{"id":481540,"date":"2022-01-19T17:00:36","date_gmt":"2022-01-19T17:00:36","guid":{"rendered":"https:\/\/uniquehot.com\/?p=481540"},"modified":"2022-01-19T15:58:47","modified_gmt":"2022-01-19T15:58:47","slug":"solo-ethereum-miner-hits-the-jackpot-with-170-eth-for-mining-a-block","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/solo-ethereum-miner-hits-the-jackpot-with-170-eth-for-mining-a-block\/","title":{"rendered":"Solo Ethereum Miner Hits The Jackpot With 170 ETH For Mining A Block"},"content":{"rendered":"

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\u2019s mining difficulty is not as high compared to bitcoin, it is still a difficult, energy and computationally intensive process that discourages the average person.<\/p>\n

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 life-changing money. Such is the case of the solo miner in this report after solving a block that netted them about 170 ETH in rewards.<\/p>\n

Ethereum Miner Gets Over $500K Reward<\/h2>\n

A report from BeInCrypto<\/a> outlined the activity of a solo ethereum miner that saw an incredible block reward go to the miner. The miner who had found a block and then proceeded to mine it independently got a total of 170.65 ETH in rewards for this. The value of the ETH at the time it was rewarded was roughly $540,000 in rewards which went to this miner.<\/p>\n

Related Reading |\u00a0Altcoins Are Encroaching On Bitcoin\u2019s Dominance On Digital Payments<\/a><\/strong><\/em><\/p>\n

Compared to the average reward per block mined in ethereum which is about $13,000, this is no doubt an impressive win for the miner, who has received what is no doubt one of the highest block rewards on the network.<\/p>\n

\"Ethereum<\/p>\n

ETH price trading south of $3,000 | Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Mined on Monday January 17th, the miner got the spoils of their victory in a block that contained 236 transactions, all mined by a solo miner in about 9 seconds. Finding and mining a block like this on the ethereum network is hard and grows increasingly harder as more miners set up operations. Finding one with a block reward of more than 170 ETH is even more unlikely, making this akin to winning the lottery on the part of the miner.<\/p>\n
Following With Bitcoin<\/h2>\n
Although it can be difficult for a solo miner to find and mine blocks all by themselves, receiving the full reward, it is not unheard of that small-time miners have claimed such coveted reports. This happens across various blockchains and ethereum is no exception.<\/p>\n
Related Reading |\u00a0American Rapper Lil Baby On Holding Bitcoin And Ethereum Over Fiat<\/a><\/strong><\/em><\/p>\n
Bitcoin, which features arguably one of the highest mining difficulties, has seen events like these take place. Last week, Bitcoinist reported<\/a> that a small-time bitcoin miner had beaten the odds to mine a block all by themselves. This netted them the entire block reward of 6.25 BTC, as well as the transaction reward. In total, the miner made over $267,000 from that single block mined.<\/p>\n
The same had also occurred a year prior where Dr. Kolivas, a software 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<\/a> and received the full block reward.<\/p>\n
Featured image from Zipmex, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
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\u2019s 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 life-changing money. Such is the case of the solo miner in this report after solving a block that netted them about 170 ETH in rewards. Ethereum Miner Gets Over $500K Reward A report from BeInCrypto outlined the activity of a solo ethereum miner that saw an incredible block reward go to the miner. The miner who had found a block and then proceeded to mine it independently got a total of 170.65 ETH in rewards for this. The value of the ETH at the time it was rewarded was roughly $540,000 in rewards which went to this miner. Related Reading |\u00a0Altcoins Are Encroaching On Bitcoin\u2019s Dominance On Digital Payments Compared to the average reward per block mined in ethereum which is about $13,000, this is no doubt an impressive win for the miner, who has received what is no doubt one of the highest block rewards on the network. ETH price trading south of $3,000 | Source: ETHUSD on TradingView.com Mined on Monday January 17th, the miner got the spoils of their victory in a block that contained 236 transactions, all mined by a solo miner in about 9 seconds. Finding and mining a block like this on the ethereum network is hard and grows increasingly harder as more miners set up operations. Finding one with a block reward of more than 170 ETH is even more unlikely, making this akin to winning the lottery on the part of the miner. Following With Bitcoin Although it can be difficult for a solo miner to find and mine blocks all by themselves, receiving the full reward, it is not unheard of that small-time miners have claimed such coveted reports. This happens across various blockchains and ethereum is no exception. Related Reading |\u00a0American Rapper Lil Baby On Holding Bitcoin And Ethereum Over Fiat Bitcoin, which features arguably one of the highest mining difficulties, has seen events like these take place. Last week, Bitcoinist reported that a small-time bitcoin miner had beaten the odds to mine a block all by themselves. This netted them the entire block reward of 6.25 BTC, as well as the transaction reward. In total, the miner made over $267,000 from that single block mined. The same had also occurred a year prior where Dr. Kolivas, a software 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 received the full block reward. Featured image from Zipmex, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":481542,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,85237,1946,85238,8202,2990],"class_list":["post-481540","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-eth-miner","tag-ethereum","tag-ethereum-miner","tag-ethereum-mining","tag-mining"],"acf":[],"yoast_head":"\nSolo Ethereum Miner Hits The Jackpot With 170 ETH For Mining A Block<\/title>\n<meta name=\"description\" content=\"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\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/uniquehot.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Solo Ethereum Miner Hits The Jackpot With 170 ETH For Mining A Block","url":"http:\/\/uniquehot.com\/news\/ethereum\/solo-ethereum-miner-hits-the-jackpot-with-170-eth-for-mining-a-block\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum\/solo-ethereum-miner-hits-the-jackpot-with-170-eth-for-mining-a-block\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/ethereum-miner.jpeg?resize=200%2C183","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/ethereum-miner.jpeg?fit=275%2C183"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","eth miner","ethereum","ethereum miner","ethereum mining","mining"],"dateCreated":"2022-01-19T17:00:36Z","datePublished":"2022-01-19T17:00:36Z","dateModified":"2022-01-19T17:00:36Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Solo Ethereum Miner Hits The Jackpot With 170 ETH For Mining A Block\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/solo-ethereum-miner-hits-the-jackpot-with-170-eth-for-mining-a-block\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/solo-ethereum-miner-hits-the-jackpot-with-170-eth-for-mining-a-block\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/ethereum-miner.jpeg?resize=200%2C183\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/ethereum-miner.jpeg?fit=275%2C183\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"eth miner\",\"ethereum\",\"ethereum miner\",\"ethereum mining\",\"mining\"],\"dateCreated\":\"2022-01-19T17:00:36Z\",\"datePublished\":\"2022-01-19T17:00:36Z\",\"dateModified\":\"2022-01-19T17:00:36Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/ethereum-miner.jpeg?fit=275%2C183","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/481540"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=481540"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/481540\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/481542"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=481540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=481540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=481540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}