A solo miner mined Bitcoin block 912632, earning ~$340K.

[The Cryptovator]

Noticed from Cointelegraph, a solo miner mined Bitcoin block 912632 and almost earned $340K. It's quite surprising to me, though, but the solo miner successfully managed to mine an entire block and was fully rewarded. I don't know if the miner had a lot of hash power or if he is really lucky. It's kind of a twist in Bitcoin mining history, even though it's technically possible but very rarely happens. I haven't heard previously, or I wasn't witness to such a story.



Image Source: Cointelegraph

Usually most of the Bitcoin blocked has been mined by the mining pool; those are combined hash powers from a group of miners or by mining firms. But it's exceptional that a solo miner solved an entire block, because there is a lot of competition nowadays in the mining sector.

Do you think the solo miner is lucky, or does he have something special to increase the hash rate?

[Karl_3000]

Noticed from Cointelegraph, a solo miner mined Bitcoin block 912632 and almost earned $340K. It's quite surprising to me, though, but the solo miner successfully managed to mine an entire block and was fully rewarded.

Do not mind this what Cointelegraph is publishing, solo miners are always mining blocks.

These are some of the recent blocks mined by solo miners:

912975
912935
912850
912841

All these blocks were mined after the one that you are talking about. It has always been like this if you go through the previous blocks.

[NotFuzzyWarm]

Old news... It was a very large rental on solo.ckpool a 2 days ago. https://bitcointalk.org/index.php?topic=5237323.msg65756404#msg65756404 As said before, it is NOT exactly a rare event.

[FP91G]

There is a post in the Russian local board:
"The solo miner mined bitcoins on equipment with a capacity of 61 Ph/s - this is about 300 modern mining devices"
https://bitcointalk.org/index.php?topic=5501142.msg65758736#msg65758736
This miner played a very expensive lottery.
The electricity costs for such equipment are very expensive.

[Mia Chloe]

Noticed from Cointelegraph, a solo miner mined Bitcoin block 912632 and almost earned $340K. It's quite surprising to me, though, but the solo miner successfully managed to mine an entire block and was fully rewarded. I don't know if the miner had a lot of hash power or if he is really lucky.
Do you think the solo miner is lucky, or does he have something special to increase the hash rate?

Yeah it rarely happens but that doesn't mean it can't happen. There have been many occasions where solo miners were able to get a block reward and it was even more reoccurring back when the general difficulty was way lower and block reward was bigger compared to now.

What bigger hash rates do is give you a larger computational power to solve the block header and get the rewards faster compared to other miners so technically speaking  bigger hashrates increase your chances but don't really guarantee you'll get it solved first since it's based on randomization. So those solo miners we basically lucky guys.

[FP91G]

I'm very curious about this miner's motives.
With that hashrate, his revenue is $3,500 a day. I don't know his expenses, but I wouldn't mine solo if I were him. Maybe he tried for a couple of days and got lucky

[TheUltraElite]

This is similar to hitting a lottery and is a wet dream of many miners out there. I would never recommend anyone to do this because the cost of setting up equipment and the cost of electricity, maintenance for being able to the run the rigs for a time by which a block gets mined solo under their wing will be end up being much higher than the return.

Much like gambling away more than you what you get back on hitting a jackpot.

But they do make the news, hence reality check should also be done.