Solo Bitcoin Miner Solves a Block With Hash Rate of 10 TH/s
A solo Bitcoin miner with an average hashing power of just 10 TH/s (terahashes per second) emerged as the first one to add block 772,793 to the Bitcoin blockchain.
The odds of adding a block as a solo miner depend on the number of hashes the miner’s rig is computing per second in relation to the total number of hashes that all the machines on the network are computing each second.
Willi9974 wrote on the BitcoinTalk forum less than an hour after block 772,793 was solved, claiming that the solo miner had an average hash rate of 10.6 TH/s for the preceding hour.
The 10 TH/s represented the combined power of four machines. This means that the mining rig used by this lone miner consisted of four USB stick Bitcoin miners, which have a hash rate of about 3 TH/s and cost about $200 apiece.
The chances of this lone miner being the first to solve the block with a valid hash are one in 26.9 million, which means that if the identical conditions were repeated infinitely, the solo miner would add the block on average 0.000000037% of the time.
It is possible to determine the total estimated hash rate as 269,082,950 TH/s at the time the block was solved using the difficulty level mentioned in block 772,793 and the assumption that the solo miner’s setup was processing 10 TH/s.
98% of the total 6.35939231 BTC authorized as the block reward and fees went to the lucky miner as compensation. The other 2% was sent to Solo CK Pool, an online mining platform that enables solitary mining.
Subscribe to The Crypto Time for more Bitcoin Mining related News!!
