Mining One Bitcoin – Realistic Timeline for Beginners

Why don’t we talk about “mining 1 coin immediately”?

In the early days, individuals could mine Bitcoin using a personal PC or GPU, but now the network’s hash rate has skyrocketed and the difficulty continues to rise, making it nearly impossible. Nowadays, mining 1 BTC is mostly accomplished by large-scale mining farms. For newbies, the pursuit of “immediately obtaining 1 coin” easily overlooks costs, electricity expenses, and risks.

Latest network data and time estimation

The current network difficulty is approximately 146.72 T. Assuming a hash power of 390 TH/s, a power consumption of 7,215 watts, and an electricity price of $0.05 per kilowatt-hour, it is estimated that it would take about 5,984 days (approximately 16.4 years) to mine 1 BTC. If the hash power is lower or the equipment is older, the time could extend to several decades. In other words, it is theoretically possible for an average person to mine 1 coin in 5 to 10 years.

Newbie mining machine investment scenario analysis

• Entry scenario: A single mining machine has a hash rate of tens of TH/s, accounting for a very low percentage of the network, taking decades to mine 1 coin.
• Medium investment: A few mining machines with a total of hundreds of TH/s can theoretically mine 1 coin within 3-10 years, but the risks of rising costs and increasing difficulty are still high.
• High investment: If you invest thousands of top mining machines in a low electricity price environment, mining 1 BTC can be achieved in several months to years.

Time examples: 1 year, 5 years, over 10 years?

• Within 1 year: It is almost impossible unless you have super large-scale computing power.
• Within 5 years: moderate investors may achieve this, but cost control and equipment depreciation are still required.
• 10 years or more: The most common cycle for small-scale or home miners.

In summary, “How long does it take to mine 1 Bitcoin” depends on computing power, investment, and market conditions.

How should a newbie start a mining plan?

• Set realistic goals: start with the goal of “earning 0.01-0.1 coins per month.”
• Calculate cost and benefit: Estimate returns, electricity costs, equipment investment, etc. using a mining machine calculator.
• Choose low electricity price areas: saving on electricity expenses is key.
• Join a mining pool: improve yield stability and reduce waiting time.
• Pay attention to difficulty changes and device updates: difficulty adjusts every two weeks, and aging devices will reduce competitiveness.
• Assessing risks: including equipment damage, price fluctuations, policy changes, and rising electricity prices.

Summary and Suggestions

For newbies, mining 1 Bitcoin is not a short-term goal. The high network difficulty and equipment costs greatly extend the time required. It is recommended for newbies:

• Start by participating on a small scale to accumulate experience.
• Choose efficient equipment and suitable electricity prices;
• Treat “mining 1 coin” as a long-term goal rather than a short-term pursuit.

Through rational planning and steady investment, you can still achieve long-term gains in the Bitcoin ecosystem.