Bitcoin Mining Is Back in the Spotlight

Despite Bitcoin’s soaring hashrate, solo miners are pulling off improbable wins – claiming full block rewards worth hundreds of thousands. With efficient ASICs and a bit of luck, the solo mining game is starting to turn heads again.

• Solo miners continue to win full block rewards despite high network hashrate.
• A miner recently earned over $375,000 for a single block using Solo CK pool.
• Efficient ASICs like KEYMINER A1, X, and PRO are improving solo mining viability.
• Odds are still extremely low – around 1 in 650,000 per PH/s per block.
• Solo mining appeals both for jackpot potential and decentralization values.

The Bitcoin network’s hashrate currently sits around 902 exahashes per second (EH/s), just under its all-time high. This level of competition means the chances for solo miners to solve a block are extremely slim. Still, last week, a solo miner defied those odds and secured block #907,283 through the Solo CK pool. The reward: 3.125 BTC plus $3,436 in transaction fees, totaling over $375,000.

This isn’t an isolated case. Similar solo wins were recorded earlier in July, as well as in June, March, and February. One such miner had just 2.3 petahashes of power – a small amount compared to major mining operations.

Samuel Li, CTO of ASICKey, attributes these wins to advances in mining efficiency. ASICKey’s KEYMINER line includes models like:

• KEYMINER A1: 1,100 TH/s at 650 watts, with potential monthly profits around $1,200.
• KEYMINER X: 2,300 TH/s at 1,300 watts.
• KEYMINER PRO: 5,800 TH/s at 2,800 watts, estimated to earn up to $6,300 per month.

Despite hardware improvements, Li emphasizes that the odds remain largely unchanged. At current hashrates, a miner with one petahash (PH/s) has a 1 in 650,000 chance of solving a block every 10 minutes. A miner would realistically need tens of PH/s to statistically compete.

So why go solo? According to Li, some miners are driven by the appeal of a massive payout – potentially life-changing – rather than steady, predictable income. Others are motivated by ideology, preferring independence and contributing to a more decentralized network.

Data from Hashrate Index shows large mining pools like Foundry USA (29.3%), AntPool (16.2%), ViaBTC (12%), and F2Pool (11.6%) still dominate Bitcoin mining. This level of centralization raises concerns about potential 51% attacks, where colluding pools could manipulate the network – a risk that solo miners help mitigate.

Conclusion:

Solo Bitcoin mining remains a high-risk, high-reward endeavor. While the odds haven’t improved much, efficient ASIC hardware and a commitment to decentralization are fueling renewed interest. For those willing to take the gamble – or stand by principle – solo mining offers a shot at both big rewards and supporting Bitcoin’s original, permissionless vision.