‘1 in a billion’: Second tiny miner solves a block

Two lucky miners from Solo CK have managed to add a new block to the Bitcoin blockchain in a remarkable turn of events.

A tiny miner solved Monday’s block with a modest hashrate capacity of 126 Terahashes per Second (TH/s). Hass McCook, a Bitcoin mining expert and member the Bitcoin Mining Council, told Cointelegraph that this was a one in 1,400,000 chance.

Solo admin Con Kolivas tweeted Jan 13 that he was able to solve the block with a maximum of 116 Terahashes per Second (TH/s). This is even more than the first miner. It is possible that there are only one to three mining equipment depending on what was used.

Kolivas stated that the new miner had joined the pool less then two days ago “presumably as a response to the other lucky block solutionr.”

He wrote, “They’ve been astronomically fortunate in solving a block alone in that time.”

“This is crazy luck at work and an extremely unusual event.”

“Insane luck” might be an understatement. McCook said to Cointelegraph that this is an unlikely event and that he doesn’t know how to mathematically calculate them.

He said that one in a million chances of a small miner succeeding was possible, so two success stories in just a few days would be less than one in a thousand.

Related: Tiny Bitcoin miner defies huge odds to solve valid block

McCook stated that McCook was the first to solve a block and that it was very rare.

Each miner, even if they were mining on one or two machines at a time, will be rewarded with 6.25 Bitcoin (BTC), ($266,000 for their efforts).

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Eileen Wilson

Eileen Wilson –Technology and Energy My Name is Eileen Wilson with more than 5 years of experience in the Stock market industry, I am energetic about Technology news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of topmagazinewire.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Technology and Energy category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.

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