In this article, we are going to explain, how to mine 1 BTC in a day. As you may know, Bitcoin mining is a process in which miners use equipment with high computational power In order to maintain the network secure. Mining process consists of solving mathematical problem. Miners, who could solve the puzzle faster, will earn reward. Accordingly, they are eager to win the reward. As there is an intense competition among miners, working solo may not be efficient enough.The reason is that solo mining is costly and a time-consuming process.
Mine 1 BTC In A Day! ; The Number of Units Needed
Therefore, Miners combine their processing power to increase the chance of getting reward. As mentioned previously, miners use mining equipment and each unit of these equipment has a certain hash rate power.
Technically, it takes 10 minutes to mine a single block and add it to the blockchain. Each block has a 6.25 BTC reward for the miner who solved the mathematical problem faster. According to the competitive atmosphere of the network, it may take too long for a miner to mine a block by solo mining. It needs specific number of mining rigs. It is worth knowing that 900 BTC are being mined every day and the current total hash rate of Bitcoin network is around 159.8 EH/s. The F2Pool is the largest mining pool, which dedicated a significant amount of hash rate to itself. Its contribution to the network is approximately 15.1 % (about 136 BTC in a day).
Recent research show that statistically, the approximate hash power which a solo miner needs in order to mine 1 BTC in 1 day is about 0.11 % of the total BTC hash power equals to 175.78 PH/s. Considering Antminer S17e ASIC as a modern mining equipment that generates 0.064 PH/s, a solo miner needs to run 2474 units to mine 1 BTC in 1 day.
Researchers have also provided a new formula to calculate how long it takesfor a mining rig with a certain hash power to gain 1 BTC. Pay attention to put the hash rate in PH/s. The result would be in days.