For another 80 days, mining one Bitcoin will be relatively easy. After the halving, it will be roughly twice as resource-intensive to generate one new coin. Better start moving fast!
ANTMINER S17 RAISES CHANCES OF MINING SUCCESS
Generating one whole bitcoin per year through mining is not guaranteed, and cannot fit an exact estimation. The solving of a block is not only a matter of mathematics, but also of luck. This means that setting up sufficient hashrate to mine one BTC may not be enough. Scenarios must include market prices, electricity costs, and competition from other miners.
The usual approach in 2020 is to secure participation into a mining pool. Solo mining, while potentially more profitable, can be a betting game where the hashrate competes against bigger pools. However, joining a pool may increase the chances of sharing a block reward.
A case study recently performed on the latest ASIC, Antminer S17, shows that mining one bitcoin per year is possible with consumer electronics. There is, however, one caveat. Setup and electricity costs mean that mining one bitcoin at home in 2020 will also cost about one BTC at current prices. An Antminer S17 retails for about $2,000, a relatively lower price in comparison to previous models that went as high as $4,000 or more during times of heightened demand. Two of those machines can easily mine 1 BTC within a year, at current difficulty. Read More...