Gemini Estimates the Time for a Bitaxe Gamma to Accrue 1 BTC as a Pool Miner

Bitcoin = $118,400 on 7/27/2025 🔌 Block Reward = $370,000 on 7/27/2025

Accruing a full Bitcoin through pool mining with a single Bitaxe Gamma, a modest yet popular piece of mining hardware, would be a monumental undertaking, stretching over a vast expanse of time. Factoring in a 2% pool fee, the endeavor would likely take several millennia.

Here's a breakdown of the factors and calculations that lead to this extended timeline:

The Miner's Power: The Bitaxe Gamma boasts a hashrate of approximately 1.2 Terahashes per second (TH/s).¹ When participating in a mining pool, a 2% fee is deducted from the earnings. This reduces the effective hashrate for which the miner is rewarded to 1.176 TH/s (1.2 TH/s * 0.98).

The Global Network: The real challenge lies in the sheer scale of the global Bitcoin network. As of mid-2025, the total network hashrate hovers around a staggering 1.004 billion TH/s. This means the single Bitaxe Gamma contributes a minuscule fraction of the total computing power dedicated to mining Bitcoin.

Block Rewards and Distribution: A new Bitcoin block is discovered, on average, every 10 minutes, rewarding the successful miner or mining pool with 3.125 BTC. In a pool, these rewards are distributed among participants based on their contributed hashrate.²

Calculating the timeline: To determine how long it would take for the Bitaxe Gamma to accrue 1 BTC, we can calculate its share of the total daily Bitcoin production.

• Total Daily BTC: With a block reward of 3.125 BTC and a new block every 10 minutes, approximately 450 BTC are mined each day (3.125 BTC/block * 6 blocks/hour * 24 hours/day).

• Miner's Share: The Bitaxe Gamma's effective hashrate of 1.176 TH/s represents a tiny portion of the 1.004 billion TH/s network hashrate. Its share is roughly 1.171 x 10^-9, or 0.0000001171%.

• Daily Earnings: Multiplying the miner's share by the total daily BTC production gives us the expected daily earnings for the Bitaxe Gamma: 0.0000001171 * 450 BTC ≈ 0.00000052695 BTC.

• Time to 1 BTC: To find the time it would take to accumulate 1 BTC, we divide 1 by the daily earnings: 1 / 0.00000052695 BTC/day ≈ 1,897,713 days.

The Verdict: This translates to approximately 5,199 years to mine a single Bitcoin with a Bitaxe Gamma in a pool with a 2% fee, under current network conditions.

It's crucial to understand that this is an estimate. The Bitcoin network's difficulty adjusts roughly every two weeks, and the total network hashrate is constantly changing.³ As more powerful mining hardware comes online, the difficulty will likely increase, further extending the time it would take for a low-power device like the Bitaxe Gamma to reach this goal. Therefore, while the Bitaxe Gamma is an excellent tool for hobbyists and for learning about the mechanics of Bitcoin mining, it is not a practical instrument for accumulating significant amounts of Bitcoin in a short timeframe.

Solo mining is therefore the only viable option when running a small, low power bitcoin mining device. According to solochance.com the chances of a Bitaxe Gamma solving a block and receiving the BTC reward (as of 7/27/2025) Chance per block: 1 in 772,191,667. The good news is that 2 or 3 Bitaxes have solved Bitcoin blocks and received the Bitcoin reward. Will your Bitaxe be the next?

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