Today in crypto: a solo Bitcoin miner earned 3.146 BTC worth $266,000 with a computing power of only 1.2 TH/s, Bitcoiners have expressed excitement over the surging odds of a US Federal Reserve rate cut in December. Meanwhile, a former Coinbase lawyer launched his campaign for New York State Attorney General.
‘Extremely lucky’ solo Bitcoin miner beats massive odds to win $266K
A solo Bitcoin miner hit the jackpot on Friday, earning 3.146 BTC, worth roughly $266,000, after solving block 924,569 with only a tiny fraction of the computational power typically needed to win a block reward.
The miner, who is believed to be operating a hobby-grade machine, struck gold with a hash rate of roughly 1.2 terahashes per second (TH/s), which is a speck of dust in an industry dominated by industrial-scale operations producing exahashes (one quintillion hashes per second).
CKpool creator Con Kolivas announced the win on X, congratulating the “extremely lucky” miner and noting just how improbable the event was. He estimated that the odds translate to about 1.2 million to one per day at the miner’s reported hash rate.
The miner received 3.125 Bitcoin (BTC) from the block subsidy plus 0.021 BTC in transaction fees, bringing the total to just over 3.146 BTC, according to onchain data.
Bitcoiners perk up as odds of a December Fed rate cut almost double
Bitcoiners were noticeably more upbeat on social media today as the odds of a US Federal Reserve rate cut in December nearly doubled compared to just a day earlier.
Some crypto market participants are speculating that this could be the catalyst Bitcoin needs to halt the asset’s downward trend.
“Let’s see if that’s enough to find a bottom here for now,” crypto analyst Moritz said in an X post on Friday, as Bitcoin’s price trades at $85,071, down 10.11% over the past seven days, according to CoinMarketCap.
On Friday, the odds of an interest rate cut at the December Federal Open Market Committee (FOMC) meeting almost doubled to 69.40%, according to the CME FedWatch Tool. Just the day before, on Thursday, it was nearly 30.30% lower, at 39.10%.
Many in the wider market attributed the spike at least partly to dovish remarks from New York Fed president John Williams, who said the Fed can cut rates “in the near term” without endangering its inflation goal. Bloomberg analyst Joe Weisenthal said it was the reason the odds have “massively increased.”
Ex-Coinbase attorney to run for New York Attorney General
Former Coinbase policy lawyer Khurram Dara has launched his campaign for New York State Attorney General, setting up a 2026 challenge to incumbent Letitia James.
In his announcement Friday, Dara pointed to his “regulatory and policy experience, particularly in the crypto and fintech space,” as key qualifications for the role.
As previously reported by Cointelegraph, Dara had been signaling a potential run since August, arguing that James has unlawfully targeted the crypto industry in New York.
After leaving Coinbase, Dara worked at Bain Capital Crypto — a digital-asset–focused arm of the investment firm — until at least July.
Since taking office in 2019, James has faced criticism from the cryptocurrency community for initiating enforcement actions against companies, including Genesis and KuCoin.
