Bitaxe profitability chart it

Key Points

  • Research suggests Bitaxe miners are not profitable for investment, with low daily earnings.
  • It seems likely that profitability charts for Bitaxe are not widely available, focusing on data tables instead.
  • The evidence leans toward Bitaxe being more for educational use, not financial returns.

Overview

Bitaxe is an open-source Bitcoin ASIC miner, popular among hobbyists for its customization and low power use. However, when it comes to profitability, especially in terms of a chart, the information is limited. Based on available data, Bitaxe miners like the Gamma model show very low daily profits, making them unsuitable for significant financial returns. Instead, they are better suited for learning and participating in the Bitcoin network.

Profitability Details

For the Bitaxe Gamma (1.10 TH/s, 18W), mining Bitcoin yields about $0.05 in daily revenue, but after accounting for electricity costs at $0.1/kWh, the daily profit is around $0.01. With a device cost of approximately $150, breaking even would take over 41 years, indicating it’s not a profitable investment. Other coins like eCash (XEC) show slightly higher profits, around $0.02 daily, but still far from covering the initial cost in a reasonable timeframe.

Availability of Charts

Despite searching, no specific profitability chart for Bitaxe was found. Websites like WhatToMine and Kryptex Pool provide tabular data, not graphical charts, suggesting that visual profitability charts for Bitaxe are not commonly available.

Survey Note: Detailed Analysis of Bitaxe Profitability

This section provides a comprehensive examination of Bitaxe profitability, expanding on the direct answer with detailed findings and calculations. Bitaxe, as an open-source Bitcoin ASIC miner, has garnered attention for its accessibility and community-driven development, but its financial viability, particularly in the context of profitability charts, requires careful analysis.

Background on Bitaxe

Bitaxe is a series of Bitcoin ASIC miners, including models like Gamma, Ultra, and Supra, each utilizing different ASIC chips (e.g., BM1370, BM1366) for mining. It is designed for solo and pool mining, with a focus on decentralization and education rather than large-scale commercial operations. The device’s open-source nature allows for customization, but its profitability is often debated, especially given the competitive nature of Bitcoin mining.

Search for Profitability Charts

The initial search for a “Bitaxe profitability chart” did not yield a graphical representation. Instead, resources like WhatToMine and Kryptex Pool provided tabular data on profitability. For instance, WhatToMine lists the Bitaxe Gamma with a hashrate of 1.10 TH/s and power consumption of 18W, while Kryptex Pool mentions the Gamma 601 at 1.2 TH/s and 20W. Neither platform offered a chart, suggesting that visual profitability charts for Bitaxe are not standard.

Further exploration into forums and reviews, such as on Reddit (e.g., r/BitAxe), indicated community discussions on viability but no charts. Articles like one from Cointribune (Bitcoin – Are Nerdminer and BitAxe profitable?) emphasized that Bitaxe is not profitable, even with zero electricity costs, reinforcing the notion that profitability is low.

Detailed Profitability Calculations

To assess profitability, we focused on the Bitaxe Gamma, given its prominence in the data. The following table summarizes the profitability metrics from WhatToMine, assuming an electricity cost of $0.1/kWh:

CoinDaily Revenue ($)Daily Profit ($)Est. Rewards (24h)Notes
Bitcoin (BTC)0.050.010.000001 BTCBase case, low profit
eCash (XEC)0.060.022,772.3898 XECSlightly higher profit
Peercoin (PPC)0.050.010.2367 PPCSimilar to BTC profitability
  • Revenue and Profit Calculation: For Bitcoin, the daily revenue is $0.05, derived from an estimated reward of 0.000001 BTC at a Bitcoin price of approximately $50,000 (0.000001 * 50,000 = $0.05). Electricity cost is calculated as 18W * 24h = 0.432 kWh, at $0.1/kWh, costing $0.0432 daily. Thus, profit = $0.05 – $0.0432 = $0.0068, rounded to $0.01 in the table, aligning with the data.
  • Break-Even Analysis: With a device cost of $150 (based on sellers like Bitcoin Merch), and a daily profit of $0.01, the break-even time is $150 / $0.01 = 15,000 days, or over 41 years. This confirms the device’s lack of financial viability.

For eCash, the daily profit of $0.02 still results in a break-even time of $150 / $0.02 = 7,500 days, or over 20 years, which is similarly unprofitable.

Comparison with Other Models

Other models like Bitaxe Ultra (up to 500 GH/s, or 0.5 TH/s) and Supra (up to 700 GH/s, or 0.7 TH/s) were mentioned, but profitability data was less detailed. Given the lower hashrate, their profitability is likely even lower than Gamma, reinforcing the trend.

