Tiny Bitcoin miner defies massive odds to solve a valid block

A
single
Bitcoin
miner
from
the
Solo
CK
mining
pool
has
defied
the
odds
after
successfully
adding
a
new
block
on
the
Bitcoin
blockchain,
taking
home
6.25
BTC
($266,000)
for
their
efforts.

The
lucky
miner,
who
may
have
been
mining
on
just
one
or
two
machines,
solved
a

block

with
their
modest
hashrate
capacity
of
126
TH/s.
According
to
a
Jan
11

tweet

from
Solo
admin,
Dr.
Con
Kolivas
it’s
equivalent
to
about
0.000072%
of
the
total
Bitcoin
(BTC)
network
hashrate

which
is
175,000,000
TH/s
(175
EH/s).

Bitcoin
mining
expert
and
member
of
the
Bitcoin
Mining
Council
(BMC)
Hass
McCook
told
Cointelegraph
that
he
has
never
heard
of
anything
like
it,
adding
that
“to
say
this
is
very
rare
is
an
understatement.”

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

“Everything
in
Bitcoin
is
probabilistic,
even
transaction
settlement.
The
more
confirmations
you
have
on
your
tx,
the
less
likely
it
will
be
reversed.”



Related:




How
to
mine
Bitcoin:
A
beginners
guide
to
mine
BTC

According
to
McCook,
the
miner
could’ve
been
using
a
single
machine.
“The
Antminer
S19
is
a
110TH/s
machine,
so
Solo
CK
could
have
even
been
mining
with
just
one
overclocked
rig!
More
likely
it
was
5
or
6
Antminer
S9
units.
Either
way,
it
could
very
easily
be
a
home
miner,”
he
said.

A
machine’s
hashrate
refers
to
how
many
hashes,
or
mathematical
equations,
it
can
solve
per
second.
On
average,
a
new
BTC
block
is
mined
every
ten
minutes.
Dr.
Con
Kolivas
estimated
the
chances
weren’t
quite
so
high, 
with
a
1
in
10,000
chance
of
finding
a
block
per
day
with
that
hasbut
added
the
miner
probably
wouldn’t
repeat
the
feat.

“For
the
miner
involved
it’s
a
once
in
a
lifetime
chance,”
Kolivas
wrote.

“It’s
usually
larger
miners
that
solve
blocks
statistically
but
there
is
no
reason
even
the
smallest
miner
can’t
solve
one.”

He
noted
a
small
miner
in
his
pool
had
solved
a
block
about
one
year
ago.

read original article here