WiremarketsBrief
Two Solo Bitcoin Miners Beat Million-to-One Odds to Win $230,000
Two solo Bitcoin miners won blocks worth over $230,000 each on November 7. Here is how their odds compare with a $2 Powerball lottery ticket.
Brief
Two independent Bitcoin miners each collected a reward above $230,000 on November 7 after solving blocks under seven hours apart. Both ran CKPool's solo mining service, which let them keep nearly the full payout instead of sharing it. The blockchain confirmed both wins, despite competition from some of the largest mining operations in the world. Mining works like a lottery, with thousands of machines competing and one winning roughly every ten minutes. For small operators, odds of about forty-to-one for a block within a year compare favorably with a Powerball jackpot ticket's 1-in-292 million, yet hardware costs thousands and running a multi-machine rig could mean $400 to $1,100 monthly in power. A solo miner may wait decades for a reward, though a single-machine operator found a block in April.
Why it matters: It shows solo miners using CKPool can still claim nearly full block rewards, even though the odds stay extremely low.
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