One of the blockchain’s blocks has been cracked by a lone Bitcoin miner using a reasonably priced, portable crypto mining device, earning them the entire $263,000 prize.
By mining a Bitcoin block from the solo.ckpool Bitcoin BTC, the miner became the 297th solo miner to do it.
Con Kolivas, the company that developed the $82,457 mining pool, stated as much in an X post on March 10.
He claimed that the miner’s Bitaxe machine produced 480 gigahashes per second (GH/s). In contrast, several large cryptocurrency mining firms have equipment capable of operating at over 230,000 GH/s.
“On average, a miner of this size would take 3,500 years to find a block, or less than a one in a million chance of finding a block every day,” Kolivas continued.
In order to solve block 887,212, which was timestamped on March 10 at 7:22 p.m. UTC, the miner was able to obtain a total of 3.15 Bitcoin. According to statistics from mempool.space, the prize consists of the current 3.125 Bitcoin mining incentive as well as an additional 0.025 Bitcoin from transaction fees.
According to the Bitcoin miner marketplace ASIC Miner Value, a 1,200 gigahash Bitaxe Gamma 601 machine costs about $158. This machine is almost three times more powerful than the one utilized by the lone miner.
According to ASIC Miner Value, the Bitaxe Gamma 601 will generate little more than $20 year while consuming about $18 in energy, resulting in a net profit of less than $3 annually.
Additionally, it claims that the Bitaxe Gamma 601 has a one in 4.6 million chance of mining a single block in a single day, or a one in 12,700 chance over a year.
