- A solo Bitcoin miner with modest equipment beat 1-in-2,800 daily odds and earned nearly $350,000 by successfully mining a single block.
- The miner used 2.3 petahashes per second of computing power, and experts estimate this setup would normally find one block every eight years on average.
- Chinese companies still control most Bitcoin mining operations worldwide despite China’s 2021 mining ban by moving facilities overseas and producing 99% of all mining hardware.
A solo Bitcoin miner has achieved an extraordinary feat by successfully mining block 903883 and earning nearly $350,000 in Bitcoin rewards. The miner operated through CKpool solo mining pool using equipment that generated 2.3 petahashes per second (PH/s).
Mining data from Mempool Space confirmed the successful block solution. Bitcoin historian Pete Rizzo described the achievement as a remarkable event given the astronomical odds involved.
The CKpool administrator revealed that miners operating at 2.3 PH/s face approximately 1-in-2,800 daily odds of solving a block. This translates to roughly one success every eight years under normal circumstances. At current network difficulty levels, miners have just a 0.004% chance per day of finding a block.
The successful miner earned 3.173 BTC, worth approximately $349,028 at current market prices. Industry experts believe the operation likely involved multiple older-generation ASIC mining rigs combined to achieve the 2.3 PH/s hashrate.
BREAKING: A SOLO MINER JUST MINED AN ENTIRE #BITCOIN BLOCK WORTH OVER $350,000
THEY BEAT INCREDIBLE ODDS 🔥 pic.twitter.com/Cp5xV7ZlKR
— The Bitcoin Historian (@pete_rizzo_) July 3, 2025
Mining Hardware Requirements Present Massive Barriers
The hardware requirements for consistent solo mining present significant financial obstacles. Smaller hobbyist devices like Bitaxe or USB-based NerdMiner units produce only terahashes or kilohashes per second. These machines have virtually no chance of successfully mining a complete block.
Miners seeking to solve one block monthly would require approximately 166,000 terahashes per second. This hashrate would necessitate about 500 Antminer S21 Hydro machines. The initial investment for such equipment would cost millions of dollars.
Despite these barriers, the recent success demonstrates that probability can occasionally favor modest mining operations. The victory joins other notable solo mining achievements from 2024.
A solo miner struck block 883,181 in February, earning over $300,000 in rewards. Another independent operator mined block 899,826 in early June, collecting roughly $330,000. These wins highlight the lottery-like nature of solo Bitcoin mining.
Industrial Miners Scale Back Operations
Major Bitcoin mining companies reported reduced output during June. Riot Platforms, Cipher Mining, and MARA Holdings all decreased their mining activities. The companies reduced operations in Texas to avoid peak demand charges during expensive summer electricity periods.
The scaling back by industrial miners creates opportunities for smaller operators. However, the energy costs and infrastructure requirements remain prohibitive for most individual miners.
Chinese Influence Remains Strong Despite 2021 Ban
Chinese entities continue to dominate global Bitcoin mining despite the country’s 2021 mining ban. Between 55% and 65% of worldwide mining operations maintain links to Chinese capital, hardware, or expertise, according to Uminers CEO Batyr Hydyrov.
Key Chinese manufacturers adapted to the ban by relocating operations internationally. Bitmain, Canaan, and MicroBT produce 99% of Bitcoin mining hardware globally. These companies shifted production facilities to the United States to circumvent tariffs.
The relocation strategy has proven successful. America’s share of Bitcoin’s total hashrate increased from 4% in 2019 to 38% today. Former Chinese miners often expanded their capacity after moving abroad, with some operations growing by up to 150%.
Limited mining activity persists within China’s remote regions where enforcement remains lax. However, the majority of Chinese mining interests now operate through overseas facilities.
Disclaimer
The content shared on KryptoVaultDaily is for informational purposes only and does not constitute financial or trading advice. We do not offer guarantees and assume no responsibility for investment decisions based on the material provided. Always research and seek guidance from a licensed financial advisor before trading cryptocurrency or investing.
