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Tuesday, November 29, 2022
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    Solo Ethereum Miner Hits The Jackpot With 170 ETH For Mining A Block

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    A solo Ethereum miner has simply gotten what could possibly be described because the fortunate break of a lifetime after mining a single ethereum block that netted them a reward that bumped into the a whole lot of hundreds of {dollars}. Whereas ethereum’s mining issue will not be as excessive in comparison with bitcoin, it’s nonetheless a tough, vitality and computationally intensive course of that daunts the common particular person.

    Nevertheless, numerous solo miners stay within the ethereum ecosystem and proceed to make a revenue from their mining actions. Though not the entire miners get to mine a single block that delivers a reward with life-changing cash. Such is the case of the solo miner on this report after fixing a block that netted them about 170 ETH in rewards.

    Ethereum Miner Will get Over $500K Reward

    A report from BeInCrypto outlined the exercise of a solo ethereum miner that noticed an unbelievable block reward go to the miner. The miner who had discovered a block after which proceeded to mine it independently obtained a complete of 170.65 ETH in rewards for this. The worth of the ETH on the time it was rewarded was roughly $540,000 in rewards which went to this miner.

    Associated Studying | Altcoins Are Encroaching On Bitcoin’s Dominance On Digital Payments

    In comparison with the common reward per block mined in ethereum which is about $13,000, that is little question a powerful win for the miner, who has obtained what’s little question one of many highest block rewards on the community.

    Ethereum price chart from TradingView.com

    ETH value buying and selling south of $3,000 | Supply: ETHUSD on TradingView.com

    Mined on Monday January seventeenth, the miner obtained the spoils of their victory in a block that contained 236 transactions, all mined by a solo miner in about 9 seconds. Discovering and mining a block like this on the ethereum community is difficult and grows more and more more durable as extra miners arrange operations. Discovering one with a block reward of greater than 170 ETH is much more unlikely, making this akin to successful the lottery on the a part of the miner.

    Following With Bitcoin

    Though it may be tough for a solo miner to seek out and mine blocks all by themselves, receiving the complete reward, it isn’t remarkable that small-time miners have claimed such coveted experiences. This occurs throughout numerous blockchains and ethereum is not any exception.

    Associated Studying | American Rapper Lil Baby On Holding Bitcoin And Ethereum Over Fiat

    Bitcoin, which options arguably one of many highest mining difficulties, has seen occasions like these happen. Final week, Bitcoinist reported {that a} small-time bitcoin miner had overwhelmed the percentages to mine a block all by themselves. This netted them your entire block reward of 6.25 BTC, in addition to the transaction reward. In whole, the miner revamped $267,000 from that single block mined.

    The identical had additionally occurred a 12 months prior the place Dr. Kolivas, a software program engineer that helped develop the CGMiner, recalled {that a} small-time miner with a low hash rate had also been able to mine a block by themselves and obtained the complete block reward.

    Featured picture from Zipmex, chart from TradingView.com



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