The individual rented the minimum 1 Petahash/s (PH) of hash power via Braiins hash power marketplace, which allows users to rent Bitcoin mining capacity directly from the company without needing to install or operate any physical hardware themselves.
Based on the current hash rate of the Bitcoin network, at that mining capacity, a success would only occur approximately every 1 out of 1.1 million blocks, or about 21 years’ worth of mining, according to estimates from SoloChance.com.
BREAKING
A miner just found a 3.125 BTC block using on-demand hashrate.
• 1 PH/s rented• 119k sats (~$75) spent• Block 938092• Worker: spiral• Hashpower fees: 0• Solo fee: 0.5% (CKPool open-source contribution)
Solo mining wins are rare, as most Bitcoin blocks are found and awarded to large mining pools that have dedicated massive amounts of computational power to solving cryptographic puzzles, which underpin Bitcoin’s public ledger and network.
A representative for Braiins did not immediately respond to Decrypt’s request for comment.
