The solo miners have been defining the probabilities, successful claiming complete bitcoin block rewards even when the hashrate of the network looms close to the maximums of all time.
At the time of writing this article, the hashrate of the Bitcoin Network (BTC) is around 902 exhaleshes per second (eh/s), just below its historic peak, according to blockchain.com. The figure shows a growing competition and a high difficulty, suggestion that individual miners face pronounced chances of winning a block.
However, last week, a solo miner challenged the probabilities of thesis, ensuring block 907,283 through the pool only CK and winning the complete reward of 3,125 BTC, with a value of more than $ 372,000 at that time. The miner also received additional $ 3,436 in transaction rates.
That wins an isolated event. In early July, another miner with only 2.3 Petahas of Power claimed a blocking reward, while similar victories were recorded in June, March and February.
“We are seeing solo miners to win blocks not because luck, but because powerful and efficient hardware is executed,” said Samuel Li, director of Technology at Asickey, Cointelegraph. He added that modern miners are built to deliver “serious hashrate” without the massive power raffle of traditional configurations.
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Focus efficiency
For solo miners, efficiency is everything, Li said. “Take our Keyminer A1: draw only 650 watts, but delivers 1,100 TH/S in Bitcoin, with monthly profits of around $ 1,200. For those who diversify in Altcoins, you can earn up to $ 3,800 per month in the mining race.”
The Keyminer A1 is part of the Asickey hardware line introduced last November, which also includes Keyminer X and Keyminer Pro.
According to the company, the Keyminer X offers 2,300 Terahash per second (TH/S) to 1,300 watts, while the Pro model offers up to 5,800 TH/SA 2,800 watts. Under current market conditions, the company estimates monthly yields of up to $ 6,300 for the PRO.
However, despite the improvements in the efficiency of the specific integrated circuit (ASIC) of the application, the “fundamental probabilities [of solo miners winning] I haven’t changed much, “Li said.
“Solo mining remains mainly a lottery, unless you control dozens of pH/s, which is realistic to have a measurable statistical take for success within a reasonable time frame,” he added.
Li explained that in the hashrat of today’s bitcoin network, a miner with a Petahash (pH/s) or hashpower has approximately a probability of 1 in 650,000 to solve a block every 10 minutes. A hash peta (pH/s) is equivalent to 1,000 terra hashes (th/s).
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Why do miners go alone?
Li confirmed that a “modest resurgence” or interest in solo mining has bone, but for different reasons. “Some miners are choosing it not for predictable income, but for the possibility of a great reward: 6.25 BTC more rates, which can be transformative if,” he said.
While monetary incentives play a key role, some are driven for ideological reasons, valuing the decentralization of the network and the ability to operate mining groups independently or centralized.
According to the hashrate index data, the mining group based in the United States Foundry USA continues to dominate Bitcoin mining, in charge of 29.3% of the total hashrate. Antpool continues with 16.2%, while Viaabtc and F2pool have 12.0% and 11.6% respectively.
If a single group (or a few poles that act together) control more than 50% of the hashrate, theoretically could launch a 51% attack, which would allow them double expense coins. While it is strange and expensive, this event would erode confidence in the network.
“Ultimately, more solo miners, special, those who operate with clean energy and efficient hardware, could represent a healthier and more decentralized bitcoin network, which is aligned with the original vision of participation without permission,” Li concluded.
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