of 2.3 PH/s.
CKPool administrator Con Kolivas congratulated the miner, explaining that the odds of such an event are approximately 1 in 2800 per day.
Congratulations to miner bc1q~9sj3 with 2.3PH for solving block number 301 on the EU https://t.co/UWgBvLkDqc!
A miner of this size has about a 1 in 2800 chance of solving a block every day, or once every 8 years on average.https://t.co/OOy52cTPyA pic.twitter.com/anWOH9Nta0— Dr -ck (@ckpooldev) July 3, 2025
On average, a miner with such power can expect to mine a block once every eight years.
Decline Among Giants
The success of the solo miner comes amidst a decline in production among major public companies. Riot Platforms, Cipher Mining, and MARA Holdings reported a drop in production in June. The primary reason cited was the strategic reduction of operations in Texas due to high electricity prices during the summer months.
Riot Platforms produced 450 BTC, a 12% decrease from the previous month. MARA Holdings reported a 25% decline, mining 211 BTC. The company also cited weather conditions and the temporary use of older equipment.
Cipher Mining reported mining 160 BTC, attributing this to a “proactive strategy of avoiding” peak tariffs.
However, CleanSpark bucked the trend. It increased its Bitcoin production by 6.7% to 445 BTC. The firm also achieved its hash rate target of 20 EH/s.
Back in March 10, a solo miner mined block #887,212, earning approximately $250,000 with a $299 device.
On June 5, a solo miner received $330,386 for confirming a Bitcoin block.