A solo Bitcoin miner with 11 petahash per second (PH/s) successfully mined a block using Solo Ckpool, a platform for solo miners with lower hashrates.
- A solo miner with just 11 PH/s of mining power successfully mined Bitcoin block 814,308 using Solo Ckpool.
- Solo miners, operating without support from large mining pools, have been making notable discoveries in 2023.
- Unique platforms like Ckpool allow solo miners to claim 99% of the block reward when they successfully mine a block.
- Solo mining success stories highlight the unpredictable nature of Bitcoin mining and the appeal of independence for miners.
Solo Miner Finds Another Block
In an unexpected turn of events, a solo miner wielding a modest 11 petahash per second (PH/s) of mining power has managed to successfully mine Bitcoin block 814,308. This remarkable achievement was made possible through Solo Ckpool, a service tailored for solo miners operating with lower hashrates or older, less efficient hardware.
2023 has witnessed a surge in the number of solo miners making significant contributions to the Bitcoin blockchain. On October 28th, Con Kolivas, the developer behind Solo Ckpool, announced the discovery of block 814,308 by a lone miner with 11 PH/s of hashpower.
Unveils Unpredictable Vein
Unlike the dominant Bitcoin mining pools that distribute block rewards among numerous participants, platforms like Ckpool are designed to empower solo miners. When a solo miner strikes gold by successfully mining a block, they claim a staggering 99% of the block reward, leaving other pool miners empty-handed. Just 72 days ago, on August 18, 2023, Kolivas revealed that a solitary miner with only 1 PH/s of hashrate had mined block height 803,821.
— Bitcoin.com News (@BTCTN) October 30, 2023
Kolivas highlighted that a miner with 1 PH/s typically has a chance of success once every seven years, given the network’s difficulty. However, in June, another miner defied the odds by discovering block height 793,607 with a mere 17 terahash per second (TH/s) of mining power, likely using an older Bitmain S9 unit.
These instances of solo miners achieving remarkable success, whether with lower or higher hashrates, are becoming increasingly sporadic. The allure of solo mining pools lies in the independence they offer miners. Bitcoin mining, it turns out, is more random and unpredictable than one might think. The discovery of a block isn’t always directly tied to a miner’s computational power; it often hinges on chance, akin to someone winning the lottery with a single ticket compared to another buying multiple tickets to boost their odds.
The recent feats of solo miners serve as a testament to the ever-evolving and unpredictable nature of Bitcoin mining. While large mining pools continue to dominate the landscape, these solo success stories showcase the potential for smaller players to make significant contributions to the network.
The appeal of independence and the thrill of defying the odds are driving more miners to explore the world of solo mining. As the Bitcoin network continues to grow and evolve, we can expect more tales of solo miners striking gold amid the giants of the mining world. What are your thoughts on these solo mining success stories? Share your opinions in the comments below.