TL;DR
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One lucky ‘solo miner’ just had a $160k+ pay day.
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How lucky were they? “A miner of this size would only solve a block [roughly] once every 450 years on average,” according to the admin of Solo CKPool (the BTC mining software used).
Full Story
A long time ago, every single book was printed by hand.
Then, in the 15th century, Johannes Gutenberg invented the printing press; and with it a whole bunch of publishing companies started popping up.
Now, we’re not saying Bitcoin mining rigs are quite as revolutionary as the printing press – blockchain technology may be, but that’s a discussion for another day.
The point we’re making here is that a similar thing happened with BTC mining.
It started as individuals, setting up their own personal mining rigs in their basements, and mining BTC (i.e. using computers to solve complex equations and being rewarded with BTC for doing so).
Then, as BTC became more and more popular, companies started popping up with the sole purpose of mining BTC.
Today, BTC mining farms look like huge server factories.
It works – BTC mining farms have accounted for 99.97% of all BTC mined since 2014.
However, one lucky ‘solo miner’ just had a $160k+ pay day.
Just as you can print books by hand today, you can mine BTC as a solo operator…you just have to be insanely lucky to be the one who actually ends up solving the block equation.
How lucky? “A miner of this size would only solve a block [roughly] once every 450 years on average,” according to the admin of Solo CKPool (the BTC mining software used).
So, while it’s not advisable to go out and set up your own mining rig, for those who do, you might just hit the jackpot.
