{"id":16654,"date":"2024-09-03T17:48:19","date_gmt":"2024-09-03T14:48:19","guid":{"rendered":"https:\/\/forklog.com\/en\/solo-miners-extract-over-329-bitcoin-blocks-in-11-years\/"},"modified":"2024-09-03T17:48:19","modified_gmt":"2024-09-03T14:48:19","slug":"solo-miners-extract-over-329-bitcoin-blocks-in-11-years","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/solo-miners-extract-over-329-bitcoin-blocks-in-11-years\/","title":{"rendered":"Solo Miners Extract Over 329 Bitcoin Blocks in 11 Years"},"content":{"rendered":"<p>Since 2014, solo miners of the first cryptocurrency have extracted at least 329 blocks, according to calculations by Protos based on CK Pool data.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">CHART: When solo miners found a Bitcoin block<\/p>\n<p>Operating as lone wolves and paying for 100% of their own equipment and electricity, solo bitcoin miners sometimes strike it lucky.<\/p>\n<p>Read more: <a href=\"https:\/\/t.co\/SNFocjIsqS\">https:\/\/t.co\/SNFocjIsqS<\/a> <a href=\"https:\/\/t.co\/O024Vjf1Pk\">pic.twitter.com\/O024Vjf1Pk<\/a><\/p>\n<p>\u2014 Protos (@Protos) <a href=\"https:\/\/twitter.com\/Protos\/status\/1830635616171905521?ref_src=twsrc%5Etfw\">September 2, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The structure is not a pool in the strict sense but provides services to individual cryptocurrency miners. These miners connect their hash rate to the network through it and receive 98% of the block reward (minus CK Pool&#8217;s fee) if successful.<\/p>\n<p>The actual figures for solo mining are likely somewhat higher, as such network participants are not required to use the platform&#8217;s service, noted the publication.<\/p>\n<p>Meanwhile, the chances of solving Bitcoin&#8217;s cryptographic puzzle for solo miners are practically 0%.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;However, nearly zero is not zero,&#8221; journalists stated.<\/p>\n<\/blockquote>\n<p>As of March 2023, solo miners were extracting an average of one block every 10 months. Traditional pools generated 43,200 basic network elements over the same period.<\/p>\n<p>Hass McCook from the Bitcoin Mining Council described the odds for solo miners as even lower \u2014 one in 1.4 million.<\/p>\n<p>Yet these estimates do not account for the 11 blocks mined by solo miners in the past six months, emphasized Protos.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"431\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Solo-CK-mempool-Bitcoin-Explorer-Google-Chrome-1024x431.jpg\" alt=\"Solo-CK-mempool-Bitcoin-Explorer-Google-Chrome\" class=\"wp-image-240348\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Solo-CK-mempool-Bitcoin-Explorer-Google-Chrome-1024x431.jpg 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Solo-CK-mempool-Bitcoin-Explorer-Google-Chrome-300x126.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Solo-CK-mempool-Bitcoin-Explorer-Google-Chrome-768x323.jpg 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Solo-CK-mempool-Bitcoin-Explorer-Google-Chrome.jpg 1313w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/mempool.space\/pl\/mining\/pool\/solock\">mempool.space<\/a>.<\/figcaption><\/figure>\n<p>At the time of writing, the latest success was achieved on August 29 by a CKPool user with a hash rate of 38 PH\/s. According to pool administrator Con Kolivas, the computational power of the equipment allows for mining one block in this manner every four months.<\/p>\n<p>According to his calculations, CKPool solo miners have collectively added 291 blocks to the network.<\/p>\n<p>On July 24, a pool user with a hash rate of 3 TH\/s achieved this. His total reward <a href=\"https:\/\/u1f987.com\/en\/news\/solo-miner-strikes-bitcoin-block-earning-212000\">amounted to $211,972<\/a>.<\/p>\n<p>In April, CKPool participants managed this twice: the first at the beginning of the month <a href=\"https:\/\/u1f987.com\/en\/news\/solo-miner-successfully-mines-bitcoin-block\">earned approximately $422,750<\/a>, while the second, due to the <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-undergoes-fourth-halving\">halving event<\/a>, received only <a href=\"https:\/\/u1f987.com\/en\/news\/solo-miner-secures-bitcoin-block-earning-218500\">around $218,544<\/a>.<\/p>\n<p>On August 28, following another recalculation, Bitcoin&#8217;s mining difficulty <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-mining-difficulty-rises-nearly-3\">increased<\/a> by 2.99%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Since 2014, solo miners of the first cryptocurrency have extracted at least 329 blocks, according to calculations by Protos based on CK Pool data. CHART: When solo miners found a Bitcoin block Operating as lone wolves and paying for 100% of their own equipment and electricity, solo bitcoin miners sometimes strike it lucky. Read more: [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16653,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1137],"class_list":["post-16654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-cryptocurrency-mining"],"aioseo_notices":[],"amp_enabled":true,"views":"92","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=16654"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16654\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/16653"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=16654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=16654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=16654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}