Bitcoin miner broke the bank: $180,000 in just one block!

A Bitcoin miner managed to make a profit of approximately $18,000 by processing a single block on their own.

According to Mempool.space, a total of 5,935 transactions were made in block number 860749, which was mined on September 10th. Approximately 3,169 Bitcoins (BTC) worth about $182,505 were rewarded to the Solo CK mining pool. According to data from Bitcoin transaction tracker YCharts, the successful miner used a hash rate of 629 petahashes when the block was solved; this represents only 0.098% of the total power securing the blockchain and translates to 644.91 exahashes (EH/s) per second.

What is the current status of Bitcoin mining data?

Bitcoin hash rate reached its all-time high on September 1st, hitting 742 EH/s, marking a 62% increase compared to the hash rate of 395.70 EH/s a year ago.

The said ratio requires miners to use more processing power, increases energy costs, extends verification and transaction times, making it harder for solo miners to successfully verify a block out of a total of 859,000 blocks produced since the launch of Bitcoin in 2009, only 290 times has a single miner successfully solved a block.

Big mining companies like Bit Digital, Riot Blockchain, and Marathon Digital usually validate the most blocks because they have a large amount of hash power each. The Solo CK pool was responsible for solving 14 more blocks last year and received 59.3 Bitcoin in return for these efforts, which is currently valued at 3.4 million dollars.

On August 30th, a miner from the Solo CK pool processed a block, earning the miner approximately $200,000. Another solo miner from Solo CK also processed block number 853,742 on July 25th.

This article does not contain investment advice or recommendation. Every investment and trading move involves risk and readers should conduct their own research when making a decision.