How one Ethereum miner earned over $500k in block rewards

One Ethereum miner could beryllium the luckiest successful the space, arsenic helium single-handedly mined an full ETH artifact and earned himself a chill reward of 168 ETH worthy astir $500,000.

Solo miners get fortunate with Ethereum and Bitcoin Rewards

The said miner was operating done the 2miners: Ether SOLO excavation connected January 17th. Per disposable data, the miner was capable to person a reward 42 times higher than the accustomed magnitude reward awarded by block.

A cursory look astatine the size and hash powerfulness of the SOLO would amusement however fortunate the miner was. As of property time,  little than 1,000 miners are online, and they lend astir 1.5 Tera hashes per second.

Interestingly, this is the 3rd clip this twelvemonth that this freak occurrence would beryllium happening. In the archetypal 2 cases, antithetic solo miners utilizing the Solo CK were capable to excavation an full artifact of Bitcoin connected their own. This earned each of them 6.25 BTC, respectively.

Ethereum and Bitcoin mining hashpower reaches caller heights

What makes the accomplishment of the solo miners much commendable is the information that Bitcoin hashrate lone precocious reached a caller all-time high.

According to disposable information connected Glassnode, Bitcoin hashrate has deed 215 cardinal terahashes per second. Ethereum hashrate has besides reached caller highs astatine the opening of this year.

What this points to is the information that the miners were truly fortunate arsenic they had a 1 successful 1,400,000 accidental of mining an full artifact connected their own. 

Crypto mining activities gully attraction of the authorities

While the earlier miners person been capable to reap the bountiful rewards of crypto mining, authorities astir the satellite are becoming progressively agitated astir the industry.

Crypto mining is simply a process that allows crypto transactions to beryllium validated and astatine the aforesaid time, it leads to the minting of caller integer coins. This process, particularly for blockchains moving connected the impervious of enactment network, is babelike connected the computing powerfulness and tin beryllium energy-intensive.

In this twelvemonth alone, antithetic reports emanating from several European countries amusement the resoluteness of the authorities to end the usage of their vigor sources for mining activities.

In Kosovo for example, the government’s broad prohibition connected Bitcoin mining has led miners successful the state to commencement selling their equipment.

Georgia, connected the different hand, has taken a much spiritual attack towards the space. A video connected the net shows residents successful the state swearing oaths successful a religion not to usage the country’s powerfulness for mining crypto.