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Solo Bitcoin Miner Beats the Odds, Scoring a $310k Jackpot on a Single Block
In a shocking turn of events, a solo Bitcoin miner has defied the odds and scored a staggering $310,000 in a single block. The unprecedented achievement marks a significant milestone for individual miners who have been facing an uphill battle due to the ever-increasing hash rate.
As reported by mempool.space, the unknown miner successfully mined block 883,181 on February 10th, containing a substantial 3.158 BTC per mempool. This accomplishment is even more remarkable considering that it appears they may have also mined another block in late January for a similar reward.
The remarkable feat is attributed to the alleged use of Bitaxe mining devices by this miner. These high-performance devices are specifically designed to cater to solo miners seeking to increase their chances of securing block rewards.
It’s worth noting that the odds were stacked against this miner, given Bitcoin’s rising hash rate, which has been on an upward trajectory since it hit a record high of 992 exahashes per second on February 2nd. The hash rate has since dropped to 752 exahashes per second. However, this development underscores the ever-evolving nature of cryptocurrency mining and the need for solo miners to adapt quickly.
As the price of Bitcoin experiences a 2% drop in the past 24 hours, with the king coin trading at $96,325, there are concerns that miner outflows could have a detrimental impact on the overall market. According to CryptoQuant, miner netflows have flipped negative and reached their lowest level in one month. This indicates that miners are selling more coins than they produce.
As Bitcoin struggles to reclaim the psychological $100,000 mark, a prolonged period of miner sales could hinder its ability to do so.
Source: ambcrypto.com
