Tiny Bitcoin miner defies massive odds to solve a valid block

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A single Bitcoin (BTC) miner from the Solo CK mining pool defied the odds after adding a new block to the Bitcoin blockchain, receiving 6.25 BTC ($ 266,000) for the bet.

A lucky miner, who may have only recovered one or two machines, managed to solve a block with a modest hash power of 126 Terahashes per second (TH / s). According to a Tuesday post from Solo Administrator Kon Colivas, this corresponds to approximately 0.000072% of the Bitcoin network’s total hash rate of 175,000,000 TH / s.

Hass McCook, a bitcoin mining expert and member of the Bitcoin Mining Council, told the Cointelegraph that he had never heard of anything like it, adding: “To say that it is very rare to say nothing.”

“Usually, having a hash rate of 0.000072% means that a Solo CK will win an average of 0.000072% of the blocks, or about 1 in 1,400,000,” he explained.

“In Bitcoin, everything is probable, even settlement of transactions. The more confirmations of a transfer, the less likely it will be canceled.”
Related topics: How to recover Bitcoin: A beginner’s guide to Bitcoin mining

According to McCook, a miner can use one machine. “The Antminer S19 is a 110 TH / s machine, so a Solo CK can mine even with an overclocked farm. There were most likely five or six Antminer S9 units. Anyway, it could be a home miner.”

Machine hash rate means the number of hashes or mathematical equations that can be solved per second. On average, a new block of bitcoins is extracted every 10 minutes. Colivas calculated that the odds are not very high: the chance of finding a block per day with a hash rate as one in 10,000, but added that the miner probably would not repeat the feat.

“For a miner, this is a once-in-a-lifetime opportunity,” Colivas wrote.

“Largest miners usually solve blocks statistically, but there is no reason why even the smallest miner can not solve them.”
He noticed that a small miner in his swimming pool about a year ago was unwrapping a block.

Source: CoinTelegraph

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