A solo Bitcoin miner using a relatively cheap, pocket-sized crypto mining rig has solved one of the blockchain’s blocks and earned the full $263,000 reward.
The miner became the 297th solo miner to mine a Bitcoin block from the solo.ckpool Bitcoin (BTC) mining pool, its developer, Con Kolivas, said in a March 10 X post.
He added the miner used a 480-gigahash per second (GH/s) Bitaxe machine. For comparison, many big crypto-mining companies use machines that can operate at 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 3,500 years to find a block on average,” Kolivas added.
The miner snared a total of 3.15 BTC for solving block 887,212, which was timestamped on March 10 at 7:22 pm