With Just 0.0004% of Bitcoin’s Hashpower, Solo Miner’s 2 PH/S Effort Secures Block Reward

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On November 26, 2023, a stroke of remarkable luck befell a solo miner when they discovered block 818,588, verifying a total of 4,193 transactions. This achievement garnered the miner a total of 6.887 BTC, inclusive of the 6.25 BTC subsidy and transaction fees.

Solo Miner’s Slim Odds Pay Off: Claims Bitcoin Block Reward With Mere 2 PH/s Hashrate

Echoing a similar event from the end of October, this miner, also affiliated with Solo Ckpool, successfully mined the block. Ckpool is designed to support independent miners, allowing them to retain the entire block reward, unlike other pools where rewards are shared.

Con Kolivas, the developer overseeing Solo Ckpool, remarked that this was the 279th block successfully mined by the pool. He noted the rarity of such an event, stating, “A miner of this size would solve a block on average only once every 5 years,” underscoring the miner’s extraordinary luck in this instance.

For context, the Bitcoin network’s total hashpower stands at approximately 488 exahash per second (EH/s), or 488 quintillion hashes per second. In comparison, the solo miner’s contribution of 2 PH/s, or 2 quadrillion hashes, represents a mere 0.0004% of the network’s collective hashpower, highlighting the improbability of their success.

What do you think about the solo miner discovering a block with such a small amount of hashrate? Share your thoughts and opinions about this subject in the comments section below.