Blockchain

Bitcoin miner validates block and collects $ 260,000

Twice in the last few days individual small miners have managed validate a block yourself and collect them 6.25 BTC rewardD

How bitcoin mining works

Currently, the total current computing power allocated to Bitcoin mining worldwide is just under 200 Ehash/s.

Typically, the percentage of blocks mined by an individual miner is the percentage they hold of the total Hashrate, for a single miner to secure about 10% of mined blocks, he needs to have about 20 Ehash/s.

Since it is impossible for a single small miner to reach these numbers, there are usually only two options:

  • Share your little computing power with other miners by participating in a pool,
  • invest huge sums Build a mega mining farm.
A lone miner single-handedly mined a block of bitcoin

The miner alone validates a bitcoin block

However, a few days ago, a single miner with just 126 thash/s, or 0.000126 ehash/s, managed to mine a block single-handedly and collect the prize of 6.25 BTC.

That was revealed through Con Kolivas, administrator of the pools solo.ckpool.org, by linking to the 718.124 block tab in an explorer showing Solo CK as a block miner.

Previously, the same thing appears to have happened on December 2, 2021 with block 712,217.

What is really surprising is that 126 thash/s is only 0.000073% of the total Bitcoin hashrate, so statistically this single miner should have been able to mine one in 1.3 million blocks. Instead, he succeeded, even though the total number of blocks mined on Bitcoin in 13 years is just over half that.

Additionally, only a little over 52,000 blocks are typically mined in a single year on the Bitcoin blockchain, so the chances of success are slim at 0.000073% of the hashrate.

The miner now has to pay for the pool a 2% fee, but can keep the remaining 6,125 BTC, which is roughly $260,000.

It’s not known how much he spent on power or how much he had to invest to get 126 thash/s, but a state-of-the-art 140 thash/s ASIC costs around $11,000. So it seems quite likely that the miner made a lot of money from this operation.


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