Solo Bitcoin Miner has recently won more blocks.

Another solo Bitcoin minor It goes against the odds Last week I processed the block and bagged 3.125 BTC rewards. At the time, including transaction fees – this was $259,637 payday. And it was one of several such solo scores in the last few months.

Was the miner lucky? Is solo mining becoming more common? And can the average Joe connect a hobby mining machine and succeed with minimal resources compared to publicly traded miners?

The answer is different. Solo Minor, a semester It is used to describe everything from individual hobby miners to groups who prefer to work individually and deliberately, but not dramatic, but more often successful.

Mining without Big Pool support is “still like playing the lottery,” says Scott Norris, CEO of Bitcoin Miner Optiminer.

In 2022, Solo Miners with Solo CKPOOL is a service that allows anonymous miners to start mining hookups without the need to run their own Bitcoin nodes. In 2023, the number jumped to 12 blocks. Fast forward to 2024 and the number reaches 16 blocks.

However, blocks mined using solo ckpool (not a traditional mining pool despite the name) do not have Inevitably, it means someone is mining Bitcoin with a very low hashrate. Some Crypto Twitter observers are loud, but they make this claim wrong.

The mining pool industry is thinking of foundries, ant pools and F2pools. Miners connect to pools, share resources, and split rewards. Services like Solo Ckpool allow miners to receive rewards when they find a block and keep them all.

As the Bitcoin network grows, more electricity and resources are needed to mine blocks, and mining is often an industrial business run by public companies. Some hardcore bitcoiners have argued that this is a bad thing for Bitcoin. This is because the network needs to be as decentralized as possible.

Hobby mining rigs such as Bitaxe and Futurebit Apollo, which are available for sale for $200-$500, are now my favorite gadgets. “Bitcoin maximalists.” January, Futurebit Apollo Blocks have been processed– But only thanks to a nonprofit group that donates hashrates (calculation capabilities that promise to support the Bitcoin network) from other machines to machines.

The idea was to “dismantle our own mining empire and make Bitcoin and Freedom technology accessible to anyone.”

Even with a small odds, the rise of hobby miners could drive the obvious growth of individual block victory over the last few months. In an interview with DecryptionEconoalchemist has noted a recent trend to expand solo success.

“Occasionally and more and more often, that single machine (processing blocks) is a Bitaxe or similar small mining device that we’ve found to run quietly in someone’s house,” he said.

Scott Norris of OPtimer pointed out that conglomerates may be dealing with blocks by having a lot of hashrates, rather than using large pools.

And even Soro Satoshi, based in Houston, Texas, who sells mining equipment like Vitaxe Gamma, says on its website that using a $180 Vitaxe machine with a hash rate of 1.2 tera hash per second, hash rates is 0.00068390% per day to mine blocks.

But Matt Howard, who founded Solo Satoshi, said getting stuck in solo mining isn’t necessarily about payday.

“The main goal is more decentralization. Finding blocks and getting Bitcoin rewards is a bonus,” he said. “For Bitcoin maximalists, they understand that mining needs to be decentralized.”

edit James Rubin