Community and Educational Focus

Community discussions, such as on Reddit, often refer to Bitaxe as a “lottery miner” or educational tool, not a profit-making device. An X post from a user involved in the project stated, “The goal is not necessarily to make a profit. This miner allows you to get your foot in the door to understand and learn” (@skot, X post), highlighting its non-commercial intent.

Conclusion

In summary, while no specific profitability chart for Bitaxe was found, the available data from WhatToMine and other sources indicates low profitability, with daily profits around $0.01-$0.02 for the Gamma model, far from covering the $150 initial cost in a reasonable timeframe. Bitaxe is better suited for educational purposes and network participation rather than financial investment.

Key Citations

Why people buy it

Key Points

  • Research suggests people buy Bitaxe for education, not profit, due to low financial returns.
  • It seems likely that hobbyists and enthusiasts value its open-source nature and customization.
  • The evidence leans toward supporting Bitcoin’s decentralization as a key motivation.

Overview

Bitaxe, an open-source Bitcoin ASIC miner, is not typically purchased for profitability, as its daily earnings are very low. Instead, people buy it for educational purposes, hobbyist interests, and to support Bitcoin’s decentralization. Below, we explore these reasons in more detail.

Educational and Learning Tool

Bitaxe is popular among those wanting to learn about Bitcoin mining. It’s described as a “learning device” for makers and hardware enthusiasts, ideal for understanding how mining works without significant financial risk. Its user-friendly setup and WiFi connectivity make it accessible for beginners.

Hobbyist and Enthusiast Appeal

Hobbyists enjoy tinkering with Bitaxe due to its open-source nature, allowing for customization and overclocking. It’s compact, energy-efficient, and suitable for home use, appealing to tech-savvy users who value experimentation over profit.

Supporting Decentralization

Many buyers are motivated by the desire to contribute to Bitcoin’s decentralization. By using Bitaxe for solo mining, individuals help prevent network centralization, aligning with the vision of “one ASIC, one vote.” This supports the security and integrity of the Bitcoin network.

Survey Note: Detailed Analysis of Why People Buy Bitaxe

This section provides a comprehensive examination of the reasons why people purchase Bitaxe, expanding on the direct answer with detailed findings and insights. Bitaxe, as an open-source Bitcoin ASIC miner, has garnered attention for its accessibility and community-driven development, but its appeal lies in factors beyond financial profitability, which is known to be negligible based on previous analyses.

Background on Bitaxe

Bitaxe is a series of Bitcoin ASIC miners, including models like Gamma, Ultra, and Supra, each utilizing different ASIC chips (e.g., BM1366, BM1368, BM1370) for mining. It is designed for solo and pool mining, with a focus on decentralization and education rather than large-scale commercial operations. The device’s open-source nature allows for customization, but its low profitability (e.g., daily profits of $0.01-$0.02 for the Gamma model) suggests that financial returns are not the primary driver for purchases.

Reasons for Purchase: Detailed Insights

From various sources, including product pages, community discussions, and customer reviews, the following reasons emerged for why people buy Bitaxe:

