How Long Does It Take to Mine Bitcoin?

The development of technologies affects all areas of our lives, including the fast-changing and popular cryptocurrency world with many admirers worldwide. Most of them want to start mining. Opportunities open up for anyone willing to mine Bitcoin and any altcoins. Just dive into this world by purchasing high-performance equipment. New miners are always wondering: ‘How long does it take to mine a Bitcoin?’

What is Hashrate?

Hashrate, also known as hash power, is the first and most important parameter in the crypto world that newcomers should learn about.

This indicator directly affects how many Bitcoins can be mined per day by users' devices. Hashrate is a basic concept of the cryptocurrency world. Its main function is to measure the computing power of hardware for mining BTC or altcoins. This parameter shows the speed at which your equipment will solve a hash and find a valid block.

Hash is the next crucial concept in digital coin mining. It’s a code displayed as a unique set of digital characters. Each cryptocurrency transaction gets its own unique hash. Then, there is a competition between miners. The winner should match the set of digital characters faster than others.

Today, it’s impossible to predict the hash of any transaction. This code is generated, which complicates the matching process. Miners have to try out many possible characters until the right ones are found. This makes the hashrate the most significant parameter in mining. The hash power of your equipment shows how fast the correct set of digital characters will be found.

Hashrate depends on how many hash calculations your hardware can compute per second. Hashrate is measured in hashes per second — h/s. Here are the hashrate units that measure the computing power of your hardware:

• 1 KH/s – one kilohash (one thousand hashes) per second
• 1 MH/s – one megahash (million hashes) per second
• 1 GH/s – one gigahash (billion hashes) per second
• 1 TH/s – one tetrahash (trillion hashes) per second
• 1 PH/s – one petahash (1,000 trillion hashes) per second
• 1 EH/s – one exahash (one million trillion hashes) per second

So, if you’re wondering how to make your mining profitable and how much Bitcoin is mined, it’s worth buying high-performance hardware. This will increase your chances to find hash and get a significant reward.

Why Hashrate is Important

Hashrate is one of the most crucial parameters in mining. It shows how many days to mine Bitcoin. Hashrate helps you find out how many altcoins you can get per day and more.

Hash power reflects the performance of your mining hardware. This vital metric also affects the security of BTC and other altcoins. Hashrate is essential for digital coin mining since it influences its difficulty and network security. This parameter is a key point to finding out how long 1 Bitcoin is mined.

Hashrate also serves as an indicator of the network’s robustness. It depends on the computing power of the devices participating. In other words, the more miners join the network, the more hashrate increases. As a result, it adjusts mining difficulty upward and reduces the chances of network attacks. It also works in reverse — the fewer computing resources are available, the lower hashrate. A declining hashrate means increasing vulnerability of the cryptocurrency network to attacks.

Learning about these mining parameters helps you figure out how long Bitcoin is mined.

The Relationship Between Hashrate and Mining Difficulty

The relationship between these two crucial mining parameters directly influences how much to mine 1 Bitcoin on a miner’s device. These two central concepts in the crypto world are the key points for making your mining profitable.

It’s worth considering the relationship of these important parameters in detail and learning how it affects Bitcoin mining. The mining difficulty is the blockchain network parameter. It shows the difficulty of solving cryptographic puzzles to find a new block.

Mining difficulty plays a major role in preventing inflation in the crypto world and in maintaining a stable network. There is an adjustment mechanism to achieve it: Bitcoins protocol adjusts mining difficulty every 2016 blocks. Mining difficulty adjustment depends on how long it has taken miners to find the previous 2016 blocks. The standard time for finding a new block for BTC is approximately 10 minutes. If it takes less than 10 minutes, the difficulty level will increase — and vice versa.

The mining difficulty level depends on hashrate changes. The higher hashrate is, the more difficult it is to find a new block. The network hash power depends on several factors:

• Increasing number of new miners
• Upgrading of mining equipment

Hashrate affects cryptocurrency mining efficiency. An increasing number of miners involved in the mining process means the hash rate adjusts upwards. It also works in reverse – the fewer devices are available, the lower the hash rate. That means the more time it’ll take to find a valid block.

As a result, hashrate and mining difficulty are inseparable and crucial parameters of mining. Increasing hashrate and the number of miners decreases the time it takes to find blocks, which will increase mining difficulty.

Hashrate in the Bitcoin Mining Industry

The popularity of Bitcoin mining is still growing fast. So, cryptocurrency enthusiasts are trying to figure out how much to mine Bitcoins and make mining profitable.

