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In a outstanding Bitcoin community growth this yr, a solo miner efficiently solved block 803,821, securing the coveted 6.25 BTC block reward valued at over $160,000.
The outstanding occasion unfolded on August 18, and the miner turned the 277th solo miner in Bitcoin’s historical past. This prevalence is unusual as a result of a lone miner of this magnitude usually solves a block roughly as soon as each seven years.
Solo Miners Are Chopping it
A miner, recognized with the tag bc1q2za4ejga366sn288273pty8trasn5zs4y9hqg6, achieved the spectacular feat utilizing the Solo CKpool mining service. Con Kolivas, the administrator of Solo CKpool, speculated that this miner was utilizing an S17 Bitcoin Miner and solely had a hash energy of roughly 1 PetaHash, which is miles decrease than most BTC mining entities.
![Bitcoin miner](https://s32659.pcdn.co/wp-content/uploads/2023/08/image-177-850x380.png)
As most BTC miners have hash charge capability in exahashes, an unbiased miner with just a few petahash doesn’t stand an opportunity. Based on its website, the Solo CKpool permits miners with “previous/inefficient miners that may by no means earn any rewards by common mining that want to depart it mining as a lottery.”
When customers are fortunate sufficient to resolve a block, it permits them to maintain 98% of the reward.
In the meantime, that is the third time this yr {that a} solo miner utilizing the Solo CKpool has processed a block. Two unbiased miners had been in a position to remedy BTC blocks in March and June.
BTC Hashrate Rising
In the meantime, BTC’s mining hash charge has elevated over the previous week regardless of the asset’s value struggles. Information from blockchain.com exhibits that Bitcoin’s hashrate rose to a brand new excessive of 414 EH/s on August 18 earlier than dropping to its present degree of 410.0 EH/s.
![Bitcoin hash rate](https://s32659.pcdn.co/wp-content/uploads/2023/08/image-178-850x425.png)
This represents a challenge for miners, on condition that the worth of BTC is already down. Nonetheless, profitability may take one other hit subsequent week when the mining problem modifications. BTC’s elevated hashrate is anticipated to result in a 7% rise in mining problem, in keeping with Bitrawr.
In the meantime, miners in Texas is likely to be extra affected by the present circumstances, on condition that power costs within the state have increased. This is because of warmth waves, and the state electrical energy supplier Electrical Reliability Council of Texas (ERCOT), has began asking for voluntary shutdowns.
Disclaimer
In adherence to the Belief Mission tips, BeInCrypto is dedicated to unbiased, clear reporting. This information article goals to supply correct, well timed info. Nonetheless, readers are suggested to confirm details independently and seek the advice of with knowledgeable earlier than making any selections based mostly on this content material.
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