Summary
- It reported that there were two cases in the same week in which individual miners mined blocks solo and each secured rewards of about $300,000.
- It said the two miners each successfully mined one block and received 3.15 bitcoins, bringing their total proceeds to about $300,000 apiece.
- It reported that solo Bitcoin mining has a very low probability of success, but when successful, it has the advantage of allowing the miner to take the full subsidy and fees.
In an unusual development, two instances occurred in the same week in which individual miners mined a block on their own and secured rewards worth about $300,000 (roughly $400,000).
According to CoinDesk on the 17th (Korea time), each miner successfully mined a single block and received 3.15 bitcoins. The proceeds they took home totaled about $300,000 apiece.
Bitcoin mining is largely a game of probabilities, so most miners join large mining pools to stabilize income. Solo mining has a very low probability of success, but if a miner does succeed in mining a block, the advantage is that they can take the entire subsidy and fees.
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