As the US-Iran conflict continues for weeks, Bitcoin ($BTC) surged above $70,000 on the prospect of a ceasefire.
Bitcoin started the new week with gains, but war-related uncertainty is increasing.
While $BTC continues its volatile course, a single Bitcoin miner solved an entire Bitcoin block and earned the full block reward of $210,000.
An anonymous solo Bitcoin miner, mining through CKPool, which provides infrastructure for single miners, mined block 943,411, earning the full block reward (approximately $210,000, or 3,139 $BTC in total). This amount includes a 3,125 $BTC subsidy and 0.014 $BTC in transaction fees.
The miner’s hash rate is only 230 TH/s, representing just ~0.00002% of the total Bitcoin network hash rate.
CKpool developer Con Kolivas stated that with this type of setup, the probability of a miner discovering a block on any given day is approximately 1 in 28,000.
“Congratulations to the miner who solved the 312th solo block at solo.ckpool.org and earned ~230TH!”
The probability of a miner of this size solving a block is approximately 1 in 28,000 per day.
Bitcoin blocks are generated approximately every 10 minutes and are typically mined by the mining pools with the highest chance of receiving the block reward. The reward for successfully mining a block is currently 3,125 Bitcoin, following a halving event earlier this year.
*This is not investment advice.