A single Bitcoin miner completed a valid block and received a reward of more than $220,000

A single Bitcoin miner

Another member of the Solo CK mining pool has individually mined a block on the Bitcoin network, receiving a block reward of 6.25 BTC (nearly $220,000 at current prices). On Monday, the event took place at a block height of 720,175.Solo mining entails a single miner working to validate blocks without collaborating with other miners in a mining pool and running a full blockchain node. The chances of verifying a block without sufficient hashing capabilities are exceedingly slim. To maximize their likelihood of validating a block and minimize the costs of solo mining, miners usually form pools to pool their hash power, boosting their chances of validating a block and inevitably sharing the rewards if they succeed. This solitary miner had a hash power of around 86 terahashes per second, according to a recent tweet from CKPool admin Con Kolivas. The computing speed at which a computer can execute the cryptographic processes required to mine bitcoin and validate a block for proof-of-work blockchain systems like Bitcoin is measured in hash power. The miner in issue has less hash power than one S9 mining machine, making this an extremely rare occurrence. Even more astonishing, another solo miner from the Solo CK mining pool performed a similar challenge by successfully solving a valid block only two weeks ago. Hass McCook, a member of the Bitcoin council, told Cointelegraph at the time, “To say this is exceedingly rare is an understatement.” CKPool isn’t a traditional mining pool; rather, it’s a service that allows solo mining without the costs and hassles of running a full Bitcoin node. Source: https://cointelegraph.com/news/yet-another-solo-bitcoin-miner-solved-a-valid-block-earning-a-reward-worth-over-220-000