Home Bitcoin News Bitcoin Mining Bitcoin miner beats 1 in 1.3 million odds to mine a BTC block – The Block Crypto

Bitcoin miner beats 1 in 1.3 million odds to mine a BTC block – The Block Crypto

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A solo bitcoin (BTC) miner with solely 126 terahashes per second (TH/s) of computing energy has grow to be the unlikely winner of a block race on the Bitcoin community.

By efficiently mining block 718,124, the fortunate miner secured the 6.25 BTC block reward, which is about $260,000 on the present bitcoin worth.

With solely 126 TH/s in computing energy, the fortunate miner managed solely 0.000073% of the whole bitcoin hash charge, which is over 170 exahashes per second (EH/s). 1 EH/s is the same as 1 million TH/s. As such, the miner solely had a 1-in-1.36 million likelihood of ever efficiently discovering a block.

The entire main bitcoin mining swimming pools boast hashing potential within the EH/s vary with the likes of AntPool and Poolin controlling 26.30 EH/s and 22.19 EH/s as of the time of writing. Whereas it isn’t identified how lengthy the mining node has been on the community, if it was plugged at this time, it could have taken over 9,500 days for a miner with solely 126 TH in hashing energy to statistically win the block race primarily based on the present hash charge and issue.

Luck or proof-of-work

Describing the feat, The Block Analysis’s Wolfie Zhao tweeted:

“That is enjoyable. Successful full bitcoin block rewards with solely 0.000073% of the present whole hash charge. Both extraordinary luck or persistent proof-of-work, or each.”

The fortunate miner in query is a part of a solo mining pool operated by ckpool, which implies 2% (0.125 BTC or $5,200) will go to the platform’s coffers. The miner may even earn the transaction payment reward for the block which is about 0.1 BTC, in line with information from BTC.com.

The solo mining pool permits operations to make use of their very own mining gear to mine new blocks. But it surely offers a service for them that gives features resembling operating the Bitcoin blockchain on their behalf. Therefore, it rewards these mining with all of their rewards — minus a payment — relatively than sharing the entire rewards proportionally between these utilizing the pool.

The final time a ckpool miner gained the block race was on December 2, 2021, at block peak 712,217. Based on BTC.com information, ckpool ranks quantity 15 on the record of bitcoin mining swimming pools primarily based on hash charge share with a complete computing energy of 410.96 petahash per second (PH/s)

For the miner concerned it is a as soon as in a lifetime likelihood. Final time a miner this small solved a block on my pool was solely a yr in the past although. It is often bigger miners that clear up blocks statistically however there is no such thing as a purpose even the smallest miner cannot clear up one,” tweeted Dr. Con Kolivas, an admin of ckpool.

Whereas main bitcoin miners continue to increase their hashing potential, Tuesday’s occasions present that it’s nonetheless statistically potential for even smaller entities to win the mining race for a transaction block on the community.

© 2021 The Block Crypto, Inc. All Rights Reserved. This text is offered for informational functions solely. It isn’t supplied or supposed for use as authorized, tax, funding, monetary, or different recommendation.

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