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According to CoinTelegraph, a solo Bitcoin miner achieved a significant feat by successfully mining a block that yielded a 3.125 Bitcoin reward, translating to over $300,000 in value.
The block, numbered 883,181, was mined on February 10 and contained 3,071 transactions. The total reward for this block was 3.15 Bitcoin, which was valued at approximately $96,286 per Bitcoin, as per the data from the Bitcoin block explorer Mempool.space.
The identity of the miner remains unknown, but according to Bitcoin miner Marshall Long’s February 10 social media post, the miner was utilizing an implementation of the CKPOOL. Long mentioned that the miner did not appear to be directly from CKPOOL and speculated that a Bitaxe, a device used for solo mining, might have been employed in this rare mining success.
Bitaxe devices can be used for solo mining or within mining pools, where miners combine their computational power to enhance their chances of solving a block. Despite the current Bitcoin hashrate being at 788.86M, down slightly by 0.81% from 795.29M on February 9, it has still seen an increase of over 53% from the same time last year, according to data from Bitcoin transaction tracker YCharts.
The achievement of the solo miner is notable given the increased difficulty associated with mining due to a higher hashrate, which necessitates more computing power, raises energy costs, and lengthens verification and transaction times. Typically, large mining firms like Bit Digital, Riot Blockchain (NASDAQ:RIOT), and Marathon Digital (NASDAQ:MARA) dominate block validation due to their substantial hash power.
This event occurs as the broader cryptocurrency markets are showing signs of recovery following a temporary downturn triggered by US President Donald Trump’s announcement of tariffs on aluminum and steel.
Bitcoin’s price has rebounded, crossing back over $98,000, with a 1.22% increase over the last 24 hours, as reported by CoinMarketCap. However, it remains below its all-time high of over $109,000 reached on January 20, prior to Trump’s inauguration.
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