A solo miner hit the jackpot by mining block 883181 with a reward of 3,125 BTC worth $307,547.
According to the famous Bitcoin-miner Marshall Long, his lucky competitor could use Bitaxe. It is an open-source project that can be used for solo mining or pool mining. Here, participants combine their computing power to increase their chances of mining a block.
As data from the YCharts platform shows, hashrate currently stands at 788,86 million, down 0,81% from 795,29 million as of February 9, but up 53% from a year ago.
Higher hashrate forces miners to use more computing power. This increases electricity costs and verification and transaction times, making it difficult for solo miners to work. That’s why they rarely manage to form blocks on their own.
Large mining companies like Bit Digital, Riot Blockchain, and MARA Holdings typically form the majority of blocks because each of them has so much power. For example, MARA reported that it mined 249 bitcoins in January, which is still 12% less than in December 2024.