Bitcoin miner hits jackpot with $300K reward snagged solo

A solo Bitcoin (CRYPTO:BTC) miner successfully mined block 883,181 on February 10, securing a reward of 3.125 Bitcoin, valued at over $300,000.

According to Mempool.space, the block contained 3,071 transactions and a total reward of 3.15 BTC.

Bitcoin's price has since risen, trading at $98,475.33.

Marshall Long speculated on X that the miner may have used an implementation of CKPOOL, possibly a Bitaxe device, for solo or pool mining.

These devices combine computational power to increase block-solving chances.

Solo mining is rare due to the high hashrate, which currently stands at 788.86M, down 0.81% from February 9 but up over 53% year-over-year.

A higher hashrate increases computing power, energy costs, and transaction times.

Major mining firms typically dominate block validation.

The event was highlighted by Crypto Briefing on X, noting the rare nature of solo mining successes.

The event coincided with a crypto market recovery following President Trump's announcement of tariffs on aluminum and steel.

Bitcoin has since crossed back over $98,000, up 1.22% in the last 24 hours, but it has yet to reach its all-time high.

Bitcoin briefly surged above $109,000 on January 20, ahead of Trump's inauguration, with the previous all-time high recorded on December 17, 2024, at over $108,000.

“These stories are rare but prove that solo mining can lead to big rewards if you're dedicated,” ECOS commented.

Satoshi Nakamoto's white paper established a 21 million Bitcoin limit, with the Blockchain Council reporting that over 19 million Bitcoins have already been awarded to miners.

In a similar event in January, a solo miner received $326,301 for processing block 881423, earning 3.15 BTC.

At the time of reporting, the Bitcoin (BTC) price was $98,434.52.