RetroMike provides a sobering reality check on mining economics by replacing crypto hype with honest, data-driven mathematics. This analysis effectively demystifies the "lottery" allure of solo mining, offering a practical perspective for any small-scale hardware enthusiast.
Deep Dive
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Deep Dive
Stacking Sats With Canaan Avalon Nano 3SAdded:
This is the Canon Avalon Nano 3S and this was sent over uh courtesy of the great folks over at Altterare Tech. They went ahead and sent me one of these. I ran into them at the Bitcoin conference.
Uh great group of guys over there and uh we got to talking about, you know, me putting out some of the uh solo mining videos and some of the stuff that I've been building to help the community. and they wanted to send me over a Nano 3S, which is actually a system that I've never had. And uh they also sent over this kind of expandable dock. So these are an interlocking uh dock for the Nano 3S. The actual minor sits here. Power supply sits there. So uh pretty cool. And I actually have a spot that I can fit about four of these interlocking. So, we're going to take a look at this today. And I think my plan may be to actually pick up a few more of these from Alter Techch, interlock them, and but we're going to be talking about that later in the video. Uh, but you can kind of see here, uh, they do include this nice solo mining uh, card with some preferred poles. And I also had the privilege of sitting down and talking with the owner and founder of Atlas Pool and we kind of talked about the uh setup that he has built and what makes his pool uh infrastructure different than any other solo pool out there. So uh really awesome to sit down and talk with him about that. Definitely recommend that pool as well if you're looking for a solo mining pool. Uh, but we're going to go ahead and get this open and take a look at it. As I mentioned, I've never had a Nano 3S. I did have the original Nano 3. Uh, and that was a great unit.
Never had a problem with it. Uh, but today we're going to go ahead and take a look at the 3S. Now, this is a 6 Terraash unit, about 140 watts.
Kind of see there, we've got the black version. They also sell this in white and I believe they also have a white stand for that one, but we went ahead and asked them for the black setup which was awesome. And you can kind of see there uh 6 terraash 140 watts max. There are three power modes similar to the original Nano uh that you can run. So, you can run a low power mode, a medium power mode, or the full hash rate mode, uh, being that 6 terraash.
We're going to go ahead and, uh, get this opened up and take a look at the unit.
And now, you can see, so, this one has the little circular screen on it.
There's the front. Uh, we'll have our, uh, we should have our fan grill that we can put there. And then there you can see the three fans on the inside. We've got USBC power connector. I believe this is 28 volt at 5 amps. Is it? I believe it is. If we take a look here. Yep. So, we've got a 28 volt 5 amp on that. We've got a little USB port here. We're going to be able to plug in a Wi-Fi dongle in that and be able to connect this to a Wi-Fi.
And here is that little magnetic fan grill. So, we just go ahead and snap that in place. There.
And let's lift this up and out. And here you can see right there is our uh reset key if we need to do that for anything.
And let's go ahead and uh get this out.
The important thing here is the Wi-Fi module is inside here.
And there you can see it. So, it slid right out there. We're going to go ahead and make sure we plug this in.
We're going to need that in order to get that Wi-Fi. Now, I believe you can do a USB to Ethernet adapter. However, I'm not sure all the supported modules. Uh, but for me, I'm going to be running this on Wi-Fi.
And they do give you some documentation in here. We're not going to take that out because we're just going to be doing a super easy setup today. Uh using the mobile app. Uh but opening the box further, we've got our user manual for the power supply and the actual power supply. When we go ahead and get out of here, this is a revamped power supply.
Uh this is different than the original uh Nano.
So, um should be a little bit better uh on some of the issues that were being experienced with those earlier ones. Uh but pretty cool translucent uh casing here. You can kind of see the circuitry on the inside um at least on kind of the bottom. This is really the top uh but it looks like the uh bottom of the PCB there. And let's go ahead and get our power cord out here. And we're going to get this plugged in and turned on.
And then we're going to hop in the mobile app. Um, it's the Canyon Avalon family app. It's the app that you're going to want to download and install on a mobile device.
But let's go ahead and get this plugged in here.
And we can kind of see it booting up there. Let's go ahead and peel back the film here.
Expose that screen. It's going to say, "Hi." We're going to give this a minute to fully boot up. And here you can see it tells us zoom in there. It actually tells us to open the Canon family app uh to configure it. We got it all set up within the app. And it's going to be a little bit hard to see here on this uh the reflective screen uh from the phone, but uh you can see that we do have it running. It's actually currently about 6.56 terraash. So it's performing a little bit better. And uh we can see we've got the IP address on the screen. So it's all good. We can actually within the app we can configure the pool or we can head on over to the IP address of the uh machine of the minor on a web browser uh on a computer or even on our phone if we want to configure it through the web UI as well, which is actually my preferred way to do it. So, if we hop on over to the IP address in the web browser and I can use a default password of admin and we can go ahead and log in and we can see everything is set up on here.
There's currently no pool. So, I'm going to go ahead and uh set up my pool on here.
Uh but we're going to hop on over to the computer to set this up. But before we do that, I want to talk about uh what my plan is for this unit. So earlier I talked about uh potentially getting uh a few more of these and I kind of mapped out I did some calculations on what it would look like for uh pool mining versus solo mining. My end goal with this unit is to stack sats. So uh for me I don't care how I do that whether that's pool mining whether that's solo mining on autoconverting. So I went ahead and I did some math. My idea here is get four of these units and put each of them on a different method, but in the end they're all just stacking sets.
