Do you buy lottery tickets ? There is a better alernative.
Do you buy lottery tickets ?
There is a better alternative.
Just buy a lottery miner and participate to win the block reward, of 3.125 bitcoin's or around 300.000$.
Bitaxe is a small, affordable, open-source ASIC miner, making Bitcoin solo mining accessible to hobbyists, while solo mining means a miner uses their own hardware independently to find a Bitcoin block and claim the entire reward, a high-risk, high-reward strategy contrasting with pool mining where power is shared for consistent, smaller payouts.
Bitaxe
What it is: A compact, low-cost, open-source Bitcoin miner using a single ASIC chip.
Purpose: To lower the barrier to entry for home Bitcoin mining, enabling hobbyists to participate in decentralization and solo mine.
Features: Simple setup, WiFi connectivity, low power consumption (a few dollars a month), and moderate hash power (hundreds of GH/s to 1 TH/s).
While there's no exact, real-time count, tens of thousands of Bitaxe devices are active, with some sources mentioning over 50,000 units hashing globally by mid-2025, though precise network connection numbers fluctuate, with typical units connecting to 10-30 peers for decentralization rather than a single connection.
These small, home-focused miners contribute to Bitcoin's decentralization, but their total number is less significant than large industrial miners.
Solo Mining
Concept: A single miner competes against the entire network to solve complex mathematical problems to validate transactions and earn the block reward (currently 3.125 BTC plus fees).
Pros: Keep 100% of the reward, no pool fees, promotes network decentralization.
Cons: Extremely low probability of success due to high network hash rates, leading to unpredictable income.
Contrast with Pool Mining:
Solo: Lottery-style, huge rewards (if lucky) or nothing; high odds, zero payouts.
Pool: Combines hash power, regular smaller payouts; consistent income, shared rewards.
In essence, Bitaxe provides the hardware for individuals to attempt the challenging feat of solo mining, which offers the ultimate prize but requires significant luck against industria
How Odds Are Calculated (Simplified)
Your Share of the Network: Your odds are your device's hashrate (computational power) divided by the total network hashrate.
Network Hashrate: The total Bitcoin network hashrate is massive (e.g., hundreds of Exahashes/second in mid-2025).
Bitcoin Difficulty: The network automatically adjusts difficulty every two weeks, making it harder to find blocks as more power joins.
Example Odds for a ~1.3 TH/s Bitaxe (as of mid-2025/early 2026):
Per Block (Every ~10 mins): ~1 in 461 million.
Per Day (144 blocks): ~1 in 3.2 million.
Per Month (4,320 blocks): ~1 in 107,000.
The Reality of Solo Mining
Extremely Rare Wins: Despite these numbers, some people using low-power Bitaxe devices have successfully mined entire blocks, receiving the full reward (around 3.125 BTC plus fees).
Lottery Analogy: Solo mining with a small device is best understood as buying a lottery ticket, where each block is a drawing, and your hashrate determines the number of tickets you hold.
In Summary: You're statistically unlikely to mine a block solo with a Bitaxe, but it's a fun way to participate in Bitcoin's decentralized ethos, and occasionally, sheer luck rewards miners who defy the odds.
You can buy one here @solosatoshi_
#bitcoin #btc #mining #money news