A lone miner solved a bitcoin block and won $250,000

The lone miner beat out entire PC farms dedicated to solving blocks and earned 6.35 bitcoin .

A small user with a standard computer has managed to solve a bitcoin block in the midst of other “competitors” willing to complete computer farms and has won 6.35 bitcoins , which amounts to more than 250 thousand dollars with the value of the coin above of 40 thousand dollars.

The little miner managed to decrypt block 718124 of the bitcoin blockchain the chain that stores all the world’s cryptocurrency transactions , with a mining power of only 126 TH/s. By comparison, there are mining farms that can work up to 23 million TH (terahash) per second.

one in ten thousand

The announcement was made by developer Con Kolivas, who claims that the man had a probability of verifying the block of 1/10,000.

Bitcoin mining is done by performing complex calculations that computer graphics cards can perform. To have a better chance of finding the answers, users create farms of cards linked together, to add more terahash and choose to solve the block. For each solved block, the system rewards the wallet that made the operation with more than 6 bitcoins. From 2024, this number will be reduced to just 3.

As mentioned by Kolivas, the lonely miner had to operate for 10 thousand consecutive days (27.39 years) to have the probability of finding a block yes or yes with his small computer.

It’s the second time this year that a small, low-odds rebel has scooped up the jackpot. In July 2021, another miner with an operation of only 100 TH / s, solved the block 689,382 of the blockchain to win a similar prize.