Solo Ethereum miner hits the jackpot with 170 ETH for mining a block

A single Ethereum miner might be described because the fortunate break of a lifetime after mining a single Ethereum block, which has rewarded them within the tons of of 1000’s of {dollars}. Whereas the mining issue of Ethereum will not be as excessive as that of Bitcoin, it’s nonetheless a tedious, vitality and computationally intensive course of that daunts the typical individual.

Nonetheless, many single miners stay within the Ethereum ecosystem and proceed to revenue from their mining actions. Nonetheless not all miners get a single block rewarded with life-changing cash. The case of a single miner on this report is after fixing a block that acquired them round 170 ETH in rewards.

Ethereum miner receives a reward of over $500K

A report from BeInCrypto outlined the exercise of a single Ethereum miner that noticed miners see an unbelievable block reward. The miner who acquired a block after which went into the mine independently acquired a complete reward of 170.65 ETH for it. On the time the ETH was rewarded, the worth of the prize was roughly $540,000 that went to this miner.

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In comparison with the typical reward per block mined in Ethereum, which is round $13,000, there isn’t a doubt that that is a formidable win for the miner, who has undoubtedly acquired one of many highest block rewards on the community.

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Mined on Monday 17 January, miners discovered their winnings loot in a block that contained 236 transactions, all mined by a single miner in about 9 seconds. Discovering and mining such blocks on the Ethereum community is tough and as extra miners arrange operations, it turns into harder. It’s much more unlikely to search out one with a block reward of greater than 170 ETH, making it akin to successful the lottery on the a part of the miner.

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Though it may be tough for a single miner to search out and block himself to obtain the complete reward, it isn’t unprecedented for small-time miners to assert such respected experiences. This occurs in numerous blockchains and Ethereum isn’t any exception.

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Bitcoin, which has arguably one of the crucial mining difficulties, has seen incidents like this. Final week, Bitcoinist reported {that a} small-time bitcoin miner had crushed the percentages to mine a block on his personal. This earned him a full block reward of 6.25 BTC in addition to a transaction reward. In complete, miners revamped $267,000 from that single block mined.

The identical occurred a yr in the past, the place Dr. Colivas, a software program engineer who helped develop cGminer, recalled that even a small miner with a low hash fee was in a position to mine a block on his personal. and acquired the complete block reward. ,

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