Home Blockchain Solo Ethereum Miner Hits The Jackpot With 170 ETH For Mining A Block

Solo Ethereum Miner Hits The Jackpot With 170 ETH For Mining A Block

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A solo Ethereum miner has simply gotten what might be described because the fortunate break of a lifetime after mining a single ethereum block that netted them a reward that bumped into the lots of of 1000’s of {dollars}. Whereas ethereum’s mining issue is just not as excessive in comparison with bitcoin, it’s nonetheless a troublesome, power and computationally intensive course of that daunts the typical particular person.

Nevertheless, a number of solo miners stay within the ethereum ecosystem and proceed to make a revenue from their mining actions. Though not the entire miners get to mine a single block that delivers a reward with life-changing cash. Such is the case of the solo miner on this report after fixing a block that netted them about 170 ETH in rewards.

Ethereum Miner Will get Over $500K Reward

A report from BeInCrypto outlined the exercise of a solo ethereum miner that noticed an unimaginable block reward go to the miner. The miner who had discovered a block after which proceeded to mine it independently bought a complete of 170.65 ETH in rewards for this. The worth of the ETH on the time it was rewarded was roughly $540,000 in rewards which went to this miner.

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In comparison with the typical reward per block mined in ethereum which is about $13,000, that is little doubt a powerful win for the miner, who has acquired what’s little doubt one of many highest block rewards on the community.

Ethereum price chart from nftgamef.com

ETH value buying and selling south of $3,000 | Supply: ETHUSD on nftgamef.com

Mined on Monday January seventeenth, the miner bought the spoils of their victory in a block that contained 236 transactions, all mined by a solo miner in about 9 seconds. Discovering and mining a block like this on the ethereum community is tough and grows more and more tougher as extra miners arrange operations. Discovering one with a block reward of greater than 170 ETH is much more unlikely, making this akin to profitable the lottery on the a part of the miner.

Following With Bitcoin

Though it may be troublesome for a solo miner to seek out and mine blocks all by themselves, receiving the total reward, it’s not exceptional that small-time miners have claimed such coveted stories. This occurs throughout numerous blockchains and ethereum isn’t any exception.

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Bitcoin, which options arguably one of many highest mining difficulties, has seen occasions like these happen. Final week, Bitcoinist reported {that a} small-time bitcoin miner had crushed the percentages to mine a block all by themselves. This netted them all the block reward of 6.25 BTC, in addition to the transaction reward. In whole, the miner remodeled $267,000 from that single block mined.

The identical had additionally occurred a 12 months prior the place Dr. Kolivas, a software program engineer that helped develop the CGMiner, recalled {that a} small-time miner with a low hash fee had additionally been capable of mine a block by themselves and acquired the total block reward.

Featured picture from Zipmex, chart from nftgamef.com

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