🎓 Explain Like I'm 10
Someone spent a small amount of money to rent mining power from NiceHash for a short time. They pointed it at the Bitcoin network solo, hoping to win the lottery.
On Jun 9, 2024, against enormous odds, they hit the jackpot — block #847,193 worth $249,251. The cost of renting that hashrate? A fraction of the reward.
🎲 The Odds — Show Your Work
Miner's share of total Bitcoin hashrate
0.018004%
Miner: 183.8 PH/s vs Network: 1020.75 EH/s
Miner hashrate (Estimated from block frequency (12 blocks found))
183.8 PH/s
Bitcoin network hashrate
1020.75 EH/s
Chance of winning each block
1 in 5,554
Expected wait time at this hashrate
39 days
Expected blocks to find 1 solo block
5,554 blocks
Probability per block = miner_hashrate / network_hashrate
= 183.8 PH/s / 1020.75 EH/s
= 1 in 5,554
Expected wait = blocks_to_win × 10 minutes
= 5,554 × 10 min = 1.3 months
⛏️ Miner Profile
Hashrate (24h)
183.8 PH/s (est. from 12 blocks)
Estimated from block frequency (12 blocks found)
Solo blocks found (tracked)
12 blocks
🏗️
Large mining farm
Thousands of ASICs, industrial power
🎯 The Winning Number — Nonce Visualizer
To mine a block, the miner cycles through numbers from 0 to 4,294,967,295 at billions per second, checking if each produces a valid hash. Number 3,438,530,492 was the winner.
03,438,530,492 ← winner4,294,967,295
3,438,530,492
Winning Nonce
856,436,803
Numbers after
💡 The miner also tried different extra nonce values — restarting from 0 each time the full 4.29B range was exhausted. Modern ASICs can cycle through the entire nonce space in ~0ms.
💸 Fee Breakdown — What the Miner Captured
The block reward has two parts: a fixed subsidy set by Bitcoin protocol, plus transaction fees paid by users who wanted their transactions included.
Subsidy — 3.1250 BTC (84.73%)
Fixed reward, halves every 4 years
Fees — 0.563238 BTC (15.27%)
From 3,466 transactions in this block
⚡ Solo miners keep 100% of fees — no pool takes a cut. In pool mining, the fee revenue is also split among all pool members.
🏆 Miner Block History — 12 Blocks Found
$4,279,506
Total USD value
24 days
Avg between finds
Dec 17, 2023 · 21:08 UTC · NiceHash EasyMining
8.4370 BTC ≈ $570,172
Dec 18, 2023 · 02:01 UTC · NiceHash EasyMining
9.1730 BTC ≈ $619,908
⏱ 0 days since previous find
Dec 24, 2023 · 14:51 UTC · NiceHash EasyMining
7.1802 BTC ≈ $485,236
⏱ 7 days since previous find
Dec 30, 2023 · 04:50 UTC · NiceHash EasyMining
8.1371 BTC ≈ $549,908
⏱ 6 days since previous find
Jan 2, 2024 · 12:34 UTC · NiceHash EasyMining
7.3171 BTC ≈ $494,492
⏱ 3 days since previous find
May 16, 2024 · 06:51 UTC · NiceHash EasyMining
3.2829 BTC ≈ $221,859
⏱ 135 days since previous find
May 26, 2024 · 01:05 UTC · NiceHash EasyMining
3.2310 BTC ≈ $218,354
⏱ 10 days since previous find
#847,193THIS BLOCK
Jun 9, 2024 · 13:59 UTC · NiceHash EasyMining
3.6882 BTC ≈ $249,251
⏱ 15 days since previous find
Jun 17, 2024 · 03:57 UTC · NiceHash EasyMining
3.2823 BTC ≈ $221,819
⏱ 8 days since previous find
Jul 31, 2024 · 15:53 UTC · NiceHash EasyMining
3.2717 BTC ≈ $221,101
⏱ 44 days since previous find
Aug 11, 2024 · 20:41 UTC · NiceHash EasyMining
3.1508 BTC ≈ $212,932
⏱ 11 days since previous find
Sep 1, 2024 · 13:58 UTC · NiceHash EasyMining
3.1736 BTC ≈ $214,473
⏱ 21 days since previous find
📊 At 183.8 PH/s hashrate, statistically expected to find a block every 39 days. Actual average: 24 days. 🍀 Running hot!