A bitcoin mining rig with a hash rate of just 500 gigabits per second (Gh/s) successfully mined a block on July 24, according to an X post by Altair Technology, a retailer of bitcoin mining rigs. Based on current bitcoin prices, the block is worth around $206,000. "Congratulations to this miner on using Bitaxe on @ckpooldev to mine the first individual BTC block at a hash rate of around 500Gh," the post read. The device, called "Bitaxe," successfully mines a block, albeit with a one-in-a-billion chance every ten minutes.