Saturday, July 20, 2024
HomeBTCThis famous cryptocurrency hit a jackpot

This famous cryptocurrency hit a jackpot

A lone Ether (ETH) miner hit the jackpot when he mined a block on his own and received a reward of about USD 540,000. This reward value is 42 times the usual block reward to the usual miner. On Jan 17, he got 168 ETH using the 2miners Ethereum SOLO pool.

The amount of computer processing power that a device gives to a Proof-of-Work blockchain such as ETH or BTC is known as Hash power. Greater hashpower will lead to secured transaction and mining blocks.

The size of the pool is small with 854 miners. The hash power of SOLO is 1.5 Tera hash per second, the average miner contributes 1.85 Giga hash per second.

On Jan 11,  BTC miner from Solo CK earned 6.25 BTC for mining the full block lonesome.

Two days later, a fresh block of BTC was mined by another solo miner with only one to three rings.

Each miner has a one-in-a-million chance of mining a complete block. The probability of two miners is one in a billion for the same week.

According to BitInfoCharts, the average profit is presently about USD 0.0474. This is due to EIP-1559, which consumes fees instead of transferring them to miners. Research shows that the average daily profitability of Ethereum mining has been declining from an all-time high of USD 0.282 on May 12, 2021. 



Please enter your comment!
Please enter your name here

four × 5 =

- Advertisment -

Most Popular