A solo Bitcoin miner has develop into the newest fortunate individual to win the “Bitcoin mining lottery,” pocketing a $347,455 block reward.
Bitcoin node infrastructure firm Umbrel mentioned the solo miner gained the block by way of the Public Pool Bitcoin mining pool — incomes the three.125 Bitcoin (BTC) block reward and a 0.016 BTC transaction price on prime.
It passed off at block peak 920,440, on Thursday at 7:32pm UTC, Mempool.area knowledge exhibits.
Whereas solo Bitcoin miners successful blocks isn’t unusual, this one was extra spectacular because the miner secured the block completely on their very own by operating a solo mining pool versus the extra widespread follow of pooling hash energy with others.
“No middlemen. No third-parties. Simply pure self-sovereignty in motion,” Umbrel mentioned, whereas the Bitcoin Bazaar X account added:
“A solo block has been mined by a solominer, mining on his personal mining pool, hosted on an Umbrel Server. Complete sovereignty. We want extra of this.”
Supply: Matthias
Solo Bitcoin mining is a win for decentralization
The rise in solo Bitcoin miners fixing blocks is an effective factor for Bitcoin’s decentralization because it offers smaller miners a greater probability to compete in opposition to the massive industrial-scale miners, a lot of that are publicly traded.
Pocket-sized Bitcoin miners are nonetheless cheaper than iPhones
It comes amid an increase in smaller-sized Bitcoin miners, akin to Bitaxes lately, which promote from $155 to over $600, relying on the machine’s terahash-per-second capability.
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Whereas the pocket-sized machines mixed solely contribute a small enhance to Bitcoin’s hash price, many of those machines have been open-sourced to battle the “secrecy and exclusivity” of bigger Bitcoin miners, which usually use the closed-sourced Bitcoin ASICs, a BitMaker spokesperson instructed Cointelegraph in 2023.
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