Solo Miner Successfully Mines Bitcoin Block #887,212 Using Open-Source Bitaxe ASIC

Key Takeaways:

• An independent Bitcoin miner defied the odds by solving block #887,212, securing a $263K BTC reward.
• The miner used a 480GH Bitaxe, a compact, energy-efficient, open-source ASIC built for solo mining.
• This achievement highlights how open-source mining preserves Bitcoin’s decentralization, as outlined in Satoshi Nakamoto’s whitepaper.

On March 11, a lone Bitcoin miner successfully solved block 887,212 on the blockchain, earning a reward of $263,000.

Typically, such Bitcoin block achievements require massive computing power from industrial mining operations. But this miner accomplished it using a Bitaxe open-source ASIC miner.

Bitaxe ASIC is a compact and energy-efficient mining device. It shows that individuals with lower hashing power can still compete in the Bitcoin network.

Developer Tags Bitcoin Miner’s Feat a “One-in-a-Million” Chance

According to mempool.space data, the individual Bitcoin miner earned 3.15 BTC for solving the block. It was time-stamped on March 10 at 7:22 pm UTC. This reward includes the standard 3.125 BTC mining subsidy. An additional 0.025 BTC came from transaction fees.

Con Kolivas is the software engineer behind the solo.ckpool Bitcoin mining pool. He shared the independent miner's achievement in an X post. The solo Bitcoin miner became the 297th participant from the pool to mine a block successfully.

Congratulations to a super lucky miner bc1qaxccz85rx6ywy2xw6ugtm6u37mvew6qqn7lgtd with only 3.3TH who solved the 297th solo block at https://t.co/UWgBvLkDqc with a 480GH bitaxe! https://t.co/OKIq0tfSOX

— Dr -ck (@ckpooldev) March 10, 2025

A 480GH Bitaxe is a compact, open-source ASIC miner designed for efficiency and low power consumption, making it accessible for Bitcoin solo miners. 

In contrast, large Bitcoin mining companies use high-end ASIC machines like the Antminer S19 Pro, which deliver 110TH/s (terahashes per second) or more, outperforming Bitaxe’s 480GH/s (gigahashes per second). 

These industrial-grade miners operate on large-scale farms with optimized cooling systems and massive energy consumption. At the same time, Bitaxe is better suited for hobbyists or solo miners experimenting with Bitcoin mining on a smaller scale.

Kolivas further noted that a miner using a device of this scale faces less than a one-in-a-million chance of solving a Bitcoin block per day. 

To put this in perspective, a single device of this caliber would typically need approximately 3,500 years to successfully mine a block under standard conditions.

A miner of this size has only less than a 1 in a million chance of finding a block per day, or put alternatively, would take 3500 years to find a block on average.

— Dr -ck (@ckpooldev) March 10, 2025

Some within the Bitcoin mining community questioned whether such an event should still be considered a “one in a million” chance, given that this marks the second time a solo Bitcoin miner using Bitaxe hardware has achieved this feat in a few months. 

In response, Kolivas clarified that the probability remains unchanged, as the laws of chance dictate that if a million miners with similar hashrates participate, statistically, one would succeed each day.

Solo Bitcoin Miners Can Win Due to Open Source

This is not the first time a lone Bitcoin miner has defied the odds. On February 10, another independent Bitcoin miner successfully mined Block 883,181, earning a reward worth approximately $300,000. 

Marshall Long, a well-known Bitcoin mining analyst, noted that the miner utilized a Bitaxe device.

Another solo block foundhttps://t.co/TmOWP0leBw

— Marshall Long (@OGBTC) February 10, 2025

Similarly, on September 10, 2024, another hobbyist Bitcoin miner made headlines by solving Block 860,749 and securing a full reward of 3.169 BTC, valued at around $181,000. 

The miner’s computing power was estimated at just 629 petahashes per second, representing a mere 0.098% of the total network hashrate, which stood at 644.91 exahashes per second (EH/s).

These successes highlight the viability of solo Bitcoin mining, driven by open-source hardware like Bitaxe, which aligns with Bitcoin’s decentralization and transparency principles outlined in Satoshi Nakamoto’s whitepaper.

Open-source mining tools allow anyone to study, modify, and improve the technology, ensuring a more inclusive mining ecosystem.

The English language is open-source software that can be freely copied, modified, and used in its modified form by anyone, anywhere, anytime.

Counterintuitively, this is the reason there is only one English language…

And this is the same reason there is only one #Bitcoin.

— Robert ₿reedlove (@Breedlove22) March 5, 2025

Despite Bitcoin’s origins as an open and decentralized network, the mining sector has become increasingly centralized, with dominant players keeping their hardware and innovations under wraps. 

Open-source projects challenge this exclusivity by making mining technology accessible to anyone, leveling the playing field and enabling one-man mining operators to participate without relying on closed-source, corporate-controlled machines.