Solo miner with a 480 GH/s device solved an entire block of Bitcoin blockchain and earned $263 000

Industry participants with such low-powered devices have extremely low chances of single block mining

12.03.2025 - 13:30

3 min

What’s new? A solo-miner with a pocket bitcoin mining rig single-handedly solved an entire block of the Bitcoin blockchain and received the full $263 000 reward. He became the 297th solo miner to mine an entire block within the Solo CKPool, its developer Con Kolivas said.

Source: X.com

What else is known? The miner used a Bitaxe device with a hashrate of 480 GH/s. In comparison, many large mining companies use machines with over 230 000 GH/s.

“A miner of this size has only less than a 1 in a million chance of finding a block per day, or put alternatively, would take 3500 years to find a block on average,” Kolivas added.

Solo miner mined a block of BTC and earned $206 000 — his odds were 1 in 1,3 billion

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

The miner earned a total of 3,15 BTC for solving block number 887 212, which was released on March 10 at 19:22 UTC. The payout includes a mining reward of 3,125 BTC and another 0,025 BTC in transaction fees, according to mempool.space.

A 1200 GH/s Bitaxe Gamma 601 device, which is nearly three times more powerful than what the solo miner used, costs about $158. According to the miner marketplace, ASIC Miner Value, the Bitaxe Gamma 601 will earn just over $20 per year while consuming about $18 of electricity, yielding an annual net profit of less than $3. The probability that Bitaxe Gamma 601 will mine a solo block on any given day is 1 in 4,6 million.

Solo miners rarely single-handedly solve blocks, especially those using low-powered rigs. Most bitcoins are mined in large pools such as Foundry USA, which gets a large share of hashrate from exchange-traded, large-cap miners such as Cipher (CIFR), Bitfarms (BITF), and Hut 8 (HUT8).

The largest miner by market capitalization and hashrate, Marathon Digital (MARA), uses its own mining pool, MARA Pool.

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