"Self-Hosted Solo Mining" refers to the setup where you mine Bitcoin (or other cryptocurrencies) on your own, using your own mining hardware and software, without joining a mining pool run by a 3rd party. This setup runs on your personal infrastructure, meaning you're fully in control of the mining operation, from the hardware to the software and the internet connection.
Here’s why it’s pretty cool:
I want to stress, however, that you DO NOT need to self host your own mining setup. If you just want to Solo / Pool mine to a server hosted online, great! Join an online pool and enjoy. This is a personal choice!
Running your own self hosted setup is a rewarding experience, knowing you are contributing to the network's integrity as well as hosting your OWN solo mining setup. That's very cool!
Furthermore, when you have your Bitcoin Node sync'd and you are running your own pool, you literally have the WHOLE bitcoin network and every transaction, ever, on your own computer. That's incredibly cool!
Quite simply, a small computer and a 2tb SSD or equiv drive.
If you are "tech savvy", you can install linux, install the Bitcoin Core and then Public-Pool. Once all of this is setup, you can start mining to your own self hosted mining pool setup. There are obviously a tonne of steps between these 3 points however it's definitely doable.
However, there are some fantastic one-click(ish) installers that take care of all of this hassle for you, of which most are open source and free.
A few, in no particular order:
Umbrel
Start9
Run.Citadel
Personally, I use Umbrel. It is beautiful and it just works.
You can buy a plug and play solution direct from them or you can buy yourself something like a Lenovo Thinkcentre from ebay for £100, get a new 2tb SSD, and get rolling.
You can also install Umbrel on a virtual machine on your PC/Mac if you have the skills to do so.
Anyone can grab a computer they have laying around or purchase something from eBay and get Umbrel (or equiv') installed.
As much as I REALLY want to sell turn-key solutions for self hosted mining setups, I cannot support all technical questions that will come from supplying the hardware. If you have never used Linux before, it will be a steep learning curve. If this is the case, buy a plug and play solution direct from Umbrel or equiv'. If you can install Linux then you wont need to buy a computer from me!
The thing to consider is what the ethos of 'Self Hosted Solo Mining' is. If you connect to any 'Solo Pool', technically, yes, you are solo mining. If you mine the block, the block reward goes to you. This is solo mining as we have grown to know it.
However, the word "solo" is the important factor here. The definition of 'solo': "done by one person alone; unaccompanied.".
Therefore, to be truly solo mining, you should have your own Bitcoin node and your own solo mining host running Public-Pool for example, as previously mentioned.
This way, you not only support the integrity of the network but you are also 100% in control and not relying on any 3rd party to provide the pool, etc.
I will refer back to my new favourite saying:
Solo Mining: Your Rigs. Your Rules.
Bitcoin mining is the process of adding new transactions to the blockchain, a public ledger of all Bitcoin transactions. This is done by using powerful computers to solve complex mathematical equations that verify the authenticity of the transactions and add them to the blockchain. Miners are rewarded with newly created bitcoins for their efforts, known as a "block". A block reward is currently 6.25 Bitcoin!
Getting started with The Solo Mining Co' is easy!
Our plug and play bitcoin miners make the process simple and accessible for everyone.
All you need to do is follow these simple steps:
Our miners are designed for use in the home environment, so they are discrete, quiet and unobtrusive. You can mine bitcoin without any technical knowledge or experience. Our hardware does all the hard work for you, so you can sit back and watch your earnings grow. Join the bitcoin revolution today with The Solo Mining Co.
Solo mining refers to the process of an individual miner attempting to solve a block on their own. This means that they are solely responsible for finding a solution to the complex mathematical problem that is required to add a block to the blockchain. If successful, the miner is awarded the entire block reward.
Pool mining, on the other hand, involves multiple miners combining their computational power to solve a block together. When a block is solved, the reward is divided among the contributing miners according to their share of the total computational power.
While solo mining can potentially result in a larger reward if successful, it is also much more difficult and less predictable than pool mining. Pool mining offers a more consistent payout, but the reward is typically smaller than what a successful solo miner would receive.
At The Solo Mining Co', we offer hardware specifically designed for solo mining, giving our customers the ability to take on the challenge of finding a block on their own. However, we also recognize the benefits of pool mining and provide options for our customers to switch between solo and pool mining as they see fit. All miners we sell can be used for solo or pool mining.
Nowadays, to earn lots of revenue with Bitcoin mining you need lots of very large, noisy, power-hungry hardware.
14 years ago, you could mine Bitcoin with a home computer. As the Bitcoin ecosystem grew, so did the competition. As more and more people Bitcoin mine the blockchain, the "network difficulty" gets harder (every 2 weeks, by itself, in fact!). As the difficulty gets harder, you need more powerful hardware and thus the cycle continues to where we are now.
10 years ago, a single CompacF stick (good for around 300gh/s) would've earned you around $50 a day. Now, the same stick will see around $0.02 a day. This is because the network difficulty has grown exponentially and has no sign of stopping.
