A Single Bitcoin Miner Has Earned a 6.25 BTC Block Reward
Six and a quarter of Bitcoin were given to a wallet that does its own Bitcoin mining without joining a pool.
Successfully mining a block worth 6.25 Bitcoin (BTC) would net a lone miner almost $160,000 at today’s exchange rate. This requires a hash rate of roughly 1 petahash per second (PH/s).
At the present difficulty level, a miner with such a modest hash rate may expect to solve a block once every seven years. It’s also important to note that the award was won at a period when mining difficulty was at its highest ever, 52.39.
The lone miner who claimed the block reward remained anonymous. Since the price of power to mine for a single Bitcoin is about $22,000 in Turkey and $46,000 in the United States, this activity can only be viable in areas with low electricity prices.
According to Coingecko statistics, we recently revealed as Bitcoinsistemi.com that Bitcoin mining was performed at the lowest cost in Lebanon, Iran, Libya, Ethiopia, and Kyrgyzstan.
Due to infrastructural issues and unreliable electrical supplies, BTC mining may still be inefficient in some nations. Changpeng Zhao, CEO of Binance, recently revealed statistics on how much it costs to mine Bitcoin in various low-cost nations.