Another lucky Solo Bitcoin miner wins the grand prize, receiving a reward of $371,000!!!

Ding ding ding

On Sunday, a Bitcoin miner overcame great difficulties to solve an entire block and received all the subsidies and transaction fee rewards.

This unnamed miner processed Bitcoin block 910,440. The block contained 4,928 transactions, and the miner earned 3.125 BTC, as well as a fee of 0.012 BTC. Based on the price of Bitcoin at the time, this reward exceeded $371,000.

This lucky winner was confirmed to have used Solo CK, a non-profit service that allows Bitcoin miners to attempt solo mining. By using Solo CK, the miner paid a certain fee but avoided the overhead costs required to operate high-end Bitcoin mining machines.

Due to the gradual increase in network difficulty and the volatility of Bitcoin prices, mining has become increasingly difficult. Miners often need to sell Bitcoin to cover operational costs.

As Bitcoin's hash rate is predominantly dominated by large industrial-scale mining operations, the chances of an individual miner successfully solving a block are extremely low.

CryptoQuant data shows that as of the time of writing, the mining difficulty of the Bitcoin network has reached 1.29 trillion, lingering near historical highs. It is noteworthy that this difficulty has been continuously adjusting and has steadily increased over time.

However, with efficient hardware, even smaller participants can, in rare cases, receive the same block rewards.

This year, several independent miners with smaller scale equipment have overcome numerous difficulties to independently verify block rewards. One successfully solved a block in February, while another received a reward of $326,000 on June 6. On July 27, another independent miner mined a block alone in July, earning a substantial reward of $349,000.

Since reaching an all-time high of $124,000 earlier this month, Bitcoin has fallen more than 7%, dipping below the $115,000 mark.