A solo bitcoin miner recently hit the jackpot in a lottery-like stroke of luck, turning a modest investment into an outsized profit.
The miner equipped with a small hobby device called Bitaxe recently hit Bitcoin block number 957,382 and took home 3.1382 BTC, worth about $200,000.
The miner was operating the platform for only eight hours through the Public Pool service. Your average hash rate? A measly 995 GH/s, or about 1 terahash per second.
This is the second time that a single Bitaxe has solo mined a block in the Public Pool.
Data tracking manager Public Pool posted the win on X.
What is a Bitaxe?
It’s an open source, credit card-sized ASIC miner powered by the same Bitmain BM1370 chip found in the massive Antminer S21 industrial machines. The Bitaxe Gamma version pumps 1 to 1.3 TH/s while using only 15-21 watts of power. You can buy one for $60 to $150.
Think of it as the mining equivalent of winning the lottery with a gas station scratch-off ticket.
Solo mining is having a moment
This is not the first time a solo miner has made big profits with a small investment.
