A remarkable event happened on the Bitcoin ($BTC ) network. A solo miner rented just $75 worth of hash power and successfully mined a block, earning over 3.1 BTC—roughly $200,000 in revenue.
The miner rented at least 1 Petahash/s (PH/s) via Braiins’ hash power marketplace. Considering the current network hash rate, the chance of finding a block with 1 PH/s is about 1 in 1.1 million blocks—equivalent to around 21 years of mining—earning it the nickname “Bitcoin lottery.”
Typically, most blocks are mined by large pools with massive computing power, making solo block rewards very rare. However, there have been similar wins recently: in January, two solo miners each earned 3.1+ BTC (~$300,000 at the time), and in December, another miner earned over $282,000.
These feats are even more impressive given the network’s growing power. The Bitcoin network now averages over 1.1 Zettahash/s daily, up from ~730 Exahash/s last year—a nearly 61% increase in just 12 months.