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A solo Bitcoin miner utilizing a comparatively cheap, pocket-sized crypto mining rig has solved 1 of the blockchain’s blocks and earned the afloat $263,000 reward.
The miner became the 297th solo miner to excavation a Bitcoin artifact from the solo.ckpool Bitcoin (BTC) mining pool, its developer, Con Kolivas, said successful a March 10 X post.
He added the miner utilized a 480-gigahash per 2nd (GH/s) Bitaxe machine. For comparison, galore large crypto-mining companies use machines that tin run astatine implicit 230,000 GH/s.
“A miner of this size has lone little than a 1 successful a cardinal accidental of uncovering a artifact per day, oregon enactment alternatively, would instrumentality 3,500 years to find a artifact connected average,” Kolivas added.
The miner snared a full of 3.15 BTC for solving artifact 887,212, which was timestamped connected March 10 astatine 7:22 p.m. UTC. That bounty includes the current 3.125 Bitcoin mining reward and different 0.025 Bitcoin from transaction fees, mempool.space information shows.
Source: Con Kolivas
A 1,200 gigahash Bitaxe Gamma 601 machine, which is astir 3 times much almighty than the 1 utilized by the solo miner, is priced astatine astir $158, according to Bitcoin miner marketplace ASIC Miner Value.
ASIC Miner Value estimates that the Bitaxe Gamma 601 volition marque conscionable implicit $20 a twelvemonth portion utilizing astir $18 worthy of electricity, coming retired to a yearly nett net of nether $3.
The Bitaxe Gamma 601 is astir the size of a smartphone. Source: ASIC Miner Value
It besides states the likelihood of the Bitaxe Gamma 601 mining a solo artifact connected immoderate fixed time is 1 successful 4.6 million, oregon 1 successful 12,700 implicit a year.
Related: Solo miner snags Bitcoin artifact reward worthy $300K
Solo Bitcoin miners seldom lick blocks, fto unsocial those with tiny mining rigs.
Most Bitcoin is mined from the larger pools specified arsenic Foundry USA — which obtains a ample stock of its hashrate from nationalist Bitcoin miners similar Cipher Mining, Bitfarms and Hut 8.
The largest nationalist Bitcoin mining steadfast by marketplace headdress and hashrate, MARA Holdings, uses its ain Bitcoin mining pool, MARA Pool.
While pocket-sized Bitcoin miners are hardly profitable, immoderate of these micro miners are being built successful an open-source manner to combat the “secrecy and exclusivity” of the Bitcoin mining industry, 1 of the builders of Bitaxe miners, “Skot,” told Cointelegraph successful a September 2023 interview.
Most Bitcoin miners, specified arsenic those made by Bitmai,n are closed-sourced, which runs contrary to Bitcoin’s ethos, Skot said.
“The advent of these open-source projects serves to shed airy connected this often opaque area, making it much transparent and accessible to the public.”Magazine: Train AI agents to marque amended predictions… for token rewards
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