A solo miner achieved a significant breakthrough on Thursday by earning a BTC reward valued at over $225,000 after solving a Bitcoin block. This victory occurred just one week following the last reported solo success, demonstrating that individual miners can still triumph despite daunting odds.
The miner had approximately 0.001% chance of completing this task with their mining hash power of 70TH, which constituted merely 0.00000667% of the entire Bitcoin network’s computational strength.
“A miner at this scale has only a 1 in ~100,000 chance of solving a block daily, or once every 300 years!” stated pseudonymous CKPool developer Dr-ck on X.
Bitcoin mining involves miners competing to solve cryptographic puzzles that secure the blockchain by linking transaction blocks. Upon solving these puzzles and discovering a block, the successful miner receives a reward—currently set at 3.125 BTC, though this amount halves approximately every four years.
Dr -ck (@ckpooldev) commended the solo miner bc1q~edvj on their accomplishment: “Congratulations to miner bc1q~edvj with only 70TH for solving the 313th solo block! A miner of this size has only a 1 in ~100,000 chance of solving a block per day, or once every 300 years!”
While mining operations typically dominate block discoveries, occasionally smaller solo miners achieve significant wins. This latest success follows another CKPool service user who mined a Bitcoin block and earned around $210,000 just one week prior.
That previous miner used over three times the computational power of Thursday’s winner, yet still represented a minor fraction of the network’s total hash rate, which has increased by nearly 15% in the last day according to BitInfoCharts data.
Despite challenging odds for smaller miners, this marks CKPool’s 313th solo block discovery. The service allows users to mine Bitcoin without needing to run full nodes independently, enabling participation with less hardware or efficiency but relying on CKPool’s resources.
Participants pay a 2% fee to CKPool upon finding a block, retaining the majority of their crypto reward.
Bitcoin has risen by 1.2% in the past 24 hours, trading recently at $72,094. The leading cryptocurrency by market cap is now about 43% below its all-time high of $126,080, reached last October.