Solo Miner Strikes Gold with $307K Bitcoin Block!

Solo miner hit the jackpot by mining block 883181 with a reward of 3.125 BTC worth $307,547.

According to famous Bitcoin miner Marshall Long, his lucky competitor may have used Bitaxe. This is an open-source project that can be used for solo mining or pool mining. Here, participants combine their computing power to increase the chances of mining a block.

The hashrate currently stands at 788.86 million, down 0.81% from 795.29 million on February 9, but up 53% from a year ago, data from YCharts platform shows.

A higher hash rate forces miners to use more computing power. This increases electricity costs and verification and transaction times, making it difficult for solo miners to mine. That's why they rarely manage to form blocks on their own.

Large mining companies like Bit Digital, Riot Blockchain, and MARA Holdings typically form the majority of blocks because each of them has so much power. For example, MARA reported that it mined 249 bitcoins in January, which is still 12% less than in December 2024