In turn, this means hardware designers need to build bigger and faster bitcoin miners to compete. This comes at a cost. Power, heat and noise. To have a miner that generated $50 a day today would require about 24,000w of power and it would sound like a jet engine. Imagine a 2kw oil-filled heater you might have at home. Imagine 12 of them in a room, unable to have a conversation, even if shouting. It's going to get uncomfortably warm and very unpleasant very quickly. Imagine the electricity cost too...
Not everyone has £3000 a month to spend on electricity for 24kW of mining equipment, let alone the upfront cost of the units. Plus, the returns diminish as mining difficulty increases, and let’s not forget the block reward halving every four years. Currently, it's 3.125 BTC, and by March 2028, it'll halve again. With the rising electricity costs, expecting a return just doesn’t make sense.
This is where the solo mining concept comes in, or "lottery mining" as it has been called of late.
Solo Mining strips everything back to basics, as it was before big industrial mining farms owned a large chunk of the playing field.
Having a small solo / lottery miner on your desk, doing its best to try and hit the bitcoin block may see huge rewards (of a whole bitcoin block, currently 6.25 BTC) or it may see nothing at all, it is a "lottery". Look at it as a self-renewing lottery ticket that just keeps going and going. Every time a new block is found, the Bitcoin network generates a new block and it starts all over again until the final bitcoin block is mined (sometime in the year 2140).
The more power you have in your mining rigs the more chance you have of solo mining a block.
For real odds of solo mining based on the current difficulty, check out solochance.com to give you real-time odds based on YOUR hash rate.
Note, if you want to pool mine, that's fine too. Go to cryptocompare.com to see the odds based on your hardware setup. Don't forget to factor in the cost of electricity, if you pay for it.. (Solar, wind, etc!)
Check out the individual miners we sell and take into account their power usage. Most of them are the same as charging a phone.
It's never to late to start mining bitcoin. Get involved!
Choosing a Bitcoin miner depends on your personal preferences. do you give priortiy to design and looks, as well as expandability or just hardcore mining power?
Is it a small unit to sit on a desk or are you going all-in and trying to hit a block? That choice is yours.
The Solo Mining Co's carefully selectred range of mining hardware offers a variety of features such as customizable power settings, expandability options, and a sleek design.
We recommend doing research and comparing the different options available to find the best fit for your specific situation. Any questions, just ask!
That depends. Some miners - the Bitaxe Ultra for example, is a single chip stand-alone unit that will always have the same mining power (known as "hashrate"). The mining chip is built into the board.
The GekkoScience "SmartHub", for example, is designed to be the controller at the epicentre of your mining operation and as and when new hardware comes to market, the SmartHub will support it, thus making it upgradeable.
Mining requires electricity, it's as simple as that. Different miners have different hashrates which in turn have differing power consumption.
The Bitaxe Ultra pulls about 14w at the wall (about the same as a phone charging) and sits around 400 GH/s.
The GekkoScience CompacF also pulls around 11w at 300 GH/s.
If you have 6 x CompacF sticks, multiply 11w x 6 and so on.
The hardware supplied by the Solo Mining Co' has been carefully selected with power consumption in mind.
Electricity and internet (Wi-Fi or Ethernet, depending on the specific miner(s) you have.
You also need a bitcoin wallet address. You can create a wallet very easily on bitcoin exchange or on software on your computer (such as Ledger, etc). These are suggestions. Do your own research!
Also research best practices to store your bitcoin, There is a saying in the bitcoin world "Not Your Keys, Not Your Bitcoin". You do not want to lose access to your bitcoin.
Of course. You are browsing this website aren't you? If you can do that, you can set up one of our miners.
If all fails, we will happily help!
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Contact Us: For any shipping-related queries, please contact us at info@thesolomining.co
Returns: You may return unused and resalable items within 14 days for a refund. A 10% restocking fee will be deducted from the refund amount.
14-Day Fault Policy: If your unit develops a fault within 14 days of purchase and has been used within the manufacturer's specifications, we will replace it free of charge (FOC). This does not cover damage from misuse or unauthorized modifications.
6-Month Repair/Replacement: For issues arising within 6 months of purchase, we offer repair or replacement, provided the unit has been used as per manufacturer’s specifications. Customers are responsible for returning the item. This policy aligns with the UK Consumer Rights Act 2015.
Proof of Purchase: Please retain your receipt as proof of purchase to validate any warranty claims.
Exclusions: Our warranty does not cover damage due to misuse, unauthorized modifications, or environmental factors.
Processing Time: We aim to process all returns, refunds, and repairs promptly, typically within 7 days.
Original Purchaser: Refunds, returns, and repair requests are only available to the original purchaser upon presenting proof of purchase.
Contact Us: For any returns or warranty claims, please contact us at info@thesolomining.co
