A solo Bitcoin miner has change into the newest fortunate individual to win the Bitcoin Mining Lottery and bag a $347,455 block reward.
Bitcoin node infrastructure firm Umbrel mentioned a solo miner acquired a block by way of a public pool Bitcoin mining pool, incomes a block reward of three.125 Bitcoin (BTC), plus a transaction charge of 0.016 BTC.
It occurred on Thursday at 7:32 pm (UTC) at a block top of 920,440, in line with Mempool.area information.
Whereas it's not unusual for solo Bitcoin miners to accumulate blocks, this one was extra spectacular as a result of the miner secured the blocks solely on their very own by working a solo mining pool, versus the widespread follow of pooling hashing energy with different miners.
“There aren’t any intermediaries. There aren’t any third events. Simply pure self-sovereignty at work,” Umbrel mentioned, including the Bitcoin Bazaar X account:
“Solo blocks are mined by solo miners in their very own mining swimming pools hosted on Umbrel servers. Full sovereignty. We want extra of this.”
sauce: Matthias
Solo Bitcoin mining is a victory for decentralization
The rise in solo Bitcoin miners fixing blocks is nice for Bitcoin decentralization as a result of it provides small miners a greater likelihood to compete with massive, industrial-scale miners, lots of that are publicly traded.
Pocket-sized Bitcoin miner nonetheless cheaper than iPhone
This comes amid the rise of small-scale Bitcoin miners in recent times, comparable to Bitaxes, which promote for wherever from $155 to greater than $600, relying on the machine's terahash/second capability.
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A BitMaker spokesperson instructed Cointelegraph in 2023 that whereas the mixture of pocket-sized machines contributes solely a small increase to Bitcoin's hashrate, many of those machines are open sourced to counter the “secrecy and exclusivity” of large-scale Bitcoin miners who sometimes use closed-source Bitcoin ASICs.
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