A solo Bitcoin miner recently scored a one-in-180 million chance when they got a chance to solve a pretty hefty block. And hefty it was, as their mining efforts netted them a reward of US$270,000 (~RM1.12 million).
At the time of writing, the value of a single Bitcoin is currently rated at RM362,944, their earning was about 3.146BTC. Their miner is believed to be an older generation ASIC miner, capable of mining at a speed of 6TH/s, and accounts for about 0.0000007% of the block.
Again, the miner was lucky; the pool was part of a solo pool that was created by Con Kolivas, and is said to be the 308th block ever mined by the pool, allowing the miner to keep the full reward, minus a fee.
Mining Bitcoin is a lot like playing the lottery or participating in a raffle system: The odds are greater and in your favour with more tickets. Hence, many miners often join bigger pools by well, pooling their resources and giving everyone a proportionate cut from solving a block. We say proportionate because, depending on whose miners are more powerful, those individuals tend to get the lion’s share, as it is their systems that are churning out the solutions.
