Comply with Nikolaus On X Right here
After I first got here onto the Bitcoin scene in 2017, I had modified my Twitter (now X) deal with to “@nikcantmine.” (It was a joke I assumed was humorous on the time since I didn’t have the sources to mine BTC in highschool.) However in the present day, I formally grew to become “nik CAN mine”.
The opposite week I obtained gifted a Bitaxe, a completely open supply (and really small) bitcoin miner, whereas attending the Human Rights Basis’s Bitcoin Summit in Nashville. It’s a reasonably neat gadget that lets you hook up with a mining pool or solo mine by yourself.
nik CAN mine pic.twitter.com/Mv1OuTyvBM
— Nikolaus (@nikcantmine) October 8, 2024
Organising the gadget was pretty simple. Tinkering with it was enjoyable and being able to carry a miner within the palm of my hand felt fairly cypherpunk. It appears like a cool technique to introduce somebody to mining on a really small scale.
In fact, by connecting this miner to a pool, I wouldn’t stand to achieve any actual revenue, as this miner is negligible in comparison with what energy is definitely wanted in the present day to profitably mine BTC in the present day. However solo mining with this machine is the place issues get a bit fascinating.
Earlier this summer time, a Bitaxe solo miner really beat the percentages and mined a solo block, incomes the block reward of three.25 BTC presently price over $205,000.
Congratulations to miner with the primary bitaxe block, solely a tiny 3TH for locating the 290th solo block on solo ckpool! This a lot hashrate solely would discover a block as soon as each 3500 YEARS on common, or 1 in 1.2 MILLION likelihood per day! https://t.co/5Wtu9jydsF pic.twitter.com/D5sSzug42P
— Dr -ck (@ckpooldev) July 24, 2024
Knowledge reveals this miner had mined constantly with 500Gh/s price of hashrate for weeks, after which had elevated its hashrate as much as 3TH proper earlier than the block was discovered. Which considerably encourages me figuring out that my Bitaxe is presently mining at over 634Gh/s.
However I’m not getting my hopes up, contemplating I don’t have extra hashrate so as to add and the percentages of discovering a block with this little hash fee is round 1 in 1.2 million per day, based on the Solo Ckpool admin, Dr -ck.
Nonetheless, I obtained this machine without spending a dime, so I assumed why not plug it in and see what occurs? I’ll take care of the facility invoice later once I see how a lot it’s, and re-evaluate if that is price it to maintain operating. Having used it, I most likely wouldn’t buy one based mostly on the economics of it alone, since I wouldn’t be capable to make my a reimbursement except I hit the lottery. However I might possibly buy one simply to have as a enjoyable toy.
The chances of me discovering a block is 0.001% per day, but it surely truthfully simply feels enjoyable to have operating in hopes of discovering a solo block. I can preserve my Bitaxe operating 24/7 if I wish to, because it solely requires a 5-volt energy wire plugged into a standard electrical socket to function. I’ve obtained it arrange proper right here on my desk subsequent to my monitor.
Along with a brand new Coldcard Q I simply obtained, I couldn’t cease interested by how cool it might be to win a solo block mining with this and have that BTC reward despatched to a model new bitcoin pockets.
This might imply there isn’t any public file of me receiving both the Bitaxe or Coldcard (aside from this text), and I’d have some candy KYC-free Bitcoin.
This text is a Take. Opinions expressed are solely the creator’s and don’t essentially mirror these of BTC Inc or Bitcoin Journal.
