A solo Bitcoin miner has made headlines by efficiently mining block quantity 858,978 on the Bitcoin blockchain, incomes a reward of three.275 BTC, valued at $199,098 on the time. The block, mined earlier immediately, contained 2,391 transactions, in accordance with blockchain information.
JUST IN: A solo miner simply mined a block value 3.275 #Bitcoin value $199,098.
LEGEND 🤯 pic.twitter.com/rqscP29dud
— Bitcoin Journal (@BitcoinMagazine) August 29, 2024
Bitcoin mining is the method by way of which new bitcoins are launched into circulation. It sometimes entails utilizing highly effective computer systems to resolve advanced mathematical issues, which confirm and add transactions to the blockchain. In return, miners are rewarded with newly minted bitcoins, referred to as the block subsidy, together with transaction charges paid by customers.
The miner’s accomplishment is critical, given the more and more aggressive panorama of Bitcoin mining, the place giant mining swimming pools normally dominate. Solo miners face the problem of competing towards giant, resource-rich mining swimming pools; nevertheless, though uncommon, the rewards might be substantial, as demonstrated by this and lots of earlier solo miners’ successes.
“Congratulations to miner 36AisvWi1UiwLTeTZxLzindAkorqeUc3tT for fixing the 291st solo block on solo.ckpool.org!” mentioned Solo CK administrator, Dr. Con Kolivas. “This hefty miner with 38PH would clear up a block on common as soon as each ~4 months.”
The achievement by this solo miner additionally serves as a reminder of the decentralized nature of Bitcoin, the place anybody with the correct sources can contribute to and profit from the community.
