The Cryptonomics™
  • Home
  • Blockchain
  • Bitcoin
  • Ethereum
  • NFTS
  • Altcoin
  • Mining
  • Consulting
Reading: Solo Bitcoin miner earns $200,000 reward amid rising centralization considerations
Share
Please enter CoinGecko Free Api Key to get this plugin works.
The Cryptonomics™The Cryptonomics™
Font ResizerAa
Search
  • Home
  • Blockchain
  • Bitcoin
  • Ethereum
  • NFTS
  • Altcoin
  • Mining
  • Consulting
Follow US
  • About Us
  • Advertising Solutions
  • Privacy
  • Terms
  • Advertise
Copyright © MetaMedia™ Capital Inc, All right reserved
The Cryptonomics™ > Mining > Solo Bitcoin miner earns $200,000 reward amid rising centralization considerations
Mining

Solo Bitcoin miner earns $200,000 reward amid rising centralization considerations

admin
Last updated: August 30, 2024 11:25 pm
admin Published August 30, 2024
Share
Solo Bitcoin miner earns 0,000 reward amid rising centralization considerations


Contents
Centralization considerationsTalked about on this article

A solo Bitcoin miner has independently solved a BTC block to earn a reward of three.275 BTC, roughly equal to $200,000.

On Aug. 29, Con Kolivas, a software program engineer and administrator of the solo mining pool ckpool, introduced on X that the miner had efficiently solved the 291st solo block in Bitcoin’s historical past. He congratulated the miner, stating:

“Congratulations to miner 36AisvWi1UiwLTeTZxLzindAkorqeUc3tT for fixing the 291st solo block on solo.ckpool.org! This hefty miner with 38PH would clear up a block on common as soon as each ~4 months.”

Blockchain information confirms that the miner efficiently mined block quantity 858,978 on the Bitcoin blockchain, which included 2,391 transactions.

Centralization considerations

This achievement comes at a time when considerations concerning the centralization of Bitcoin mining are rising inside the group.

Knowledge from BTC.com reveals that 4 mining swimming pools—Foundry USA, AntPool, ViaBTC, and F2Pool—have produced about 80% of Bitcoin blocks over the previous three days, elevating alarms amongst group members.

Bitcoin Mining Pool Distribution (Supply: BTC.com)

Foundry USA and AntPool alone accounted for greater than 50% of the blocks mined by these swimming pools.

This excessive degree of centralization has raised considerations about the way forward for Bitcoin. Jameson Lopp, co-founder of CasaHODL, weighed in on the problem, explaining that Bitcoin mining centralization is a battle between economies of scale and the decentralized nature of power sources. Nonetheless, he stays optimistic that decentralization will finally prevail.

Notably, the dangers have been exacerbated by the current halving occasion, which lower block mining rewards in half. This discount has pushed many smaller miners out of the market, leaving the trade dominated by publicly traded mining firms.

Bitfinex has warned that this focus of mining energy might result in potential censorship of transactions and elevated vulnerability to coordinated assaults or regulatory pressures. The agency said:

“This focus of mining energy amongst fewer entities might result in elevated centralization, which is opposite to Bitcoin’s ethos. Centralization dangers might imply the potential censorship of transactions and elevated vulnerability to coordinated assaults or regulatory pressures.”

Talked about on this article

You Might Also Like

Neosmelt lower-emission metal consortium welcomes ARENA funding, new fairness individuals

France joins world pattern of utilizing Bitcoin mining for vitality steadiness

Sandvik to produce loaders, drills and rock bolters to La Cantera Desarrollos Mineros

Rio Tinto backs titanium, scandium ore sorting demo at Lac Tio mine

ASI opens new workplace in Salt Lake Metropolis following development enterprise launch

Share This Article
Facebook Twitter Email Copy Link Print
Previous Article BNB Battles Persistent Bearish Strain, Will 0 Be The Subsequent Cease? BNB Battles Persistent Bearish Strain, Will $500 Be The Subsequent Cease?
Next Article Ethereum Basis disburses .5M in grants for Q2, backing 98 initiatives Ethereum Basis disburses $8.5M in grants for Q2, backing 98 initiatives
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Subscribe to our newslettern

Get Newest Articles Instantly!

- Advertisement -
Ad imageAd image
Popular News
Trump Media information for Bitcoin and Ethereum ETF
Trump Media information for Bitcoin and Ethereum ETF
The journey to a mature asset administration system
The journey to a mature asset administration system
High 3 Meme Coin Gems Price Shopping for Earlier than Could 2024 – PEPE, WIF, and DOGEVERSE
High 3 Meme Coin Gems Price Shopping for Earlier than Could 2024 – PEPE, WIF, and DOGEVERSE

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Facebook Instagram Linkedin Pinterest Tiktok Twitter Youtube
The Cryptonomics™

Cryptonomics Magazine is your premier digital source for blockchain insights, offering cutting-edge research, news, interviews, and ICO updates for everyone from entrepreneurs to institutions. We drive blockchain knowledge and growth.

Subscribe to our newsletter

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Trump Media information for Bitcoin and Ethereum ETF
June 17, 2025
Flare’s FXRP entice establishments to XRPFi ecosystem
June 17, 2025
Cardano (ADA) Faces Hassle at Key Assist — Is a Breakdown Looming?
June 17, 2025
Solana, Bitget Be a part of Ondo Finance’s ‘Market Alliance’
June 17, 2025
Easy methods to compute MAST commit bytes in bitcoin fee?
June 17, 2025
Copyright © The Cryptonomics™ , All right reserved
  • About Us
  • Advertising Solutions
  • Privacy
  • Terms
  • Advertise
Join Us!

Subscribe & Stay Ahead of the Curve with Cryptonomics !

Zero spam, Unsubscribe at any time.
Welcome Back!

Sign in to your account

Lost your password?