Independent Bitcoin Miner Successfully extracts data from Block using $299 Mining Equipment
On March 10, an individual operating a home-based mining setup managed to mine Block #887,212 on the Bitcoin network using a Bitax miner, boasting a hash rate of 480 GH/s. This accomplishment yielded a reward of approximately 3.15 Bitcoin, equivalent to around $250,000.
According to Kon Kolivas, administrator of CKPool, the odds of achieving such a feat with a home setup of this hash rate are roughly one in a million. Computationally, it would take an average of 3500 years to Mine a block under these circumstances.
The miner employed six Bitax devices supplied by D-Central Technologies, totaling a hash rate of approximately 3.3 TH/s. The yielding device was one of the Ultra models, running on an Antminer S19XP ASIC chip by Bitmain.
More advanced and potent versions, Bitax Gamma and Supra, are constructed around the chip designed for the latest generation's Antminer S21. As stated by equipment vendor Altair, the cost of these devices varies from $169 to $299 in the United States.
Kolivas highlighted that pooling multiple miners improves the chances of success. In his view, overall computational power is the decisive factor in this instance.
To date, users of CKPool have successfully mined a total of 297 solo Bitcoin blocks, as emphasized by Kolivas.
It's noteworthy that this was the first reported solo mining of a Bitcoin block with a Bitax device, occurring in July 2024.
Bitax miners, such as the Bitaxe Touch, Bitaxe Gamma, and related models, offer hash rates ranging from 1.0 to 1.2 terahashes per second (TH/s) with power consumption between 15 and 20 watts. They are specifically designed for home use, solo mining, and employ open-source hardware and software.
The odds of solo mining a block at low hash rates are statistically low and more suited for educational purposes or hobbyists, rather than obtaining regular block rewards. Bitaxe is an open-source, community-driven project, encouraging experimentation and solo mining. However, no official or widely recognized first solo Bitcoin block mined by a Bitaxe miner has been documented to date.
The individual's home setup, utilizing a Bitax miner, showcases the intersection of Bitcoin and technology, as it successfully mined a block on the Bitcoin network. With the increasing availability of advanced Bitax miners like the Bitax Gamma and Supra, the chances of solo mining a block increase, making technology a significant factor in the future of Bitcoin mining.
