With this “mini farm”, another miner alone received a reward of more than 6 bitcoins

Bitmain launches new Bitcoin miner with liquid cooling system

Key facts:
  • It is the third case in less than a month, and this is the one with the least mining power.

  • In total, the miner obtained 6.56 BTC in block 720,175 of the Bitcoin network.

Another miner did. In less than a month, there are already three who alone take the entire reward of a Bitcoin block: 6.25 newly mined bitcoins (BTC) plus the transaction fees paid by network users in block 720,175.

To the 6.25 BTC reward that each block currently generates, another 0.31 BTC was added for the commissions of the block. That is, at the current price of the cryptocurrency, the 6.56 bitcoins earned by this lone miner equals about $222,000.

On this occasion, the awarded miner after finding the new block used even less processing power than its predecessors: just 86 TH/s, according to data posted via Twitter by developer Con Kolivas, creator of the Solo CK mining pool, to which the lucky miner is connected. The other recently awarded miners had, respectively, 126 TH/s and 116 TH/s.

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With this "mini farm", another miner alone received a reward of more than 6 bitcoins

The person operating the equipment involved in this feat emerged from anonymity, unlike those who have previously achieved it. Kolivas himself manifested on the social network, where he shared an image of the “mini farm” that managed to get hold of the more than 200,000 dollars in BTC.

With so little mining power, it is virtually impossible to solve a Bitcoin block, with the current difficulty of the network. In fact, that is why it has become the most common practice to join mining pools (the pools) in which the processing power and profits are shared among the members of that group.

The case of Solo CK, to which this and the two miners who recently achieved the feat belong, is different: the miners combine their mining power, but The one who finally solves the block gets the full reward. Barely 2% goes to the pool, to guarantee its operation. The rest of the miners do not get anything, so participation in said pool is practically a lottery.

chasing the dream

As Kolivas had previously stated could happen, recent exploits have been inspiring to new miners looking to the dream of earning for himself the reward of a Bitcoin block.

“There are now a lot more miners in the solo pool and if enough people are solo mining someone will eventually be the lucky one like here,” the developer wrote on Twitter.

In addition, Kolivas reflected on the mining of the Bitcoin network and clarified that what has happened in recent weeks with the so-called “lone miners” does not in any way represent a failure of Bitcoin and its Proof of Work (PoW) mining method.

“To be clear, this is not a sentinel event, there is nothing wrong with proof of work, bitcoin is not broken, my solo mining service does not have a backdoor to resolve blocks faster. With enough miners mining, someone eventually solves a block, and it can be any size miner.”

With Kolivas, developer of the Solo CK pool.

Having happened for the third time in such a short time, this modality may attract new miners in the future. Before, it was possible to mine even with personal computers or mobile phones, but now dedicated equipment or ASICs are required, which are more expensive to buy and maintain. Will miners be willing to sacrifice guaranteed rewards by joining a traditional pool, in order to win the “lottery”?

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