A 'Once-in-300-Year Opportunity Struck'...A 3.128 BTC Bitcoin Jackpot with an 'Old Mining Rig'

▲ Bitcoin (BTC), cryptocurrency mining/ChatGPT generated image

An unusual event occurred where a solo miner succeeded in mining a Bitcoin block against slim odds, acquiring approximately 3.128 BTC exclusively.

According to reports on April 9 (local time), a solo miner using a single rig successfully mined block 944306 on the Bitcoin network. The reward totals 3.128 BTC, including a block reward of 3.125 BTC and a fee of 0.003 BTC, amounting to approximately 220,000 USD.

This mining was achieved through CKPool's solo mining method. Unlike traditional pool mining where multiple miners share rewards, this method allows an individual to take the entire reward if they find a block. However, its characteristic is an extremely low success rate.

In fact, the miner reportedly used a computational power of approximately 70 terahashes (TH/s). This is only about 0.0000069% of the total network hashrate, making the probability of finding a block in a day approximately 1 in 100,000. On average, it is estimated to be an event that occurs once every 300 years.

Notably, the equipment used is an old ASIC mining rig, released in 2019, which has almost no competitiveness compared to the colossal facilities used by large mining companies today. Nevertheless, this single success, claiming the entire reward, is drawing attention as a 'David beats Goliath' case.

The mining market has recently been rapidly reorganizing around large mining pools. Major mining companies have seized a significant portion of the total hashrate, drastically reducing the proportion of individual miners. This incident, occurring in such an environment, is considered a symbolic event demonstrating that Bitcoin's decentralized structure is still functioning.

However, from an economic perspective, skepticism still prevails. Due to increasing mining difficulty and decreasing rewards, solo mining is a low-profitability structure in the long run. Nevertheless, some participants continue solo mining for the possibility of 'lottery-like rewards' and the meaning of network participation.

This case, while statistically extremely rare, is expected to be recorded as a clear instance demonstrating that the Bitcoin network is not entirely subservient to any particular entity.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*