And another one!! Solo miner with an S9 plays new global lottery and wins! \ stacker news ~bitcoin

Of course, "new global lottery" is a misnomer.

It's not new -- solo mining of bitcoin has been done since January 3rd, 2009.

But it is kind of like a lottery. You need to expend some CapEx for a rig, and then there's the cost of electricity.

This person's S9 would consume just under $5 / day in electricity, for what is the typical residential rate in the U.S. for the day's 33.6 kWh. (there's no info as to where this miner is from, am just using U.S. as the avg residential rate is easily obtained).

The "Lotto" in this instance paid out just under a quarter million dollars (USD value of the 6.27677489 BTC earn in block reward + fees).

0 sats \ 0 replies \ @BTCMiner OP 3 Feb 2022

Actually, thinking of it like a lotto ticket, .. if this miner is actually using an S9, and is paying the average U.S. residential rate, resulting in a $5 spend per day in electricity, .... then that's a $5 ticket for a lottery that has a 1 in 100,000 chance of winning (per CK's tweet, I haven't myself calculated the odds of a 13 TH/s S9 is at current difficulty).

This "lotto" would then be among the ones having the worse odds of all lotteries running.

That's why the cost per kWh and the efficiency of your rig model are so crucial.

1 sat \ 0 replies \ @BTCMiner OP 3 Feb 2022

This is the fifth block in 2022 mined by a solo miner with CK Solo (versus those mining in a pool).

https://i.imgur.com/kCku6h6.png

Source

Here's an article that came out after the third block was mined by a solo miner:

How Are Such Small Miners Solving Bitcoin Blocks? | Bitcoin Magazine #9586 https://bitcoinmagazine.com/business/how-small-solo-miners-solve-bitcoin-blocks

0 sats \ 0 replies \ @BTCMiner OP 3 Feb 2022

There are now 30PH of miners on http://solo.ckpool.org thanks to attracting approximately 600 more users since the recent block finds. That equates to a solo miner solving a block on average every one and a half months. Good luck!

0 sats \ 0 replies \ @BTCMiner OP 3 Feb 2022

I implore anyone who is considering mining solo to realistically weight up their chances before doing so. This site will give you an accurate view of the probabilities http://solochance.com

0 sats \ 0 replies \ @BTCMiner OP 3 Feb 2022

There's no way to know for sure what device(s) this miner used, but 13 TH/s is about the level that an Antminer S9 performs at -- probably safe to assume it was an S9.

0 sats \ 0 replies \ @derekross 3 Feb 2022 freebie

This is just incredible and makes me want to try this with one of my S9's. Though, I am not lucky, but this is life changing money for me. I don't know what to do 😭