A solo Bitcoin miner has turn out to be the newest fortunate individual to win the Bitcoin Mining Lottery and bag a $347,455 block reward.
Bitcoin node infrastructure firm Umbrel stated a solo miner acquired a block by way of a public pool Bitcoin mining pool, incomes a block reward of three.125 Bitcoin (BTC), plus a transaction price of 0.016 BTC.
It occurred on Thursday at 7:32 pm (UTC) at a block peak of 920,440, based on Mempool.area information.
Whereas it is not unusual for solo Bitcoin miners to amass blocks, this one was extra spectacular as a result of the miner secured the blocks completely on their very own by operating a solo mining pool, versus the frequent apply of pooling hashing energy with different miners.
“There are not any intermediaries. There are not any third events. Simply pure self-sovereignty at work,” Umbrel stated, including the Bitcoin Bazaar X account:
“Solo blocks are mined by solo miners in their very own mining swimming pools hosted on Umbrel servers. Full sovereignty. We’d like extra of this.”
sauce: Matthias
Solo Bitcoin mining is a victory for decentralization
The rise in solo Bitcoin miners fixing blocks is nice for Bitcoin decentralization as a result of it offers small miners a greater probability to compete with massive, industrial-scale miners, lots of that are publicly traded.
Pocket-sized Bitcoin miner nonetheless cheaper than iPhone
This comes amid the rise of small-scale Bitcoin miners lately, similar to Bitaxes, which promote for anyplace from $155 to greater than $600, relying on the machine’s terahash/second capability.
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A BitMaker spokesperson informed Cointelegraph in 2023 that whereas the mixture of pocket-sized machines contributes solely a small increase to Bitcoin’s hashrate, many of those machines are open sourced to counter the “secrecy and exclusivity” of large-scale Bitcoin miners, which usually use closed-source Bitcoin ASICs.
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