So I kind of want to talk talk through the math I did on this. So and again this is all subject to change obviously as network hash rate changes as difficulty changes um as havingings happen over time these numbers are always going to be shifting. Uh, so this is kind of a snapshot in point uh when I'm setting up this device. So keep that in mind. But essentially, if we pull mine with this right now, we can do about 23 cents a day or $84 a year. If we solo mine ecash and we autocon convert that into uh Bitcoin, we're looking basically uh solo mining six blocks a year, which is about $85 a year. So it's interesting to see that like these are right on par with each other. um solo mining Digibite a block a week on average. It will with six terraashes it'll fluctuate between like five and seven days right now. Um but realize that Digibbyte uh reduces does a small reward reduction every month. So it's it's the equivalent of a 4-year having. It just it happens uh over the course of every month. So keep that in mind. Uh, but we'd be looking at basically a block a week or $70 a year. Um, and obviously if we're talking about more frequent blocks, there's room there that if you have worse luck or better luck, you could uh severely undercut that or severely overperform there. Um, BSV, this is an interesting one. Uh, right now it's about one and a half blocks a year on the projection. Uh, so I have that slated I'm doing a one-year analysis here. So, I've got that slated at one block a year, which is $53. But again, if you get lucky there and you maybe hit two blocks, it could be, you know, $110 a year. And obviously, prices change.
Uh, this could adjust things. Part that gets really interesting here. The two coins people typically solo mine with these, which is an insane long shot. Um, but I will say that I have created uh some easy ways to solo mine. uh Bitcoin Cash and Bitcoin and every known block that has been hit on my Bitcoin Cash node setups have come from Can-Am devices. So, uh in fact, uh a three I know somebody that has a 3S that has hit a couple blocks um using my setup. So, there's obviously a chance, but with the current odds, you're looking at 17 years to hit a block. Obviously, there is a reward reduction every four years. So, uh from a probability standpoint, by the time you hit a block, you could potentially be looking at a very low reward. Uh Bitcoin, you the current probability is a block every 2768 years. Uh and so in my mind, uh you know, everybody says these are lottery devices. They don't have to be lottery devices. you can use them to accumulate SATs. And especially if you're one of those people that believes that Bitcoin could hit a million dollars in the future, why not use these devices and accumulate SATs now while you can instead of aiming for that long shot?
So, that is the mindset that I am taking uh with the solo miners now. So, what I'm looking at is probably doing um this one I think I might put on Digibyte solo mining it and autocon converting it over. And then I'm going to pick up three more units. I'm going to put um one on ecash solo mining. I'm going to put one solo mining BSV and I think I may take the last one and I may actually just direct pool mine with it and get those trickle in rewards every day. So, it's not going to matter if I hit a solo block or not. I'm still going to trickle in those rewards. Uh, I'm still kind of on the fence if I'm going to do that or if I'm going to take that long shot maybe on uh Bitcoin Cash. We'll make that distinction once I uh get that final unit. But, we're going to look at procuring a couple more of these units.
If you're interested in any of these units, I will have an affiliate link down below uh to Alter Tech. I think right now they're like $220 uh for basically this setup I have here.
They have a coupon code right now. I'm not sure how long that coupon code's going to last. Um but I will uh link that down below if you're interested in that. But for me uh because we're taking this approach, I'm going to go ahead and I'm going to put this unit on Digibite on Mining Dutch. Uh and that was the other thing I wanted to mention here.
All of these I will be putting on mining Dutch uh so that when that block gets hit, once that block gets matured, it will autocon convert it to Bitcoin and then I'll be able to get that Bitcoin payout. So, we're going to be doing Digi Bite here. Uh it'll be on there. And the other nice thing is in the event I potentially can solo mine uh one of the Ox Pal merge minable coins on Shaw 256, that would be additional rewards on top of that. And when I get to the unit that we may pull mine with here, we will be trickling in those merge minable rewards as well, which are going to allow us to stack uh autocon convert and stack to even more satoshi's. So that's the end goal here is to stack sats uh while we can and we're going to kind of go from there. So, uh, but before we do that, I want to go ahead and see what it looks like on docked up on the stand cuz that's actually how I'm going to have it. So, we're going to go ahead and power this down.
We've got it all kind of mounted up here. And so, this is what it looks like. It actually sits in here really snug, which is nice. So, we've got the unit sitting here. We've got the power brick to the side. We've got our little um cord that is basically our DC to here sitting in there. And then we've got our AC out to the outlet coming out of the back here. Uh so that that can plug into the wall. So a nice tidy setup that we got going on here. Really like it. And what's going to be really cool is we're going to be able to interlock these and we're going to be able to put these on a shelf and not worry about them shifting around or anything like that. They're just going to kind of interlock here.
Um, it's got some weight to it, which is nice. I like this. Uh, so this is going to be a really cool setup. Like I said, we're going to be getting some more of these. I'm going to be uh going to start solo mining Digi Bite. We're actually going to I'm going to take this. I'm going to put it in its location where I'm going to be running it from. Then I'm going to hop on over to mining Dutch. I'm going to re I'm going to configure everything and uh then we're going to start basically start sacking stacking SATs. So that's it for this video. Uh, thank you guys for watching.
Just kind of wanted to showcase this unit. Again, big shout out to Altter Tech for sending this over for me and basically allowing me to uh put out this video for you guys and also uh giving me the ability to stack some sats at only 140 watts.
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