Solo Bitcoin Miners Defy the Odds as Block Rewards Keep Coming

Solo minors have challenged the ratings, successfully claiming complete rewards of Bitcoin blocks even if the Hashrate of Plane Network near all time.

To date, the hashrate of the Bitcoin network (BTC) oscillates around 902 exams per second (EH / S), just below its peak of all time, according to blockchain.com. The figure shows increasing competition and higher difficulties, which suggests that single minors are faced with steep chances to win a block.

However, last week, a minor solo challenged these dimensions, securing the 907 283 block via the Solo CK swimming pool and winning the full award of 3.125 BTC, worth $ 372,000 at the time. The minor also received $ 3,436 of additional transaction costs.

This victory was not an isolated event. Earlier in July, another minor with only 2.3 Petahashes of Power claimed a complete award of blocks, while similar victories were recorded in June, March and February.

“We see that solo minors winning blocks not because of luck, but because they work with powerful and effective equipment,” Samuel Li, asickey technology director, told Cintelegraph. He added that modern minors are built to provide “serious hashrate” without the massive draw for traditional configurations.

In relation: Solo Bitcoin Miner Scores $ 373,000

Development efficiency

For solo minors, the efficiency is everything, said Li. “Take our Keymin A1-it only draws 650 watts but delivers 1,100 TH / S on Bitcoin, with monthly profits of around $ 1,200. For those who diversify in altcoins, it can win up to $ 3800 per month of mining dash,” he noted.

Keymin A1 is part of the Asickey hardware line introduced last November, which also includes Keymin X and Keymin Pro.

According to the company, Keymin X delivers 2,300 terahash per second (TH / S) to 1,300 watts, while the pro model offers up to 5,800 TH / S to 2,800 watts. Under current market conditions, the company estimates monthly yields of up to $ 6,300 for the pro.

However, despite the improvements in the effectiveness of the integrated circuit specific to the application (ASIC), the “fundamental ratings [of solo miners winning] I haven’t changed much, ”said Li.

“Solo extraction is still mainly a lottery, unless you control dozens of pH / s, which is realistic the strict minimum to have a measurable statistical shot in a reasonable time,” he added.

Li explained that in Bitcoin Network of today Hashrate, a minor with a Petahash (PH / S) of Hashpower has approximately 1 chance out of 650,000 to resolve a block every 10 minutes. Peta (pH / s) has 1,000 terra (th / s) has been chopped.

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Why do minors go solo?

Li confirmed that there had been a “modest resurgence” of interest in solo exploitation, but for different reasons. “Some minors choose it not for foreseeable income, but for the possibility of a great reward – 6.25 BTC plus costs – which can be transformer if won,” he noted.

While monetary incentives play a key role, some are motivated by ideological reasons, valuing the decentralization of the network and the ability to operate independently of centralized mining pools.

According to data from the Hashrate index, the Foundry of Pool Mines based in the United States USA continues to dominate Bitcoin exploitation, dominating 29.3% of the total hashrate. Antpool follows with 16.2%, while ViabTC and F2Pool hold 12.0%and 11.6%respectively.

If only one swimming pool (or a few swimming pools acting together) control more than 50% of the hashrate, they could theoretically launch an attack of 51%, which would allow them to double spending parts. Although rare and expensive, such an event would erode confidence in the network.