12 Jan Small Bitcoin Miner Beats the Odds and Gets 6.25 BTC Reward
In what can be described as an uncommon scenario, a small bitcoin miner got the block reward of 6.25 BTC.
An individual with computing power of just 126 terahashes per second (TH/s). The solo miner, even with the small hashing power, was able to win the block race and receive the 6.25 BTC reward.
The event occurred on Tuesday (January 11, 2022) at block height 718,124, with the miner solving the block on a solo mining pool operated by ckpool. The Solo CK ranks 14 on the BTC Pools ranking. Meanwhile, the lucky entity had only about 0.000073% chance of mining a block.
According to a tweet from Dr. Con Kolivas, who worked on the development of the CGMiner, a cryptocurrency mining software, the chances of finding a block per day with such a small hashrate was 1 in 10,000.
While Kolivas noted that such an event happened once in a lifetime, the software engineer said that another such small miner solved a block on the crypto pool a year ago. He added that it was usually larger miners that were known to solve blocks.
The solo miner’s reward of 6.25 BTC is worth over $267,000, going by the current price of bitcoin at the time of writing. While two percent of the BTC reward goes to the platform, the miner also got the transaction fee reward of 0.1 BTC ($4269).
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