Solo Miner Strikes Gold: Unprecedented Bitcoin Block Mined Amid Giants Production Decline

On July 4, a solo miner successfully mined block #903,883 in the network of the first cryptocurrency, earning a reward of 3.173 BTC (approximately $348,948).

The participant utilized the CKpool platform, mining with a hashrate of 2.3 PH/s.

CKPool’s administrator, Con Kolivas, congratulated the miner and stated that the odds of such an occurrence are about 1 in 2,800 per day.

Typically, a miner with this level of power can expect to find a block once every eight years.

This solo miner’s achievement comes amid a decline in production among major public companies. Riot Platforms, Cipher Mining, and MARA Holdings have reported decreased output in June, largely due to strategic cutbacks in Texas resulting from high electricity prices during the summer months.

Riot Platforms produced 450 BTC, reflecting a 12% decrease from the previous month. MARA Holdings reported a 25% drop with a total of 211 BTC mined. The company also cited weather conditions and the temporary use of outdated equipment as contributing factors.

Cipher Mining announced the mining of 160 BTC, attributing this to a “proactive strategy” for avoiding peak tariffs.

In contrast, CleanSpark bucked this trend by increasing its Bitcoin production by 6.7%, reaching a total of 445 BTC. The company also achieved its hashrate target of 20 EH/s.

It is worth mentioning that on March 10, another solo miner mined block #887,212, earning around $250,000 using a device that cost $299.

On June 5, another solo miner received $330,386 for confirming a Bitcoin block.