Solo Miner Defies Odds to Secure Bitcoin Block Reward
The Solo Minor has made headlines by successfully claiming a full Bitcoin block reward, all while facing some of the highest network hashrates recorded yet.
Currently, the Bitcoin (BTC) network hashrate sits around 902 exahashes (eh/s) per second, just shy of its all-time peak, according to blockchain.com. This increase in hash power indicates heightened competition and a tougher landscape for miners hoping to hit the jackpot.
Nonetheless, against these odds, a solo miner managed to secure block 907,283 via the Solo Corner Pool last week, netting a reward of 3.125 BTC—a value exceeding $372,000 at that time. On top of that, they earned an additional $3,436 in trading fees.
This wasn’t just a one-off success. Earlier in July, another solo miner operating with just 2.3 petahashes also claimed a full block reward, and similar successes were seen in June, March, and February.
Samuel Li, Chief Technology Officer at Asickey, noted that modern miners can achieve impressive hashrates without the massive power requirements of earlier setups.
Efficiency is Key
For those mining solo, efficiency is crucial, according to Lee. He mentioned the Keyminer A1, which uses only 650 watts but delivers 1,100 TH/s in Bitcoin, yielding a monthly profit around $1,200. For miners dabbling in altcoins, potential earnings could reach up to $3,800 per month.
The Keyminer A1 is part of Asickey’s hardware line from last November, which includes the Keyminer X and Keyminer Pro. The Keyminer X offers a performance of 2,300 TH/s at 1,300 watts, while the Pro model can achieve up to 5,800 TH/s with a power draw of 2,800 watts. Given the current market, monthly returns for the Pro model could hit $6,300.
Even with these advancements, Lee cautioned that the fundamental odds of winning as a solo miner remain largely unchanged. He described solo mining as essentially a lottery unless miners command dozens of pH/s. Realistically, a miner with that level of power has a statistical chance of unlocking a block within a reasonable timeframe.
Li further explained that the hash power of one petahash (pH/s) translates to about one in 650,000. In this framework, a block is unlocked roughly every 10 minutes, which can make it feel somewhat discouraging.
Reasons for Going Solo
Lee acknowledged a growing interest in solo mining, motivated by various factors. Many miners are drawn by the potential for a larger reward, like the full 6.25 BTC plus fees, rather than opting for a steady income.
While financial incentives are certainly a factor, there’s also a philosophical aspect at play. Miners often value the ability to contribute to network decentralization and prefer to operate independently from centralized pools.
According to data from the Hash Rate Index, the US-based mining pool Foundry USA leads Bitcoin mining, holding 29.3% of the total hashrate. Antpool follows with 16.2%, while VIABTC and F2Pool account for 12.0% and 11.6%, respectively.
When a single pool—or a collection of pools—controls over 50% of the hashrate, it theoretically opens the door for a 51% attack, which could be detrimental to the network. Such events, while rare, can undermine trust.
Ultimately, having more solo miners, particularly those utilizing clean energy and efficient hardware, can contribute to a healthier, decentralized Bitcoin network. This aligns with the foundational vision of unregulated participation.
