1 Decentralized Home Mining w/ BitAxe Decentralized Home Mining w/ BitAxe 

Some Topics We’ll Cover Some Topics We’ll Cover History of Bitcoin Mining How BitAxe Decentralizes Mining Hardware and Software Electricity Costs and Efficiency Comparison BitAxe Gamma Setup ● Network config ● Connecting to a solo pool Optional Setup ● Running a Bitcoin Node w/ Knots ● Configuring C-Lightning for Bolt 12 Payouts ● Connecting to Ocean.xyz via DATUM – Configuring DATUM for Pooled or Solo Mining 

3 History of Bitcoin Mining History of Bitcoin Mining Evolution: Bitcoin mining has grown from CPUs to GPUs, FPGAs, ASICs, and ultimately, large industrial facilities. As mining technology has advanced, so has its complexity and centralization. Check out bitcoinminingmuseum.com 

4 History of Bitcoin Mining History of Bitcoin Mining Resurgence of Home Mining: Hardware like the BitAxe brings mining back to individuals, lowering barriers to entry and supporting open source innovation and decentralization. Make ASICs Great Again 

5 Home Mining in the Current Environment Home Mining in the Current Environment ● Challenges: The high costs of ASIC hardware and increasing network difficulty can discourage solo miners. ● Opportunities: Affordable devices like the BitAxe are empowering individuals to mine Bitcoin, participate in network security, and promote decentralization. Hashrate ATH – Recently passed 1 Zetahash 

6 Decentralization Through BitAxe Decentralization Through BitAxe Impact: The BitAxe allows individual miners to join the Bitcoin network with affordable, efficient hardware (based on a single ASIC chip), promoting decentralization. Experimentation: Its user-friendly and low-cost setup enables hobbyists to experiment with various setups and mining pool configurations without large-scale investment. Check out Open Source Miners United 

7 Pooled Mining Pooled Mining Purpose: Pooled mining enables collaborative work, leading to consistent payouts. Miners can use platforms like Ocean.xyz for solo or pooled mining with independent block template preferences. Some common payout schema: ● Pay-Per-Share (PPS): Fixed payout per valid share, ensuring stable income, but no bonuses for lucky periods and no transaction fees included. ● Pay-Per-Last-N-Shares (PPLNS): Payouts based on shares contributed in the last N shares when a block is found, leading to more volatile earnings, with potential for higher payouts. ● Pay-Per-Share Plus (PPS+): Combines PPS for block rewards with PPLNS for transaction fees, offering stable payouts with potential extra earnings. (viabtc.com) ● Full Pay-Per-Share (FPPS): Similar to PPS, but includes transaction fees in the payout for more comprehensive earnings. (brains.com / foundrydigital.com) ● TIDES (Transaction-Based Incentive Distribution System): A reward system that adjusts payouts based on individual shares, reducing variance and offering more transparent and predictable rewards. (ocean.xyz) Block Rewards, Fees, Shares, and Luck 

8 Solo Mining (Lottery Mining) Solo Mining (Lottery Mining) Solo mining offers full control over earnings but results in infrequent rewards. This setup is ideal for miners seeking self-sovereign operation. Solo mining is when a miner works alone to solve blocks, competing with the entire network. ● Reward Structure: The miner gets the full block reward only if they solve a block, with no intermediate payouts. ● Probability: Success depends on their hash rate compared to the network's total, making wins rare. ● Advantages: Full control, no pool fees, and maximum decentralization. ● Challenges: High risk due to payout delays and low chances without significant hash power. ● Tools: OSMU projects such as the BitAxe offer an accessible DIY solo mining solution at a low cost point while maintaining self-sovereignty, decentralization, and optimization. Test your luck! Compete with the entire network! 

9 Some Recent Solo Mining Wins Some Recent Solo Mining Wins Improbable but not impossible ~ 12 blocks solo mined in ‘24 

10 Some Recent Solo Mining Wins Some Recent Solo Mining Wins 2 blocks solo mined from Bitaxes in last year 

13 Run your numbers Run your numbers HashRate Index - Bitcoin Mining Profitability Calculator SoloChance.com - Calculate the chance of hitting a bitcoin block when solo mining. Check historical revenue averages and lottery mining odds S19J Pro+ Bitaxe Gamma 

17 Electricity Costs and Efficiency Comparison Electricity Costs and Efficiency Comparison BitAxe 601 Gamma ● Hash Rate: 1.2 TH/s. ● Power Consumption: ~18 watts (15 J/TH). ● Monthly Cost: Estimated at $1.30 - $2.60 per month at $0.14 per kWh. ● Advantages: High efficiency and affordability, ideal for decentralized home mining. Antminer S19j Pro+ ● Hash Rate: 120 TH/s. ● Power Consumption: 3,250-4,080 watts (27- 34 J/TH). ● Monthly Cost: Roughly $326.59 - $411.84 per month at $0.14 per kWh. ● Ideal Use: Best suited for larger facilities with reduced power costs. These numbers are only estimates - YMMV The BitAxe’s efficiency makes it an excellent choice for cost-effective home mining, contrasting with the high-power S19, generally used in large-scale mining operations. 

