Solitary Cryptocurrency Prospector Discovers Bitcoin Block, Amasses Riches
In a testament to the decentralized nature of the Bitcoin network, a lone miner named Foundry USA successfully solved Bitcoin block #910,440. This achievement, which occurred earlier this year, serves as a reminder of the importance of independent mining in the Bitcoin ecosystem and demonstrates that perseverance can still lead to success in Bitcoin mining.
Foundry USA, who had been successful at least once in the previous period, managed to mine the block containing over 4,900 transactions. The total fees for these transactions amounted to 0.012 BTC, equivalent to around $1,450 at the time of extraction. The miner received a reward of 3,137 BTC for solving the block, a value of approximately $371,000 at the time. In total, the block reward, including fees, reached 3,137 BTC.
The event shows that the Bitcoin network still allows individual actors to have a voice. Con Kolivas, a CKpool platform developer, stated that the probability of a solo miner solving a Bitcoin block is roughly 1 every 8 years on average. Solo mining in the Bitcoin network is considered a "statistical lottery."
Despite the challenges and the immense global computing power for Bitcoin mining currently exceeding 987.24 EH/s, cases like this one demonstrate that there's still room for decentralization and individual initiative on the Bitcoin network. In fact, so far this year, at least seven solo miners have managed to solve complete Bitcoin blocks on their own.
The successful mining of block #910,440 serves as a reminder of the ongoing potential for individual miners in the Bitcoin network. As the digital currency continues to evolve, it's clear that perseverance and individual initiative can still lead to significant rewards.
