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Cryptocurrency

20 Jan 2022

Individual Ethereum Miner hits a Jackpot with $540K Block Reward

The Index Today

An individual miner managed to collect 168 ETH from a solo mining pool just this week worth 42 times the average block reward. The Ether (ETH) miner struck it big by mining a block on his own and receiving a reward valued at $540,000.

According to BitInfoCharts, the miner was operating through the 2miners Ethereum SOLO pool on Jan. 17 when they mined an entire block and received 168 ETH. That reward vastly outstrips the per-block average reward of about 4 ETH according to the reports.

Adding to the remarkable nature of the reward is the size and hash power of the SOLO pool. It is relatively small with 854 miners online and 1.5 Tera hashes per second at time of writing, meaning that the average miner contributes 1.85 Giga hashes per second. The lucky miner currently contributes 2.25 Giga hashes per second which could be generated between 1 to 20 of the latest GPU devices, Cointelegraph reported.

Hash power is the amount of computer processing power a device contributes to a Proof-of-Work blockchain like Ethereum and Bitcoin. More hashpower helps secure the network by processing transactions and mining blocks.

©Photo: News.Bitcoin

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