After the fourth Bitcoin mining round, the BTC is long due for a Bull run, as historical data indicates the possibility of one. However, as the crypto market is in the consolidation period, a bull run might not happen until 2025. Here, the main impact of the halving is on the BTC Miners whose revenue collection has dropped in half due to the block mining rewards changing from 6.25 to 3.125. Moreover, mining activities have become more challenging with time, especially with Solo miners. However, this one Solo Bitcoin miner has won the odds, winning the BTC mining jackpot and earning $180,000 through the Solo CK mining pool.
Bitcoin Miner Hits The Mining Jackpot, Earns $180K
Recently, a Bitcoin miner highlighted how the odds of the cryptocurrency work and why being available at the right time is the best profit-making tip. Recently, the memepool.space revealed how a BTC miner has hit the Bitcoin mining jackpot, earning more than $182,000 to mine Block 860749. This single block contained 5,935 transactions, which made the miner earn 3.169 BTC in reward, equivalent to $182,505. It includes the transaction fees and full block subsidy.
However, as the Bitcoin price has dropped since then, currently at $56,494, the value of these rewards has reduced to 179,029.486. Despite that, it is a bigger milestone, especially for the Solo miner. This is because these solo miners compete against mining companies with exceptional computing power and other resources.
Moreover, the miner has just used 0.098% of the computing power in this case to secure the Bitcoin network. On that day, the recorded hash rate was 644.91 ETH/s.
Another BTC Miner Hit The Bitcoin Mining Jackpot of $200K
Two weeks earlier, another Bitcoin miner won a similar jackpot, earning $200,000 after mining Block 858978. His story is also interesting, as he utilized only 0.12% of the hash rate. However, solo miners winning such a lottery is rare due to the increased competition.
Up to now, the miners have produced around 859,000 Bitcoin blocks, and out of these, only 290 blocks were solved by the Solo BTC miners, indicating the competition faced by the bigger BTC mining firms.
The main reason behind this is the Bitcoin hash rate, which has recently hit the highest mark of 742 EH/s, 62% higher than the previous year. This increase in hash rate has created additional challenges in Bitcoin mining. It is concerning, as a Coingape report revealed how Bitcoin halving alone hits miners with billions in losses as the block reward has reduced to half.
Final Thoughts
In the last two weeks, two solo Bitcoin miners have bagged big jackpots, making $180K and $200K after validating one block. This is more significant as solo BTC miners get relatively fewer opportunities due to high competition from bigger mining firms equipped with high computation power and other resources. The reports also revealed that the miner only utilized 0.98% of the computational power. In a series of profit-making stories, a crypto investor made Millions recently after the invested token price boomed 10x, shocking the netizens.
The post How a Solo Bitcoin Miner Won $180,000 in BTC Mining Reward? appeared first on CoinGape.