Solo Bitcoin miner wins $350K block with 2.3 PH setup, rare jackpot for small miners.

A solo Bitcoin miner struck gold, mining a block with 2.3 petahashes, earning $349,028 in Bitcoin. The odds are rare, with just a 0.004% chance for miners of this size. Smaller rigs like the Bitaxe Gamma produce fewer terahashes, making solo jackpot wins even more unlikely.

Solo miners need around 166,000 TH/s for a shot at mining one Bitcoin block per month. In February and June, solo miners hit jackpots worth over $300,000 each. Despite high network difficulty, solo mining remains a game of chance, with hashrate not guaranteeing success.

Industrial Bitcoin mining output fell in June for major players like Riot Platforms and Cipher Mining. Operations were curtailed strategically to avoid high peak demand charges in Texas. As solo miners hit jackpots, industrial mining production declined, reflecting a shifting landscape in the crypto mining industry.

Read more at Cointelegraph: Solo Bitcoin Miner Wins $350K Block With 2.3 PH Setup