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Cryptominer with palm-sized $179 ASIC hits the jackpot with $206,000 in Bitcoins
A Bitcoin prospector won big in the mining lottery.
With one Bitcoin worth approximately $64,000, the user earned $206,000 from their diminutive (human hand-sized) device which was a mere $179 hardware investment. (Image credit: Altair)However, sub petahash devices like the Bitaxe are often at a disadvantage as it’s below the minimum payout that most Bitcoin mining pools require. Even if the ROI is 115,000% (assuming that BTC prices will remain stable over that time period), that would equate to just over 5.75% per annum — you’ll be better off investing in an S&P 500 index fund with compounding interest, which currently has a long-term average of 6.87%.
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