Solo Bitcoin miner hits jackpot with $200,000 block reward

Another solo miner has managed to process a block in the largest crypto network – and pocketed $3,275 in the process. Bitcoinor just under 200,000 US dollars as a reward.

The lucky miner processed block number 858,978 at 12:21 p.m. Eastern Time. after to blockchain data. A total of 2,391 transactions were included in the block and the miner received $199,094 worth of bitcoins for his work.

Bitcoin mining is the business of processing blocks on the Bitcoin network. Blocks are full of data and are part of the cryptocurrency's blockchain – a highly secure ledger that contains transparent information about transactions.

As blocks are processed, miners are rewarded with newly minted bitcoins. But it's a difficult process: mining has become more difficult over the years as the network has grown and become more secure.

And the miners now receive less BTC as a reward for their efforts. In April, the Bitcoin protocol four-year halving Event where miner rewards were cut from 6.25 Bitcoins to 3.125.

Today, mining companies are typically corporations that run their operations out of warehouses full of expensive, specialized machinery, which often gives them an advantage over individual mining companies.

Sometimes, however, a single miner can get lucky – although this is becoming increasingly rare. Last month, another solo miner hit the jackpot by solving a block and taking home a $200,000 reward.

Edited by Andrew Hayward