How Long Does it Take to Mine 1 Bitcoin by Yourself?

Mining Bitcoin is a complex process that requires specialized hardware and software. The amount of time it takes to mine 1 BTC depends on the type of hardware used, the difficulty of the mining algorithm, and the size of the mining pool. Mining pools that invest in a large amount of expensive mining hardware are most likely to become the first to validate a new block and pocket freshly mined Bitcoin. The hash difficulty algorithm is the consistent factor that determines how long it takes to mine 1 BTC.

Of the many cryptocurrencies in the world, there are others, besides Bitcoin, that you can extract from your laptop or PC. However, miners must mine a block, with the reward set at 6.25 BTC per block. The use of electricity to mine Bitcoin has generated criticism for its environmental impact. This makes Bitcoin mining in a sense “slower”, as the relative chances of receiving Bitcoin as a reward diminish for both solo miners and mining groups.

Much of the reasoning is that Bitcoin was designed to be anti-inflationary: the mining protocol was masterfully created to support this goal, with only 21 million Bitcoin mined in circulation. Nevertheless, the industry is exploring cleaner mining practices, such as using a volcano in El Salvador as an alternative source of energy to mine Bitcoin. In order to have a chance at success, miners must invest in state-of-the-art mining systems. Free Bitcoin mining or Bitcoin mining on a phone won't work, at least not in the traditional Bitcoin mining sense.

The software connects to the hardware to mine bitcoins directly or, more often, to a mining pool where several users share the power of their hardware and earn bitcoin shares.

Shelly Riechman
Shelly Riechman

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