In the early years, mining Bitcoins (BTC) was often done in attics. But with the explosive growth, the professionalism of mining also increased. This has now become a billion-dollar business and there are even listed companies that have fully specialized in it. So there is a small chance that a hobby miner will still be able to fight through this. But every now and then someone manages to get a piece of the rewards.
Chances of ‘BTC jackpot’ only 1 in 1.2 million
Last Friday, according to X user Con Kolivas, a hobbyist with his own mining setup managed to win the block of transactions from the major players in the market. This rare occurrence allowed this miner to pocket the entire 3,125 BTC reward. With the current Bitcoin price, this now has a value of over 264,000 dollars, or 229,000 euros
The profit is even more unique now that it is known that this miner can deliver “only” 1.2 terahashes per second. This is only a fraction of what listed miners can continuously supply in computing power. They supply exahashes, which is already a trillion times more. A calculation by Kolivas showed that the chance of such an incident is around 1 in 1.2 million.
Shifts in the mining world
Several shifts can be seen in the mining world. In recent months, we’ve seen a solo miner walk away with a reward about once a month. Since many solo miners cannot go it alone, they usually group themselves together through a mining pool. This increases their chances, but they also only receive part of the rewards.
In addition, the largest cryptocurrency is following the so-called Bitcoin halving. An event that occurs approximately every 4 years. The reward for miners is halved. As a result, many small miners have seen their margins become so small that they have been forced to stop. The larger miners have more leeway, but still looked for alternative sources of income.
For example, CleanSpark previously showed that they are also taking steps in the field of artificial intelligence (AI). This world needs a lot of computing power for its development and that is exactly what miners have at their disposal. As soon as the reward for AI-related activities yields more money, it is logical that they also develop in this area. In short, these larger miners do not cease their activities, but they do tap into other sources of income.
Source: https://newsbit.nl/hobby-miner-wint-bitcoin-blok-en-pakt-229-000-euro-met-pure-mazzel/
