Recently, an independent miner achieved a significant victory by independently solving block 907,283 and receiving a reward of $373,000 in one go.
This achievement is truly impressive, considering the incredible difficulties the miner had to overcome.
The probability of mining one block per day (at 1 PH/s) is approximately 1 in 4.26 million.
By comparison, the odds of being struck by lightning during a person’s lifetime are about 1 in 15,300.
So, the chance of being struck by lightning is 278 times higher than the chance of mining Bitcoin on your own on any given day.
Every day, around 900 coins are mined on the network. However, the contribution of one miner to the total Bitcoin hashrate is only a tiny fraction, which is currently around 600 EH/s.
The odds given mean that on average it would take over 4 million days of mining to have a chance of winning one block.
Solo mining was the only way to mine Bitcoin in its early days, as the first mining pools had not yet been created. The first Bitcoin users could mine coins on standard personal computers.
However, the network has grown significantly since then, and by 2013, solo mining had become extremely rare.
Solo mining is currently only suitable for enthusiasts as they will likely not earn anything while still paying for electricity and maintenance.
Over 99% of all blocks are mined by pools. Anomalous blocks mined by independent miners are extremely rare.
As U.Today reports , in February, an entire block of Bitcoin was mined by a single person.
Source: cryptonews.net
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