A solo miner using Solo Ckpool recently managed to mine Bitcoin block 814,308. They achieved this feat with just 11 petahash per second (PH/s) of mining power, demonstrating that luck and timing can triumph over sheer computational force. Con Kolivas, the developer behind Solo Ck...
A solo miner using Solo Ckpool recently managed to mine Bitcoin block 814,308. They achieved this feat with just 11 petahash per second (PH/s) of mining power, demonstrating that luck and timing can triumph over sheer computational force. Con Kolivas, the developer behind Solo Ckpool, announced the surprising discovery, according to bitcoin.com.
Solo Ckpool is designed to help individual miners with lower hash rates or outdated hardware to still participate in Bitcoin mining. Despite having an overall hash power of 3.1 exahash per second (EH/s), Solo Ckpool allows its miners to potentially claim 99% of a block's reward when they successfully mine it. This leaves other pool miners empty-handed but greatly incentivizes solo efforts.
Kolivas also provided fascinating statistics about the improbability of such an event. A miner with 1 PH/s has an average luck of striking a block once every seven years. Yet this year alone, several blocks have been found by solo miners using the platform. Remarkably, another miner previously managed to find a block with only 1 PH/s, and even one with a meager 17 terahash per second (TH/s) using an old Bitmain S9 unit.
Not just small players but also solo miners with substantial hash rates have found success. In March 2023, a miner with 1 EH/s not only discovered block 782,845 but also quickly found another, block 782,867. These events are rare but seem to be happening more frequently, shedding light on the random and unpredictable nature of Bitcoin mining.
In a world dominated by massive mining pools, these instances stand out as a testament to the unpredictability and sheer excitement that solo mining can offer. It's akin to winning the lottery, where having multiple tickets doesn't always guarantee a win. The unique structure of platforms like Solo Ckpool enables solo miners to continue to carve their own path in the Bitcoin mining landscape, despite the overwhelming dominance of larger pools.