  1. Educational and Learning Purposes
    • Bitaxe is frequently described as a “learning device” for makers, hardware enthusiasts, and those interested in understanding Bitcoin mining. For instance, Altairtech.io highlights it as ideal for tinkering, with low noise and WiFi connectivity making it suitable for home mining. Reddit users also mention using it to learn about the Bitcoin network, such as running a node on a Raspberry Pi alongside solo mining (Reddit r/Bitcoin Thread).
    • Its user-friendly interface and easy setup process, as noted in customer reviews (e.g., “Easy to set up once you watch a few videos” on Altairtech.io), make it accessible for beginners, enhancing its educational value.
  2. Hobbyist and Enthusiast Appeal
    • Bitaxe appeals to hobbyists who enjoy experimenting with technology. Its open-source hardware and firmware allow for customization, such as overclocking or underclocking, which is attractive to tech-savvy users. For example, Altairtech.io mentions community overclocking results and the ability to manually set frequency and core voltage for advanced users.
    • It is also compact and energy-efficient, with models like the Gamma consuming only 15W at 1.1 TH/s, making it suitable for home use without high electricity costs. Reddit discussions compare it to old GPU mining days, emphasizing its appeal for tinkering (Reddit r/BitAxe Thread).
  3. Supporting Decentralization and Bitcoin Ideals
    • A significant motivation is the desire to contribute to Bitcoin’s decentralization. D-Central.tech promotes Bitaxe as a way to mobilize an army of decentralized, open-source miners, fulfilling Satoshi Nakamoto’s vision of “one ASIC, one vote.” This prevents network centralization and enhances security, which is a key driver for many users.
    • Reddit users echo this sentiment, stating they buy Bitaxe not to get rich but to support the network’s decentralization (Reddit r/Bitcoin Thread). Solo mining capability, supported by pools like CKSolopool, Kano Solo Pool, and Public Pool, further aligns with this goal.
  4. Lottery-Like Chance of Finding a Block
    • Some users are drawn to the small but exciting possibility of finding a Bitcoin block, likening it to a lottery. For instance, D-Central.tech notes the chance to participate every 10 minutes, with a potential reward of 3.125 BTC if successful. Reddit calculations show the probability is low (e.g., ~1/20,000 per year for a Bitaxe Supra at 625 GH/s against a global hash rate of 700 EH/s), but users find this “forever lottery ticket” appealing (Reddit r/Bitcoin Thread).
    • This is particularly noted in community discussions, with some users aiming to increase their odds by running multiple units, such as aiming for a 1/5000.375 probability with four miners.
  5. Open-Source Innovation and Community-Driven Development
    • Bitaxe’s open-source nature is a significant draw, offering transparency and the ability for users to modify the hardware and firmware. D-Central.tech emphasizes continuous improvements shared openly, keeping users at the cutting edge. Design files are available for community modification, fostering innovation (GitHub License).
    • This appeals to developers and enthusiasts who value open-source principles, as seen in discussions on Reddit r/BitAxe, where users prefer Bitaxe over closed-source alternatives like the Avalon Nano 3.
  6. Energy Efficiency and Low Maintenance
    • Bitaxe is highly energy-efficient, with specific models like the Supra at 17.5J/TH efficiency and consuming 10-15W, as noted on D-Central.tech. This reduces operational costs, making it suitable for home use and environmentally sustainable, which is appealing to users concerned about electricity bills and sustainability.
    • Its embedded design and low maintenance requirements, as mentioned on Altairtech.io, further enhance its appeal for casual users.
  7. User-Friendly and Accessible Features
    • Bitaxe is designed for ease of use, with WiFi connectivity allowing configuration without an external computer, as highlighted on Mining Bitcoin from Home Article. Customer reviews on Altairtech.io and Trustpilot praise its easy setup, with examples like “Altair is amazing and the device was easy to setup!!”
    • This accessibility makes it suitable for beginners, enhancing its appeal as an entry point into Bitcoin mining.
  8. Contribution to Network Security
    • Users feel they are contributing to the security of the Bitcoin network by mining with Bitaxe. D-Central.tech notes earning small amounts like 50 Satoshi/day on pools like Braiins Pool, reinforcing the sense of participation. Reddit users also mention this as a motivation, with the option to decide on tax implications (Reddit r/Bitcoin Thread).
  9. Novelty and Collector’s Item
    • Some users purchase Bitaxe as a novelty or collector’s item, similar to how enthusiasts collect other tech gadgets. Reddit discussions compare it to guitars, noting “collectors” and hobbyists who buy models like the Hex for the lottery or a daily stream of sats (Reddit r/BitAxe Thread).
  10. Potential for “Fresh” BTC
    • Mining with Bitaxe allows users to acquire “fresh” BTC (newly minted coins not linked to their identity), which is appealing for privacy reasons. This is noted in Cointribune Article, especially when combined with solo mining or certain pools, enhancing its appeal for privacy-conscious users.

Comparative Analysis: Models and Features

Different models cater to various needs, influencing purchase decisions. The following table summarizes key models and their specifications, which may attract buyers based on performance and efficiency:

ModelHash Rate RangePower Efficiency (J/TH)Power Consumption (W)Notes
Max400-450 GH/s–10-15Entry-level, low power, ideal for beginners
Ultra500-550 GH/s–10-15Balanced for hobbyists
Supra625-775 GH/s17.510-15High efficiency, popular for solo mining
Gamma1.0-1.2 TH/s1515High hash rate, energy-efficient

These specifications, from D-Central.tech, show how different models cater to varying user needs, such as scalability and performance, influencing purchase decisions.

Community and Customer Feedback

Community discussions on Reddit and customer reviews on platforms like Trustpilot and Altairtech.io provide additional insights. For example, users rate Bitaxe highly for fast delivery (e.g., 3 days to France, 7 days to Brazil) and customer service, with a 4.38/5 rating based on 69 reviews on Altairtech.io. This satisfaction reinforces its appeal as a reliable and community-supported device.

Conclusion

In summary, people buy Bitaxe for a range of reasons beyond profitability, including its educational value, hobbyist appeal, support for decentralization, and the small chance of finding a block. Its open-source nature, energy efficiency, and user-friendly features make it attractive to a diverse audience, from beginners to advanced enthusiasts. These factors, supported by community feedback and technical specifications, highlight Bitaxe’s role as a tool for learning, experimentation, and contributing to Bitcoin’s ideals rather than a profit-driven investment.

Key Citations

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