A Bitcoin miner made headlines after successfully mining block number 858,978 on the Bitcoin blockchain, earning a reward of 3,275 Bitcoin, worth $199,098 at the time. The block, mined earlier today, contained 2,391 transactions, according to blockchain. Data.
BREAKING: A solo miner just mined a block worth 3.275 #Bitcoin Worth $199,098.
Legend 🤯 pic.twitter.com/rqscP29dud
— Bitcoin Magazine (@BitcoinMagazine) August 29, 2024
Bitcoin mining is the process by which new bitcoins are released into circulation. This process typically involves using powerful computers to solve complex mathematical problems, which then verify transactions and add them to the blockchain. In return, miners are rewarded with new bitcoins, known as a block subsidy, along with transaction fees paid by users.
The achievement of solo miners is significant, given the increasing competition in Bitcoin mining, where large mining pools typically dominate. Solo miners face the challenge of competing against large, resource-rich mining pools; however, while rare, the rewards can be significant, as demonstrated by the success of this solo miner and many previous solo miner successes.
Congratulations to miner 36AisvWi1UiwLTeTZxLzindAkorqeUc3tT for solving single block #291 on solo.ckpool.org“!” He said Dr. Con Kolyvas, CK Solo Director: “This massive 38PH mineral can dissolve one mass on average about once every 4 months.”
The achievement of this single miner serves as a reminder of the decentralized nature of Bitcoin, where anyone with the right resources can contribute to and benefit from the network.