Crypto News – After defying the odds and resolving block 803,821, a very fortunate Bitcoin miner has just received the full 6.25 Bitcoin reward. Using the Solo CKpool mining service, the incident happened on August 18.
Luckiest Bitcoin Miner of All Time Wins $160.000 Bitcoin Block Prize
The miner, known as bc1q2za4ejga366sn288273pty8trasn5zs4y9hqg6, earned around $160,000 in today’s money, less a 2% fee that goes to the mining pool. Con Kolivas, who is in charge of the Solo CKpool, congratulated the victor.
He estimated that the miner’s hash rate was about 1 PH/s (petahash per second), which is considerably less than what the biggest commercial-scale Bitcoin mining pools claim. Although the majority of miners have processing power capacity in the Exahash (EH/s) range, an individual miner with only a few Petahash finds themselves at a significant disadvantage.
10 or More Machines May Have Been Used to Solve the Block
Kolivas estimates that with the current Bitcoin mining difficulty, which is close to an all-time high of 52.39 trillion, a miner of this size would only be able to solve a block by themselves around once every seven years. In order to solve the equation and win the prize, the successful miner may have employed 10 or more Antminer S17 Bitcoin mining machines, he continued.
About Bitcoin Mining
A crucial mechanism that verifies transactions, secures the network and creates new Bitcoin into circulation, mining is at the center of the Bitcoin network. It is a computational effort that makes use of powerful computers to resolve challenging mathematical questions. The winning miner will get the opportunity to add a new block of transactions to the blockchain by competing to solve these challenges.