1 In 10,000 Chance: Tiny Miner Added a New Bitcoin Block
One Bitcoin miner from the Solo CK mining pool with the hashing power of only 126 TH/s received 6.25 BTC ($266,000) after successfully adding a new block to the Bitcoin blockchain.
According to Solo administrator Dr Con Kolivas, the hash power of the lucky one is approximately 0.000072% of the total hash rate (175 EH / s) of the Bitcoin network.
According to Bitcoin mining expert and Bitcoin Mining Council (BMC) member Hass McCook, often 0.000072% of the hash rate means that on average such a miner will add 0.000072% of the blocks or roughly 1 in 1,400,000.
McCook added that this miner could use only one 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.
The hash rate of a machine means how many hashes or mathematical equations it can solve in a second. On average, a new BTC block is mined every ten minutes.
According to Dr Con Kolivas’s calculations, the chance to mine a block with such a miner’s performance was only 1 in 10,000, and an opportunity like this occurs once in a lifetime.