Individual ETH miner hits jackpot with $540K block reward

Individual ETH miner hits jackpot with $540K block reward

An individual miner defied the odds and managed to collect 168 ETH from a solo mining pool this week worth 42 times the average block reward. An individual Ether (ETH) miner struck it big by mining a block on their own and receiving a reward valued at about $540,000. The miner was operating through the 2miners Ethereum SOLO pool on Jan. 17 when they mined an entire block and received 168 ETH. That reward vastly outstrips the per-block average reward of about 4 ETH according to BitInfoCharts.Adding to the remarkable nature of the reward is the size and hash power of the SOLO pool. It is....


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Solo Ethereum Miner Hits The Jackpot With 170 ETH For Mining A Block

A solo Ethereum miner has just gotten what could be described as the lucky break of a lifetime after mining a single ethereum block that netted them a reward that ran into the hundreds of thousands of dollars. While ethereum’s mining difficulty is not as high compared to bitcoin, it is still a difficult, energy and computationally intensive process that discourages the average person. However, a lot of solo miners remain in the ethereum ecosystem and continue to make a profit from their mining activities. Although not all of the miners get to mine a single block that delivers a reward with....

Ethereum's average and median transaction fee slip, lowest in six months

Ethereum's average transaction fees dropped by almost 73.3% just within a month — down to $14.17 from $53.03. The infamous transaction fees of the Ethereum (ETH) ecosystem underwent a decremental phase from Jan. 10 to record the lowest average and median fees of $14.17 and $5.67 — lowest since September 2021. Data from Blockchair shows that the average transaction fee of ETH in January was $53.03, which at its peak was $70.83 back in May 2021. Just within a month, the average fees saw an almost 73.3% decline as evidenced by the following chart.Additionally, the resultant median transaction....

Solo Bitcoin Miner With Only 116 TH Takes $265K Block Reward

The individual miner is the second in two days to take the full coinbase reward for himself after adding a valid block to the Bitcoin blockchain.

‘Bitcoin Rush’: Small-Time Solo Miners Strike Gold With Full BTC Blocks

Small-time bitcoin miners are making headlines for essentially hitting the jackpot by mining full blocks all on their own. In what has become a modern-day ‘gold rush’, bitcoin enthusiasts are now taking to booting up small USB miners will tiny hash rates to try their luck in what is eerily similar to buying lottery tickets. Among the miners who have rushed to this, a few have hit the ultimate prize. Solo Bitcoin Miner Gets Full Block In an unlikely event, a solo miner was able to mine a full bitcoin block with a low hash rate. This was made public by Dr. Kolivas, a software engineer that....

New Cornell Paper Suggests Mining Pools Will Shrink in Size

A newly published Cornell University paper suggests that Bitcoin mining pools should eventually become smaller in size. The author, Ittay Eyal, comes to this conclusion because he believes pools are incentivized to attack each other through a block withholding attack, making it risky to allow any unidentified miners to contribute to pooled mining. The paper, which is partly funded by the SWIFT Institute, examines the consequences of a block withholding attack in an environment with competing mining pools. In a block withholding attack, an individual miner makes it seem as if he is working....