18 Mining Pools Mining Pools Ocean.xyz Mining A mining pool providing solo and pooled mining options, with performance tracking and data visualization for miners. Public Pool (web.public-pool.io) For miners seeking control over rewards, public-pool.io offers independent block payouts and affiliate reward- sharing options. Noderunners.network Small up and coming solo pool for pleb home-mining enthusiasts looking to lottery mine. We will start with Public Pool which is the default pool on BitAxe 

19 Setup - Connecting BitAxe to a solo pool Setup - Connecting BitAxe to a solo pool Steps: 1) Connect your Bitaxe to the power supply and wait a moment for it to boot. 2) Start your browser and open the SSID / IP address shown on the BitAxe screen. Check out The Ultimate Bitaxe Setup Guide 

20 Setup - Connecting BitAxe to a solo pool Setup - Connecting BitAxe to a solo pool Steps: 3) Open the settings menu on the top left of the page and select “Network”. 4) Fill out your wifi data (in this case we’ll be using a mobile hotspot). 5) Under “Settings”, keep the default “Stratum Host” and “Stratum Port” (public-pool.io and 21496) 6) The “Stratum User” is filled with the bitcoin address you want the rewards to be sent to. Additionally you can add a dedicated worker name by adding a "." after your bitcoin address followed by the worker name. 7) Save the settings and restart your Bitaxe. Check out The Ultimate Bitaxe Setup Guide 

21 Optional Setup - Running a Bitcoin Node with Knots Optional Setup - Running a Bitcoin Node with Knots Objective: Use Knots as the Bitcoin node for enhanced template options on Start9OS or Umbrel. Steps: ● Install Bitcoin Knots on StartOS and synchronize the timechain. ● Configure Knots to include / exclude certain transaction types (default is usually best) Check the Knots setup instructions & config 

22 Optional Setup - Running a Bitcoin Node with Knots Optional Setup - Running a Bitcoin Node with Knots Objective: Configure Knots options such as Datacarrier Size Advanced configuration – Select what data you prefer to relay 

23 Setup - Configuring C-Lightning for Bolt12 Invoices Setup - Configuring C-Lightning for Bolt12 Invoices Objective: Use Bolt12 for managing mining payouts through Lightning. Steps: ● Install C-Lightning on StartOS. ● Enable Bolt12 for lightning payouts. Check ocean.xyz/docs/lightning 

24 Setup - Configuring C-Lightning for Bolt12 Invoices Setup - Configuring C-Lightning for Bolt12 Invoices Generate a bolt-12 offer and configuration message to import the payout scheme into Ocean. Check ocean.xyz/docs/lightning 

25 Setup - Install and Configure DATUM Setup - Install and Configure DATUM Objective: Use DATUM with your node to interface with the mining pool Install DATUM Gateway or custom work issuance and tracking, as detailed in the DATUM setup documentation. Works as an interface between your node, miner, and the network 

26 Setup - Install and Configure DATUM Setup - Install and Configure DATUM Configure DATUM for solo (lottery) mining To lottery mine with Datum-Gateway, simply remove the text from Datum Pool Host in your config. With default settings, you will Pool Mine on OCEAN and automatically switch to Lottery Mining if the pool were to ever go offline. If you wish to disable this, disable Failover To Lottery in your config. You’ll also want to disable “Pooled Mining Only” 

27 Additional Hardware Additional Hardware Node Running Start9OS ◦ Device: Dell Optiplex 9020M Micro PC with 8-16 GB RAM and a 4TB SSD. ◦ Functionality: Configured for running Knots, C-Lightning, and DATUM on Start9OS for a decentralized mining experience. Simple, cheap, home server / node setup 

28 Software Software StartOS ◦ Knots: A Bitcoin Core variant with enhanced privacy and decentralization features. ◦ DATUM: A gateway for tracking mining metrics and enabling work issuance, documented in the Ocean.xyz DATUM guide. ◦ C-Lightning: Supports Bolt12 offers for Lightning payouts. AxeOS ◦ A custom firmware optimized for BitAxe, focused on minimizing latency and maximizing efficiency in solo mining. Knots is an alternate bitcoin implementation by LukeDashJr 

29 Additional Resources Additional Resources Questions? AxeOS Github Ultimate Bitaxe Setup Guide The Second Bitaxe Block Bitaxe.org Open Source Miners United Home Mining Wizards 

30 Additional Resources Additional Resources The Evolution of Bitcoin Hardware Ocean Pool’s DATUM is live – here’s how it’s different than Stratum V2 AxeOS Documentation: Setup guide for BitAxe firmware and configuration. StartOS Services: Instructions for Knots, Core Lightning, and DATUM Gateway. Ocean.xyz DATUM Documentation: Configuration and connection details https://t.me/HomeMiningWizards: Learn tips and tricks from fellow plebs Bitaxe.org: Source design files, hardware, and follow the movement Community Insights: Kevin Altair on BitAxe Education John Stefanop on Solo Mining FutureBit on Solo Mining History EconoAlchemist - Solo Mining Rewards Luke Dashjr on Block Template Creation https://www.solosatoshi.com/the-second-bitaxe-block-a-new-era-of-home-minin g/ Questions? 

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