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Solo Bitcoin mining earns lucky 263K USD
A Bitcoin miner [BTC] solo has achieved the rare feat of finding a block and receiving a 263K USD reward with a relatively inexpensive mining machine.
According to Con Kolivas, a developer in a solo mining group used by this miner, solo.CKPool Bitcoin, calls this a "one in a million" opportunity based on the type of compact mining machine used.
Kolivas said the miner used a Bitaxe machine with a power of 480-Gigahash per second (GH/s) and is the 297th solo miner to find a BTC block from this pool.
Miners have been rewarded with 3.15 BTC (worth 263K USD), including block rewards and transaction fees.
Miner's Coin Line
That's right, the money flow of BTC miners, one of the selling pressures on BTC, has decreased in March compared to the end of February.
On February 26, up to 21.6K BTC were transferred from miner wallets, selling pressure coincided with the first time BTC dropped below $90K.
The next major miner sell-off will take place on March 10, when 11.6K BTC will be sold, about half of the drop in late February.
In general, the mining pressure has decreased over the past two weeks and may provide enough room for BTC to recover.
Similar prospects are also confirmed by the Miners' Position Index (MPI), measuring whether miners are selling BTC and its potential impact on prices.
MPI has risen to a very hot area above 2 at the end of February, confirming the selling pressure pulling BTC below the previous bottom of 92K USD.
MPI has recovered slightly at the moment and may limit the BTC's upward momentum if it surpasses the 2 level once again. Meanwhile, BTC is priced at 84K USD, up 10% from the recent low of 76K USD, but faces a barrier at 85K USD.
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