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1 sat \ 1 reply \ @BTCMiner OP 3 Feb 2022 \ on: And another one!! Solo miner with an S9 plays new global lottery and wins! 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).
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.
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