For the last decade, solo mining Bitcoin has long been considered a feat only achievable by large mining farms with warehouses full of ASICs. But, 2024 has been a year of surprises, proving once again that luck—and determination—can make solo mining profitable, even with a home setup. Solo bitcoin mining is back and here to stay! (Sidenote: No idea what solo mining is? Look here first... https://www.thesolomining.co/faq)
In July of this year, I had the priveledge of attending BTC 2024 in Nashville. During the show, the expo' hall was alive with commotion when news spread that someone had solo mined the world's first block with a Bitaxe! talk about perfect timing! The hype was unreal! This achievement resonated across the solo mining community, with enthusiasts praising the Bitaxe's efficiency and design - and the luck of the individual....! Today, another solo mining success made the headlines—this time, with a home miner using a FutureBit Apollo.
What these events demonstrate is that solo mining isn’t just for big players. With the right setup, patience, and a bit of luck, mining a block solo is within reach for individuals at home.
Why Solo Mining?
Mining pools have their advantages, but they aren't for everyone. Pools provide consistent, smaller payouts, but solo mining offers the exhilarating potential of winning an entire block reward of 3.125BTC (plus fees) in a single shot. For many, it’s about the thrill of the hunt and the opportunity to experience the true essence of Bitcoin mining—decentralized and independent.
The Bitaxe, Ultra, Supra, Gamma and beyond.
At The Solo Mining Co', we’re all about empowering solo miners and supporting badass projects (such as the world's first open source miner - The Bitaxe (https://osmu.wiki/) The Bitaxe was created to shake the mining industry by not only bringing the solo mining dream closer to reality for home miners, but by being 100% open source (instigated and created by the awesome Skot9000 (https://x.com/skot9000) With all this in mind, it means home miners have the tools and resources to a light a fire under the big closed source mining co’ and keep improving this ecosystem on an exponential scale. Strength in numbers, and all that.
The Bitaxes as supplied by us, TheSoloMiningCo', (www.thesolomining.co) come in all iterations - The Ultra mines at around 500gh/s, the Supra around 750gh/s and the Gamma smashes it at around 1.2th/s (give or take - It's just amazing!)
The latest version, The Gamma, is equipped with the mighty BM1370 chip - as found in Bitmain's S21 Pro miners. Combined with this and efficiency-focused design, the Bitaxe Gamma isn’t just a miner—it’s a sidekick for solo miners aiming for that next block with a ridiculous power to hash ratio. As evidenced in July, a miner using a Bitaxe (Supra) was able to secure a full block reward, showing that it’s possible to achieve success without an industrial-scale operation.
What sets the Bitaxe apart is its aesthetic appeal, near-silent operation, and bespoke design, perfect for home or office use. Oh, and did I mention how badass the Bitaxe looks when fitted with the (also open source) BitHalo?!
Some of my personal Bitaxes with The BitHalo fitted. Blue ring programmed just for fun. BitHalo is also open source. Update the code yourself! Bitaxe Gamma & BitHalo BitHalo on github
How Can You Increase Your Odds?
These events demonstrate that solo mining isn’t just for the big players. Here’s how you can increase your chances:
Optimize Your Hardware: A highly efficient and well-cooled miner like the Bitaxe Gamma can make all the difference. Running it 24/7 at optimal settings ensures you aren’t missing out on valuable uptime.
Monitor and Maintain: Stay informed about your miner’s performance. Watch for temperature spikes, ensure stable internet connectivity, and be ready to step in with tweaks when needed.
Stay Determined: Remember, solo mining is a marathon, not a sprint. You aren’t competing with others—only with yourself. Those who succeed are often the ones who stay the course.
Scale: The more miners you have, the greater your odds. I personally have 12 Bitaxe Gammas running at home (yes, really!) Haven’t mined a block, yet!
Odds shown based on my 12 x Bitaxe Gammas running. I haven't mind a block, yet! Stats taken from www.solochance.org www.solochance.org is a great tool to see your own stats and probability of mining a block.
The Bitaxe Gamma: Your Ticket to the Solo Mining Club
If these snippets inspire you to start your solo mining journey, the Bitaxe Gamma is ready to be your trusted ally. With its sleek design, exceptional support, and performance-driven engineering, it's tailor-made for individuals wanting to blend aesthetics with serious Bitcoin mining capability.
Whether it’s the joy of setting up your own mini-mining operation, or the thrill of potentially discovering a block solo, the Bitaxe Gamma is more than just a miner—it’s your entry into the world of decentralized mining. Check out the Bitaxe Gamma & BitHalo (designed by myself, IAmGPIO of www.thesolomining.co), and join a growing community of passionate solo miners! PS, check out Open Source Miners United on Discord. This is where it's at! https://discord.com/invite/osmu
Are you ready to mine solo?
Take a chance, set up your Bitaxe, and who knows—you could be the next solo miner to find a block.... ...and then I'd have to write another blog about the lambo you bought.
Duncan - (aka 'IAmGPIO'), Founder of The Solo Mining Co.
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