One lucky bitcoin miner managed to mine a block on his own with simple equipment, and got a fortune as a reward. According to a miner who has followed the issue, the situation is likely to occur at around 1.5 million.
Bitcoin mining has kicked off this year with miners buzzing, as the activity returns to profit after the digital currency surged more than 20% in the first few weeks of January.
As a result, many miners have reverted to using their weaker hardware to work on network security.
A lucky bitcoin miner finds a block on his own and gets it
After the halving in 2020, it was released The bitcoin block reward is now 6.25 bitcoins. That is, with every unit registered at R$111,000, the miner gets R$695,000 as a reward.
And one miner started 2023 by being lucky enough to mine a block, according to Kun Colivas, director of Solo CkPool.
“Congratulations to miner 1CEmkQkgiCMx6DHSDkHi53mL8oEthCZSw with only the 10th to solve a single block at http://solo.ckpool.org.”
Congratulations to miner 1CEmkQkgiCMx6DHSDkHi53mL8oEthCZSw with only the 10th to solve a single block at https://t.co/UWgBvLkDqc! https://t.co/0O7A7KR4eu
-Doctor. Con Colivas (@ckpooldev) January 20, 2023
To find a valid block, a miner fights against time to find a mathematical calculation before the other miners. That is, those with more equipment tend to have more computational power to carry out the activity with priority.
to ColivasThe computational power of a miner who finds a block on his own makes this a rare occurrence, a kind of unique luck.
“A miner of this size has to find a block on their own once every 500 years due to the current difficulty of bitcoin, making this a once-in-a-lifetime lucky event for them.”
It is worth remembering that in 2024 the new bitcoin halving must again halve the block reward. Thus, each new block will award a reward of only 3,125 BTCs. The community expects the halving to take place between April and May next year.
Difficulty finding a bitcoin block
At the beginning of January 2023, network difficulty, which miners used in their considerations to continue using connected equipment, reached a new historical limit.
Even after growth, the difficulty remains high, which indicates that it is not easy to find a block today, especially on your own.
According to data from BitInfoCharts, the current difficulty has decreased from the maximum, but is still close, indicating that miners are benefiting from the rise in the price of Bitcoin.
However, not all miners manage to make a profit even in the midst of a small rally. A recent study, shared by Binance, indicates that some equipment is waiting for a $23,000 Bitcoin price quote to return to profit.