Independent miners mined 3.3 BTC, the fourth time the "Lotto Miner" has won since July

Original title: "Bitcoin miner mines 3.3 BTC alone! Has the "lottery mining machine" had 4 miracles since July?"

Original author: James, BlockTempo

According to mempool data, an independent miner mined Bitcoin block 867118 at 17:18 on the 24th through the independent mining pool Solo CKPool, and obtained 3.329 BTC (block reward + handling fee), worth about 222,000 US dollars.

It is worth noting that this is the fourth time since July that an independent miner has mined a block reward (the first, second, and third time), and has received a rich reward from the Bitcoin network.

The first incident occurred on July 24 this year, when Altair Technology, a manufacturer of lotto mining machines, claimed that an independent miner used its Bitaxe series of machines and mined about $210,000 worth of Bitcoin through Solo CKPool. Compared with the price of this model, which is only about $135 to $265, the return on investment is extremely high.

According to the official website, Solo CKPool adopts the "single-machine mining" model, unlike traditional mining pools that concentrate computing power and then distribute profits according to contribution ratios. In Solo CKPool, each participant mines independently. If a block is mined, the miner can get all the block rewards alone without sharing with other miners.

How low is the chance of winning?

Currently, the total Bitcoin network computing power is 677.32 EH/s, but the CKPool computing power is only 332 PH/s, accounting for only 0.049% of the entire Bitcoin network computing power. In addition, the mining pool may be composed of hundreds of thousands to millions of mining machines, so the probability of a single mining machine successfully mining a block is extremely low. The miner who mined Bitcoin block 867118 on the 24th was extremely lucky.

Bitcoin network computing power

It is not clear what type of mining machine this miner uses and what its computing power is, but assuming that the miner is using an Antminer S19 XP with a computing power of 140 TH/s, this means that the network computing power is 4,838,000 times that of the mining machine, so the mining machine has only about a 0.0000206% chance of successfully mining a block every 10 minutes (per block).

If the miner uses a Bitaxe Lotto mining machine with a computing power of only 500 Gh/s, the chance of winning is only 0.0000000738%. According to the official website of Taiwan Lottery, the chance of winning the Grand Lotto jackpot is about 1 in 13.98 million, or 0.00000715%, which means that the chance of a miner successfully packing a block is even harder than winning the Lotto.

The frequency of winning in the recent "try your luck" stand-alone mining mode seems to have increased, but for ordinary people who want to participate in Bitcoin mining, it is usually more appropriate to join a traditional mining pool, which can merge the computing power with that of other miners to obtain part of the rewards stably.

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