Solo Bitcoin Miner With Only 126TH Secures USD 266,870 in Block Reward

Bitcoin Mining

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Ruholamin Haqshanas

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Ruholamin Haqshanas

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Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

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June 25, 2023

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A solo Bitcoin (BTC) miner with a hashrate capacity of just 126 terahashes per second (TH/s) has managed to successfully add a new block to the Bitcoin network, securing the BTC 6.25 block reward, which is worth over USD 266,870 at the current price rates.

As per data by Blockchain.com, the total bitcoin hash rate is currently at over 174 exahashes per second (EH/s). Therefore, the lucky miner maintained merely 0.000073% of that tally.

The miner is part of a solo mining pool dubbed Solo CK, which ranks 15th on the list of bitcoin mining pools with a total computing power of 410.96 petahash per second (PH/s), accounting for 0.23% share of the network, according to BTC.com.

Meanwhile, the miner has to pay a 2% fee to the pool, which is BTC 0.125 or around USD 5,337. 

The miner has also earned the transaction fee reward of some BTC 0.1 (USD 4,270).

“Congratulations to a bitcoin miner with only 126TH who solved a solo block on solo.ckpool.org,” Solo CK administrator, Con Kolivas, tweeted.

Prior to this, a Solo CK miner had mined a Bitcoin block on December 2, 2021, at block height 712,217. However, it is becoming increasingly rare for a solo miner to win a block race on the Bitcoin network.

“For the miner involved it’s a once in a lifetime chance. Last time a miner this small solved a block on my pool was only a year ago though. It’s usually larger miners that solve blocks statistically but there is no reason even the smallest miner can’t solve one,” Kolivas said.

At the time of writing, Foundry USA, the US-based Digital Currency Group company’s mining arm, is the world’s largest bitcoin miner in terms of hashrate, accounting for 18.5% of the entire Bitcoin hashrate. Other major mining pools include F2Pool, AntPool, and Poolin, each constituting 16.2%, 15.2%, and 12.5% of the Bitcoin hashrate, respectively.

At 8:49 UTC, BTC is trading at USD 42,699, having gone up 1.5% in a day and down 7% in a week.

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