Solo miner mined a block of BTC and earned $206 000

The capacity of the Bitaxe device used by the network participant is only 500 Gh/s

25.07.2024 - 08:50

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2 min

What’s new? A miner with a device with a hashrate of only 500 Gh/s mined an entire block of bitcoin on July 24 and earned about $206 000. The network’s total hashrate is now 651,96 Eh/s or 651 960 000 000 000 Gh/s — more than 1,3 billion times the power of the Bitaxe firm’s device that a solo miner used.

Source: X.com

What else is known? Thus, the chances of a solo miner mining an entire block are only 1 in 1,3 billion every 10 minutes (which is the interval at which new blocks are released on the Bitcoin network).

The device was connected to Solo’s node infrastructure service CKPool, which allows solo mining of cryptocurrency. According to on-chain data, the block 853 742 mined by the solo miner was produced by Solo CKPool. However, despite the name, the service’s team emphasizes that Solo CKPool is not a pool.

Bitaxe is a device smaller than the palm of your hand, on YouTube some reviewers call it the most powerful ASIC miner among small devices with a single chip.

Last March, a single miner mined an entire block of BTC in two days with a 6,7 PH/s device and earned $137 000. This power is significantly higher than the Bitaxe device, but even then experts called the event “very luck.”

In October, a miner with an 11 PH/s device also mined an entire block and earned $217 300 on the CKPool platform for single miners with low hashrate and outdated hardware.

In April this year, a 120 PH/s hashrate miner also mined a block and earned $200 000 on CKPool’s Solo platform. Its capacity is 240 times that of Bitaxe. This event took place after the fourth halving of the bitcoin network, during which the reward for mining a block was again cut in half on April 20: to 3,125 BTC.

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