An anonymous miner mining alone on the Bitcoin network has struck it rich in today’s mining ecosystem, which is dominated by large corporations.
The miner in question successfully processed a block on the Bitcoin blockchain, earning a reward of over $300,000.
The processed block was block number 932,373 on the Bitcoin chain, according to Mempool records which track blockchain data. Including transaction fees, the miner’s earnings amounted to 3,157 BTC.
Considering that Bitcoin is trading at $96,199, the total value of the reward has reached approximately $304,814.
The term “solo miner” describes individual or independent operations that operate without being affiliated with large mining pools. These miners compete against massive data centers and enterprise players with high computing power. However, as seen in recent examples frequently shared on social media, some solo miners are emerging victorious in this fierce competition.
On the other hand, it is noted that this miner, listed as “unknown” in the Mempool data, does not necessarily mean that he is small-scale. According to experts, even a lone miner may have invested in expensive and powerful equipment.
Bitcoin miners earn a fixed reward of 3,125 BTC for each block they process, as well as fees charged for transactions sent to the network. However, volatility in Bitcoin prices and rising costs are making profitability difficult for many mining companies. Therefore, some large operations have begun shifting their resources towards artificial intelligence and high-performance computing (HPC).
*This is not investment advice.
