What is the probability of solving a block with a $25 Bitcoin miner? 🤔
I've looked up all the information on this device and made calculations for the probability of earning 3.125 Bitcoins:
The miner I'm talking about has around 70 kH/s, which is very little compared to the multi-thousand dollar miners.
⛓️Currently, the Bitcoin network handles over 450 exahashes per second (EH/s), which is equivalent to 450,000,000,000,000,000,000 hashes per second. The probability of your miner solving a block is 1 in several trillion.
• The important thing is that it is a fantastic tool to learn how mining works, the basics of blockchain, and experience first-hand how transactions are processed on the Bitcoin network.