A single Ether (ETH) miner made a lot of money by mining a block on their own and getting a reward worth about $540,000.
There was a person who worked for the 2miners Ethereum SOLO pool on Jan. 17 when they mined an entire block and got about 168 ETH in reward money for it.
That reward is a lot bigger than the average reward for each block, which is about 4 ETH, according to BitInfoCharts.
There are a lot of people and a lot of hash power in the pool, which makes the reward even better.
As of this writing, there were 854 miners online, and they were doing 1.5 Tera hashes per second. This means that the average miner did 1.85 Giga hashes per second.
2.25 Giga hashes per second are being done by the lucky miner right now, which could be done by one to twenty of the most recent GPU devices.
Having a lot of “Hash Power” means that a computer can run a Proof-of-Work blockchain, like Ethereum or Bitcoin, a lot.
Having more hashpower helps to keep the network safe by processing transactions and mining blocks.
This is the third time in two weeks that a crypto miner has won big money.
They made 6.25 Bitcoin (BTC) for mining an entire block on their own on Jan. 11. This person is from the Solo CK anonymous solo mining operation.
Two days later, another solo miner who used Solo CK again mined a new block on Bitcoin with only one to three rigs, like the first time.
As many as 1 in 1,400,000 people had a chance to mine an entire block, and it’s thought that only 1 in a billion people could do the same thing in the same week.
Since May 12, 2021, the average daily profit from mining Ethereum has been going down. It hit a high of $0.282 on May 12, 2021.
BitInfoCharts says that the average profit is now about $0.0474.
This is in part because of EIP-1559, which doesn’t give miners their fees. Instead, it burns them.
“The Merge,” which refers to the move to a Proof-of-Stake (POS) consensus algorithm, may be history when the Ethereum network does “the Merge,” which means it moves to a Proof-of-Stake consensus algorithm.
With POS, tokens are staked to keep the network stable.
This will cut down on the amount of electricity the network needs.
