A Bitcoin miner using open-source Bitaxe mining hardware won the $206,000 Bitcoin lottery by mining a block worth 6.25 BTC from his $179, palm-sized device. Here are the details…
The miner’s probability of winning was around 1 in 1.1 billion!
Altair Technology, known as one of the open source ASIC Bitcoin vendors officially approved by Bitaxe, congratulated the miner by sharing a post through its official social media account. Altair Technology noted that the miner was likely the first to mine a solo BTC block with Bitaxe, with a hashrate of around 500 Gh.
As you know, Bitcoin mining is a high-power process and the entire Bitcoin network has a hash power of 552.49 exahash per second (Eh/s) or 552,490,000,000 Gh/s.
This Bitaxe If we divide by the 500 Gh/s performance, we get a result of 1.1 billion. In other words, the chance of the miner who wins this Bitcoin lottery to mine a block every ten minutes is calculated as 1 in 1.1 billion. This means 3-4 times less chance than the world’s most profitable lotteries such as Powerball and Mega Millions, which give a jackpot of 1 in 300 million.
BTC mining is often likened to playing the lottery, as miners must pay for their electricity consumption regardless of whether they receive BTC or not. As a matter of fact, you are entering a process where you are unlikely to get anything in return, and on top of that, you are incurring expenses. Especially if you do this with a sub-petahash device like Bitaxe, your luck will most likely not be as good as the miner who won the lottery.
What do you think about the miner who earned 206 thousand dollars with Bitaxe? Don’t forget to share your opinions in the comments.
Source link: https://shiftdelete.net/minicik-cihazla-bitcoin-piyangosu-179-dolar-yatirimla-206-bin-dolar-kazandi