Individual ETH miner hits jackpot with $540K block reward!
An individual miner defied the odds and managed to collect 168 ETH from a solo mining pool this week worth 42 times the average block reward.
An individual Ether (ETH) miner struck it big by mining a block on their own and receiving a reward valued at about $540,000.
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 BitInfoCharts.
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.
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.
The lucky jackpot on the Ethereum network marks the third time in two weeks that an individual crypto miner has hit the big time. A Bitcoin (BTC) miner from the Solo CK anonymous solo mining operation raked in 6.25 BTC for mining an entire block on their own on Jan. 11.