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.
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.
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