• A bitcoin miner has recently earned a huge reward after being the first to add block 780,112 to the blockchain.
• The miner was lucky to have solved the complicated algorithms of this block in such a short period of time and with relatively limited computing power.
• He was able to do so with rented power from Nice Hash and the block contained more than 3000 transactions and close to 17,000 worth of BTC volume.

Lucky Bitcoin Miner Gets Huge Rewards

A bitcoin miner is getting a huge reward at the time of writing after beating out his fellow miners to add bitcoin block 780,112 to the blockchain. At press time, the person in question is receiving a total of $148,000 in BTC consisting of 6.25 BTC reward along with an additional fee payment of 0.63 in bitcoin for the work he’s completed.

Beating Out Fellow Miners

The miner beat the odds in many ways given how many others were working to resolve the complicated algorithms surrounding the block. A Twitter user mentioned just how lucky the miner was given how quickly he was able to do it, and that under normal circumstances a single person would have required much more time to place such a hefty block in circulation, especially as their computing power used was relatively limited by comparison.

Beginner’s Luck?

Not much is known about this individual but it is assumed that they likely haven’t been mining for very long and that much of this can be attributed, in a way, to beginner’s luck. The person had an average hashing power of 6.7 PH/s which equates to 0.002 percent of Bitcoin’s total hash rate at that time (308,262).

Renting Extra Power

The miner – who simply goes by ‘Pineconeeee’ – explained on an online forum that they were able rent extra power over one day through NiceHash service which resulted in them having 270 TH/s worth of computing strength available during their successful run at solving this particular block algorithm – five times more than what they usually use when mining solo!

Block Added To Chain

The resulting block added contains over 3,000 transactions and close to 17,000 worth of BTC volume – an impressive feat for any individual! Congratulations are definitely due for this lucky mining pro!