A solo Bitcoin miner struck it big on February 10, 2025, by successfully mining a block that earned them a reward of 3.125 Bitcoin, worth over $300,000. The block, identified as Block 883,181, contained 3,071 transactions, and the total reward amounted to 3.15 Bitcoin, according to data from the Bitcoin block explorer, Mempool.space.
Bitcoin miner Marshall Long shared on social media that the unknown miner appeared to be using an implementation of CKPOOL, though he speculated that the miner might have used a Bitaxe mining device, which is often employed for solo mining or within mining pools. Bitaxe devices help increase the chances of solving a block, either solo or through a pooled effort where miners combine their computational power.
Bitcoin Hashrate and Mining Landscape
As of February 10, the Bitcoin network’s hashrate stood at 788.86M, a slight dip from 795.29M the day before but still showing a remarkable 53% increase from the previous year, according to data from YCharts. A higher hashrate means more computational power is required to mine new blocks, increasing energy costs and verification times, which makes it much harder for solo miners to successfully validate a block.
Solo mining is a rare feat in the current landscape of Bitcoin mining, where large mining firms like Bit Digital, Riot Blockchain, and Marathon Digital typically dominate the space. These companies control massive amounts of hash power, significantly boosting their chances of mining new blocks compared to individual miners.
Bitcoin Price Recovers Amid Trade Tensions
The news comes as Bitcoin continues its recovery from a brief dip in prices following U.S. President Donald Trump’s announcement of new tariffs on aluminum and steel. The tariffs were part of a broader escalation in the U.S.-China trade war, which momentarily rattled markets.
Bitcoin’s price has since bounced back above $98,000, showing a 1.22% increase in the past 24 hours, according to CoinMarketCap. Despite the recent recovery, Bitcoin is still below its all-time high, which briefly surpassed $109,000 on January 20, 2025, just before Trump’s inauguration.
Bitcoin’s Limited Supply
The mining reward also highlights the ongoing rarity of new Bitcoin being created. As per Satoshi Nakamoto’s original white paper, only 21 million Bitcoin will ever be mined, with over 19 million already awarded to miners through block rewards. This limited supply continues to add to Bitcoin’s appeal as a deflationary asset.
While solo mining remains a rare accomplishment, this recent success serves as a reminder of the unpredictable nature of the cryptocurrency mining landscape, where individual miners can sometimes strike it rich despite the challenges posed by the growing hashrate and competition from major mining operations.
