Mining a legitimate single BTC block is so rare that the event has only occurred 270 times out of 700,000 blocks created over the past 13 years.
A single bitcoin miner managed to mine the 780,112th block on the bitcoin blockchain, obtaining 6.25 bitcoins
BTC
notes down
$24,676
Block rewards in return. The estimated value of the payment is greater than $150,000.
The solo miner was also lucky enough to generate a valid hash after only two days of mining, as the event itself is rare, it can take months for a solo miner to generate a valid hash
The rare event happened on March 10 and was the 270th single mined block in Bitcoin’s 13-year history. The event is rare because a single miner of this size typically solves a block, on average, about once every 10 months. Miners have created a single mining pool using the Solo CK Pool mining service, for which they have created a valid block hash and are rewarded with 6.25 BTC, a fee of about 0.63 BTC.
Solo CK mining pool administrator Con Kolivas noted that the miner behind the rare event may have temporarily leased hashing power to produce the output hash.
Bitcoin mining requires miners to invest computing power to solve the next bitcoin block and add it to the network. But with the growing popularity of BTC mining and the ever-increasing web hashrates and powerful mining machines, it is almost impossible for a solo miner to solve the whole piece by himself
Related: How to Mine Bitcoin: A Beginner’s Guide to BTC Mining
Thus, a valid block hash is often produced using the computing power of multiple miners, all trying to mine the next block. The block reward is distributed according to the hash rate of each miner entering the mining space.
The Solo CK mining pool has been behind many single-mined bitcoin blocks in the past. Two of these single mined blocks came in just two weeks in January 2022, the first on January 11, 2022 at block elevation 718,124, followed by another on January 24 at block elevation 720,175.
