Insane Luck: Another Small Miner Pockets $270K BTC Block Reward Against All Odds

Original author: George Georgiev

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Another miner using measurably less hashrate compared to big mining operations defied astronomical odds and managed to mine a block on Bitcoin’s network, pocketing the 6.25 BTC reward, currently worth slightly more than $270K.

• This Tuesday, as reported by CryptoPotato, an individual or an organization with a computing power of just 126 terahashes per second managed to win the block race and receive the 6.25 BTC reward.
• Back then, Dr. Con Kolivas, who worked on the development of a cryptocurrency mining software called CGMiner, said that the chances of finding a block per day with such a small hashrate were 1 in 10,000.
• The miner solving the block was on a solo mining pool operated by CK Pool.
• Now, less than two days later, another small miner from the same pool using even less computing power (116 TH/s) was also able to mine a block.
• Kolivas also added that this is a new miner that “joined less than 2 days ago, presumably in response to the other lucky block solver, so they’ve been astronomically lucky in solving a block solo in that time.”

… if enough solo miners do it for long enough, then statistically someone is going to find a block. This time, the person was insanely lucky to find one so soon, but it’s all within expectations of normal variance. – he added.