top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

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

Clay pottery with table linens
bottom of page