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A solo bitcoin miner has made headlines by successfully mining block number 858,978 on the bitcoin blockchain, earning a reward of 3,275 btc, valued at $199,098 at the time. The block, mined earlier today, contained 2,391 transactions, according to the blockchain. data.
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BREAKING: A solo miner has just mined a block worth 3,275 twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin for a value of $199,098.
LEGEND photo.twitter.com/rqscP29dud
— bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1829198050876969010?ref_src=twsrc%5Etfw”>August 29, 2024
bitcoin mining is the process by which new bitcoins are introduced into circulation. It typically involves using powerful computers to solve complex mathematical problems, which verify and add transactions to the blockchain. In return, miners receive newly minted bitcoins, known as a block subsidy, along with transaction fees paid by users.
The miner's achievement is significant, given the increasingly competitive landscape of bitcoin mining, where large mining pools often dominate. Solo miners face the challenge of competing against large, resource-rich mining pools; however, while rare, the rewards can be substantial, as demonstrated by this and many previous solo miner successes.
“Congratulations to miner 36AisvWi1UiwLTeTZxLzindAkorqeUc3tT for solving solo block 291 on solo.ckpool.org!” x.com/ckpooldev/status/1829271333357928638″>saying Solo CK admin Dr. Con Kolivas: “This powerful miner with 38PH would solve a block on average once every ~4 months.”
This solo miner's achievement also serves as a reminder of the decentralized nature of bitcoin, where anyone with the right resources can contribute to and benefit from the network.
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