Evening
So interestingly, yet another solo bitcoin miner mined a new block on the chain to earn a whooping mining reward of 6.25 BTC worth over $220,000 at current price. The fortunate mining event happened at a block height of 720,175 on Monday.
Solo miners attempts to solve Bitcoin block single handedly. This solo mining strategy might turn out to be highly rewarding sometimes, but the odds of solving bitcoin block in an ever increasing difficulty environment are highly unlikely. To improve their odds of finding the mining block, miners come together in a pool, combining their computational power and share the rewards in case of success.
CKPool admin Con Kolivas announced the recent successful solo block mining and congratulated fortunate miner. The solo miner had a computation power of approximately 86 TH/s, which is even lesser than a single S9 miner.
Interesting, only about two weeks ago another solo miner from CKPool also solved a valid block with a small hash rate of only 126 TH/s. To clear things up CKPool is not a mining pool, instead it provides services to solo miners in managing the costs and technicalities of running a full time Bitcoin node.
With increasing number of solo miners getting lucky, more solo miners are gonna pour in to try their luck and who knows anyone of them might get lucky too. We can never tell!