Hashrate is the Bitcoin network parameter that displays its efficiency. The higher this number is, the more powerful the mining device you should have. Increasing hashrate makes this process more challenging. So, if you stick to Bitcoin mining, you need to look for a higher-performance device. This is the most crucial thing you need to pay attention to before starting since the purchase of powerful hardware can make your mining profitable. There is also an opportunity to maximize your profit by joining one of the largest mining pools — the EMCD Mining Pool. with daily payouts.

Today, efficient BTC mining can be ensured only by powerful ASIC miners. It’s worth figuring out how much you can mine Bitcoin by comparing more and less performance models of ASICs.

If you’re wondering if it’s worth mining on GPUs, you should know that they perform less efficiently than ASICs. GPUs can only offer profitable altcoin mining.

Nowadays, the mining process requires more powerful devices. So, hardware manufacturers compete to create more high-performance devices that will cope with the fast-growing hashrate of the Bitcoin network.

Bitcoin Mining Time

Every mining enthusiast wonders how much it takes to mine 1 Bitcoin. The first crucial thing for profitable BTC mining is buying powerful equipment. Keep in mind that the hashrate of your chosen device directly affects the mining profitability. The higher your device’s hashrate is, the more BTC will be mined.

Here are the parameters that can help you find out how much 1 Bitcoin is mined:

• Average block time – 10 minutes
• One block reward – 3.125 BTC

This information will help you assess your budget before buying suitable equipment.

How Much Will It Take to Make 1 Bitcoin on a Videocard?

To figure out how long does it take to mine one BTC on a graphics card, you need to look through an example. Let’s consider a powerful video card model suitable for mining, such as NVIDIA GeForce RTX 3090 with these parameters:

• Hashrate – 121 MH/s
• Power Consumption – 350 watt
• Price – $1,201

You can use any online calculator to find out the necessary information. For example, according to the Bitcoin Mining Calculator, NVIDIA GeForce RTX 3090 will not be able to mine even 1 BTC.

So, there is no point in figuring out whether it is possible to mine Bitcoin on a video card or not. There is no option to use your graphics card for mining BTC since it’s a waste of your time and money. Unfortunately, these devices have insufficient performance for mining Bitcoin.

How Long Does It Take to Earn Bitcoin?

If you’re interested in Bitcoin mining time, the first thing you need to do is choose the ASIC miner as the most powerful equipment for BTC mining. Let’s find out how much you need to mine to earn 1 Bitcoin taking the Bitmain Antminer S19 XP model as an example. Here are its characteristics:

• Hashrate – 140 TH/s
• Power consumption – 3010 watts per hour
• Price – $5,975

With the data above, this ASIC model will be able to generate 0.00058875 BTC per day or 0.21 BTC per year. Accordingly, if you want to find out how long it takes to earn one Bitcoin using this device, you need to do some math. According to the Bitcoin Mining Calculator, it’ll take a little less than five years to mine one BTC without considering the cost of buying and maintaining equipment.

How Many ASICs Do I Need to Mine 1 Bitcoin?

You can use the online Bitcoin Mining Calculator to find out how many ASICs you will need to mine BTC. One high-performance ASIC can mine 0.21 BTC per year. Accordingly, you need to buy five devices to get one Bitcoin per year. If you want to mine one BTC per day, you have to create a 1700 ASIC farm to achieve this goal. Keep in mind that you need to assess your budget before buying this powerful equipment.

So, if you’re interested in mining Bitcoin, it’s worth noting that this process can be profitable. The vital conditions you need to provide are to have a good starting investment and to create a mining farm with powerful ASIC-miners.

F.A.Q.

What is Bitcoin mining for?

Bitcoin mining can be quite a profitable process if you have cheap electricity and a huge investment to start with.

How many more years will Bitcoin mining be relevant?

BTC mining will remain relevant for many years to come. Even if the last BTC is mined, many options will still be left to profit from mining lost Bitcoins and increasing transaction fees.

How many Bitcoins are left for mining?

Today, 90% of Bitcoins, or 18.9 million BTC, have already been mined. The total Bitcoin supply is limited to 21 million. Only 10 % of Bitcoin is left in the crypto world, or approximately 2.1 million BTC for mining. But it will take much longer to mine the last 10% than it took to mine the first 90% of Bictoin.

Until what year will Bitcoin be mined?

Even though 90% of Bitcoin has already been mined, it’s estimated that the last BTC will be mined only by the year 2140 — more than a century after the first BTC was mined. It’s going to take so much longer to mine the last remaining coins because the more Bitcoins are out there, the more computing power is needed to mine new ones.