Bitcoin Despite all the challenges of mining, it is still possible for some individual miners to reap big rewards. Recently, a Bitcoin miner single-handedly solved block 841,286, earning 3,125 BTC. At current market value, this is approximately $194,709.
Bitcoin mining is usually carried out using specially designed devices. Miners try to solve blocks of code either individually or by joining large pools. Individual miners receive the full reward for solving the block , while the reward for mining in pools is shared with other participants in the pool.
A Very Rare Event
This kind of success is as rare and valuable as winning the lottery. According to Con Kolivas, director of mining pool ckpool, only 282 times to date has a miner managed to claim the mining prize entirely on their own. Also, the recent Bitcoin halving the reward per block decreased from 6.25 BTC to 3.125 BTC. This reduced the value of the reward for the miner who won the reward for solving the block. If this miner had solved the block before the halving, he would have earned 6.25 BTC, worth about $400,000.
