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A solo Bitcoin miner associated with the Solo CK Pool has achieved a rare feat by solving a Bitcoin block with significantly less than the average network hashrate. On August 29, the miner successfully processed block number 858,978, capturing a reward of 3.27 Bitcoin, valued at approximately $199,094 based on current prices.
The Solo CK Pool, known for its unique approach, utilized a hashrate of 456 petahashes per second (PH/s) when solving the block. In contrast, the current average Bitcoin network hashrate is around 665 exahashes per second (EH/s). This places the solo miner's contribution at about 0.012% of the total network hashrate.
This achievement is notable given the overall hashrate of the {Bitcoin} (BTC) network reached an all-time high of 754 EH/s on July 23. The Solo CK Pool operates differently from traditional mining pools; while it aggregates the hashrate of multiple small miners, it only distributes the block reward to the individual miner who successfully solves a block.
Over the past year, the Solo CK Pool has managed to solve 14 Bitcoin blocks, resulting in a total reward of 59.3 Bitcoin, valued at around $3.5 million. The rarity of solo mining success is underscored by the dominance of large mining firms, such as Riot Blockchain and Marathon Digital, which wield substantial hashing power. Historically, solo mining has achieved success approximately 290 times out of nearly 859,000 blocks mined since Bitcoin's inception.
Previously, a solo miner achieved a similar success in March 2023, capturing a block reward valued at about $150,000, reflecting lower Bitcoin prices at the time. Another notable instance occurred on July 25, when a solo miner solved block 853,742 and received a reward of approximately $210,000.
This recent achievement highlights the extraordinary nature of solo mining within the competitive landscape of Bitcoin mining.
