A Bitcoin mining device with a hashrate of 500 gigahashes per second (Gh/s) successfully mined a block on July 24, as reported by Altair Technology. The block, valued at around $206,000 based on current Bitcoin prices, was mined by a device called 'Bitaxe' from D-Central Technologies. The device, similar in size to a human hand, was connected to the Solo CKPool node infrastructure service. This achievement highlights the potential of solo mining, contrasting with the common practice of pooling hash power. The Bitcoin network's total hash power is 552.49 Exahashes per second (Eh/s), significantly higher than the Bitaxe's power. Despite the odds, the miner's decision to mine solo paid off, showcasing the benefits of individual mining efforts. This success story underscores the ongoing debate between solo and pooled mining in the cryptocurrency community. Read more AI-generated news on: https://app.chaingpt.org/news