- Once upon a time, a cheeky Bitcoin solo miner snagged a whopping $263K with a teeny-tiny rig! 🎉
- In March, the miner sell pressure took a nap, giving BTC a chance to bounce back! 💤
In a world where giants roam, a solo Bitcoin [BTC] miner pulled off a spectacular feat, finding a block and pocketing a jaw-dropping $263K reward with a rig so small, it could fit in your pocket! Talk about a lucky charm! 🍀
According to the wise Con Kolivas, a developer at the solo mining pool, this was a “1 in a million chance” for our pint-sized hero. Imagine that! A chance so slim, it’s like finding a needle in a haystack, or a chocolate in a broccoli! 🥦🍫
“A miner of this size has only less than a 1 in a million chance of finding a block per day, or, to put it another way, it would take 3,500 years to find a block on average. Yikes!”
Kolivas revealed that our brave miner wielded the 480-Gigahash per second (GH/s) Bitaxe machine and was the 297th solo miner to strike gold from the pool. What a lucky number! 🍀
With a treasure of 3.15 BTC (worth $263K), including block rewards and transaction fees, this miner is now the talk of the town! 🏆
Miner flows
But wait! The BTC miners’ flow, which was once a roaring river of selling pressure, has calmed down in March compared to the wild waters of late February. 🌊
On the 26th of February, a staggering 21.6K BTC was sent from miner wallets, causing quite the ruckus as BTC dipped below $90K for the first time. Oh dear! 😱
The next big sell-off happened on the 10th of March, with 11.6K BTC sold, which was about half of the late February frenzy. Talk about a rollercoaster ride! 🎢
Overall, miner pressure has eased over the past two weeks, giving BTC a little breathing room to bounce back. Hooray! 🎈
The Miners’ Position Index (MPI), which is like a crystal ball for gauging miner behavior, confirmed this outlook. It jumped to an overheated area above 2 in late February, dragging BTC down below its former range-lows of $92K. Oh, the drama! 🎭
As of now, the MPI has recovered a smidge and could cap the BTC upside if it surges beyond 2 again. Meanwhile, BTC is valued at $84K, up 10% from recent lows of $76K, but it’s facing a pesky hurdle at $85K. What a cheeky little number! 😜
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2025-03-12 19:07