Solo Bitcoin miners are having a great year, it appears—despite the difficulty of minting the digital currency ever increasing.
An individual miner on Thursday managed to process a block on the biggest cryptocurrency’s network, and took home 3.329 Bitcoin in total, worth $222,438 as a reward. Blockchain data shows that the block contained 3,285 transactions and was processed at 4:18am ET.
Bitcoin mining is the energy-intensive job of processing blocks on the cryptocurrency’s network. Blocks are full of transaction data and are part of the Bitcoin blockchain—a nearly impenetrable ledger and one of the most secure computing networks on Earth.
When blocks are processed, miners are given newly minted coins: a 3.125 BTC fixed reward, along with the transaction fees paid by those using the network during that particular block window.
Back in the day, nearly anyone could take part in the mining process and mint new coins at home. But as the network has grown, mining difficulty has increased subs
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Author: Mathew Di Salvo
