A single Bitcoin miner who mines a valid block will receive a block reward of $150,000

A single miner mined block 780.112 in the Bitcoin blockchain and was rewarded with 6.25 BTC. The estimated value of the expenditure was over $150,000.

Lucky miners produced a valid hashrate in just two days of mining, and since this is rare, it can take a miner months to do so.

The rare event, which took place on March 10, was the 270th solo-mined block in Bitcoin’s 13-year history. At this scale, it typically takes an average solo miner around 10 months to solve a block.

The aforementioned miners created a separate mining pool using the Solo CK Pool mining service, for which they generated a valid hash block and received a reward of 6.25 BTC, with a fee reward of approximately 0.63 BTC.

Solo CK mining pool administrator Con Kolivas pointed out that miners performing this rare mining may be temporarily renting hash power to generate output hashes.


miner output hash bitcoin Single | Source: Bitcoin Explorer

Bitcoin mining requires miners with computing power to solve and add the next Bitcoin block to the network. Despite the growing popularity of the practice, increasing network hashrate, and more powerful equipment, it is nearly impossible for a single miner to solve an entire block alone.

Therefore, a valid hash block is usually generated using the computing power of multiple miners, all trying to mine the next block. Block rewards are distributed based on the input computing power of each miner in the mining pool.

The Solo CK mining pool has also dug some Bitcoin blocks alone before. Two of these separately mined blocks occurred in January 2022, just two weeks apart, the first on November 1, 2022 at block height 718,124, followed by 24/1 at block height 720,175.

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Ming Ying

As reported by Cointelegraph

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