Solo Ethereum Miner Hits The Jackpot With 170 ETH For Mining A Block
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 advantage 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 challenging, energy and computationally intensive process that discourages the average person.
However, a lot of solo miners remain in the ethereum ecosystem and continue more than ever to make a profit from their mining activities. Although not all of the miners get to mine a single block that delivers a advantage with life-changing funds. Such is the case of solo miner in this report after solving a block that nettedthethem about 170 ETH in rewards.
Ethereum Miner Gets Over $500K Reward
from analysis A BeInCryptoThe value of the ETH at the time it was rewardedthiswas roughly $540,000 in rewards which went to miner. 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
Related Reading | Altcoins Are Encroaching On Bitcoin’s Dominance On Digital Payments
Compared to the average advantage per block mined in ethereum which is about $13,000, this is no doubt an impressive win for the miner more than ever , who has what received is no doubt one of the highest block rewards on the network.
ETH price trading south of $3,000 | Source: ETHUSD on TradingView.com
As you may know, Finding and mining a block like onthisthe ethereum network is hard and grows increasingly harder as more miners set up operations. Finding one with a block gain of more than 170toETH is even more unlikely, making this akin winning the lottery on the part of the miner. 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.
Following With Bitcoin
Although it can be challenging for a solo miner to , and mine blocks all by themselvesdiscoverreceiving the full reward, it is not unheard of that small-time miners have claimed such coveted reports. This happens across various blockchains is ethereum and no exception.
Related Reading | American Rapper Lil Baby On Holding Bitcoin And Ethereum Over Fiat
in modern times Bitcoin, which features arguably oneseenof the highest mining difficulties, has 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. In fact, This netted them the entire block gain of 6.25 BTC, as well as the transaction benefit. In total, the miner made over $267,000 from that single block mined.
Thesame had also occurred a year prior where Dr. As you may know, 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
