Solo CK Pool Miner Unearths BTC Block worth Over $230K

Solo CK Pool Miner Unearths BTC Block worth Over $230K

Miners at the Solo CK Pool are having a field day as another large Bitcoin block gets solved by a single miner.

BTC mining has seen a large increase in popularity, especially in places with vast amounts of electricity or minimal regulatory measures on mining crypto. With that being said, miners with small rigs are getting quite lucky in the past couple of weeks, making thousands of dollars in one sweep.

Based on the tweet by Con Kolivas, who is the developer of the Solo CK mining pool, one single miner managed to snatch 6.25 BTC, which is approximately $231K. The miner had a much smaller than average hashrate of 86 TH/s that can barely compete with an AntMiner S9.

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Hash rates basically show how fast the mining rig can solve data that is encrypted into the Bitcoin blocks. The average hash rate over the past 24 hours was 188 TH/s.

In fact, Con Kolivas added that users who mine on solo pools are more likely to solve large BTC blocks if more solo miners join the party. This happens because blocks are easier to solve if a large group of people are attempting to validate them. 

Blocks are essentially strings of data or crypto transactions that get stored on the blockchain. Miners help decode these transactions in order to maintain the Bitcoin blockchain network and get rewarded for their efforts.

This has been the third large BTC block solved by a single miner on the CK Pool in a matter of weeks. One miner solved a block on January 11th, the other - on January 12. Both miners got the same reward of 6.25 BTC.

Dom Z. - Crypto Analyst

by Dom Z. - Crypto Analyst, BitDegree