Solo Ethereum Miner Hits The Jackpot With 170 ETH For Mining A Block
January 19 2022 - 12:00PM
NEWSBTC
A solo Ethereum miner has just gotten what could be described as
the lucky break of a lifetime after mining a single ethereum block
that netted them a reward that ran into the hundreds of thousands
of dollars. While ethereum’s mining difficulty is not as high
compared to bitcoin, it is still a difficult, energy and
computationally intensive process that discourages the average
person. However, a lot of solo miners remain in the ethereum
ecosystem and continue to make a profit from their mining
activities. Although not all of the miners get to mine a single
block that delivers a reward with life-changing money. Such is the
case of the solo miner in this report after solving a block that
netted them about 170 ETH in rewards. Ethereum Miner Gets Over
$500K Reward A report from BeInCrypto outlined the activity of a
solo ethereum miner that saw an incredible block reward go to the
miner. The miner who had found a block and then proceeded to mine
it independently got a total of 170.65 ETH in rewards for this. The
value of the ETH at the time it was rewarded was roughly $540,000
in rewards which went to this miner. Related Reading
| Altcoins Are Encroaching On Bitcoin’s Dominance On Digital
Payments Compared to the average reward per block mined in ethereum
which is about $13,000, this is no doubt an impressive win for the
miner, who has received what is no doubt one of the highest block
rewards on the network. ETH price trading south of $3,000 | Source:
ETHUSD on TradingView.com Mined on Monday January 17th, the miner
got the spoils of their victory in a block that contained 236
transactions, all mined by a solo miner in about 9 seconds. Finding
and mining a block like this on the ethereum network is hard and
grows increasingly harder as more miners set up operations. Finding
one with a block reward of more than 170 ETH is even more unlikely,
making this akin to winning the lottery on the part of the miner.
Following With Bitcoin Although it can be difficult for a solo
miner to find and mine blocks all by themselves, receiving the full
reward, it is not unheard of that small-time miners have claimed
such coveted reports. This happens across various blockchains and
ethereum is no exception. Related Reading | American Rapper
Lil Baby On Holding Bitcoin And Ethereum Over Fiat Bitcoin, which
features arguably one of the highest mining difficulties, has seen
events like these take place. Last week, Bitcoinist reported that a
small-time bitcoin miner had beaten the odds to mine a block all by
themselves. This netted them the entire block reward of 6.25 BTC,
as well as the transaction reward. In total, the miner made over
$267,000 from that single block mined. The same had also occurred a
year prior where Dr. Kolivas, a software engineer that helped
develop the CGMiner, recalled that a small-time miner with a low
hash rate had also been able to mine a block by themselves and
received the full block reward. Featured image from Zipmex, chart
from TradingView.com
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