Bitcoin Mining Pool vs. Solo Mining: Which One Should You Choose?

When setting up your Bitaxe Bitcoin miner, one of the biggest decisions is whether to mine solo or join a mining pool. Mining pools offer steady, predictable earnings by sharing rewards among many miners. However, many Bitaxe users prefer to mine solo for the chance to hit the jackpot – a full Bitcoin block reward all to themselves. Solo mining is often compared to buying lottery tickets, whereas pool mining is like earning a regular paycheck.

This guide explores the differences between solo mining and pool mining and will help you decide which approach is best for your Bitaxe miner. We’ll break down how each method works, their pros and cons, and why Bitaxe devices are especially popular for solo “lotto” mining.

What is Solo Mining? (The "Lotto Miner" Approach)

Solo mining means running your miner independently, without joining any pool. Your Bitaxe’s hashing power competes to find a valid block completely on its own. The odds of a small miner finding a block are extremely low – essentially like winning the lottery. But if you do succeed, you keep the entire block reward.

Because the probability of success is so low, using a Bitaxe for solo mining is often called “lotto mining.” It’s more about the thrill and the possibility of a big win than about steady income.

Pros of Solo Mining (Lotto Mining):

• Chance to Win Big – If you find a block, you get the full reward. In March 2025, a Bitaxe user mined a block and earned roughly $263,000.
• No Pool Fees – Solo miners keep 100% of the reward. No third-party pool fees apply.
• True Bitcoin Decentralisation – Solo mining supports the Bitcoin ethos of a distributed, decentralised network.

Cons of Solo Mining:

• Low Probability of Success – The odds are slim, and you could mine for years without finding a block.
• No Consistent Earnings – You either earn 3.125 BTC or nothing. There’s no middle ground.
• Patience and Persistence Required – Long periods without rewards make this a commitment-driven effort.

Best for: Hobbyists and those who enjoy the excitement of lotto mining and supporting the Bitcoin network.

What is Pool Mining?

Pool mining involves joining a group of miners who combine their hashing power. Rewards are shared based on your contribution. It’s about trading a huge solo jackpot for a regular trickle of smaller payouts.

Pros of Pool Mining:

• Regular Payouts – You receive small, frequent BTC rewards when the pool finds blocks.
• Better Probability of Profit – It’s easier to earn something by combining forces with others.
• Lower Risk (Predictable Income) – Pool mining smooths out variance, offering steady returns.

Cons of Pool Mining:

• Smaller Individual Rewards – Rewards are divided, so you earn only a tiny share.
• Pool Fees – Pools typically deduct 1–3% from your earnings.
• Centralisation Concerns – Large pools concentrate hashing power, which some view as a network risk.

Best for: Miners who prefer consistent earnings and lower variance. It’s a practical choice if you're aiming to cover costs or make a modest profit.

Why Bitaxe is Perfect for Solo Mining (Lotto Mining)

The Bitaxe is designed with solo “lotto” mining in mind. It’s low-power, affordable, and open-source, perfect for hobbyists and decentralisation enthusiasts. Bitaxe users often embrace the lottery mindset – accepting minimal or no daily rewards in exchange for the possibility of a jackpot.

In pools, Bitaxe might earn only 50 satoshis a day – often less than the electricity cost. But solo miners using Bitaxe love the independence and the chance of scoring a full block. It’s ideal for educational, ideological, and hobbyist mining.

Conclusion: Which One Should You Choose?

If you’re using a Bitaxe miner, we recommend solo mining (lotto mining). It captures the adventurous spirit of Bitcoin and gives you the chance – however small – to earn a full block reward. Solo mining with Bitaxe is about fun, experimentation, and decentralisation.

But if you want steady income, pool mining with a larger ASIC is more suitable. Pools are practical, but they’re not what Bitaxe is about. The Bitaxe’s real purpose is to give individuals a low-cost way to participate in Bitcoin mining – and maybe strike gold.

Ready to Try Your Luck?

Check out Bitaxe UK’s selection of pre-built Bitaxe miners and start your solo mining journey today. Set it up, point it to solo mining, and maybe you’ll be the next lucky miner to hit a block. Good luck and happy mining!