Bitcoin Miner With 86 TH Finds Valid Block

January 24, 2022 3:12 pm

It is the third time in less than ten days that a single bitcoin miner has discovered a correct block hash, allowing him or her to claim the entire coinbase prize. The little worker, who had a hashrate capacity of just roughly 86 terahashes per second (TH/s), was able to successfully mine a new block on the Bitcoin network, collecting a block reward of 6.25 bitcoins (BTC) plus fees of more than 0.30 bitcoins.

“Congratulations to another miner with approximately 86TH solving a solo block on http://solo.ckpool.org,” wrote Dr. Con Kolivas, administrator of the Solo CK Pool, in a Twitter message. A significant increase in the number of people mining alone has occurred recently, and if enough people do so, someone will inevitably be the lucky one, as has happened here.

It appears that the lucky miner had less than 10% of its average hashrate capacity on board when it was able to successfully mine a whole block, despite having approximately 86 TH/s of average hashrate capacity during the previous seven days.

As Kolivas pointed out in a reply tweet, “Note this miner had been varying the amount of hashrate they were mining solo with, and at the time they solved it only had 8.3TH on board,”

In the early hours of Monday morning, the single miner contributed block number 720175 to the Bitcoin network, earning more than $215,000 in unseizable hard money to jumpstart the workweek and begin the workweek.

Miners working alone in the CK Pool have been successful on more than one occasion over the previous few weeks. On January 11, a solo miner with 120 TH/s hit the jackpot when he successfully added a new block to the Bitcoin blockchain and received a reward worth more than $270,000 at the time, according to Bitcoin history. Only a few days later, another solo worker, this time with 116 TH/s, was able to find a valid block and earn over $260,000 in rewards when the block was officially added to the Bitcoin blockchain and the network.

As Kolivas clarified in another reply tweet, “To be clear, this is not a sentinel event, there is nothing wrong with proof of work, bitcoin is not broken, my solo mining service doesn’t have a back door to solve blocks faster. With enough miners mining, someone eventually solves a block, and it can be a miner of any size.” referring to the increased number of solo miners in his pool who have been able to add a new block.

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