How to Mine 1BTC From Home?
The outline of the article:
- New mining opportunities at home
- Prospects and financial opportunities of amateur mining
For the next 80 days, Bitcoin mining will be carried out as usual. But the upcoming Bitcoin halving (split of Bitcoin in half) will entail some changes, including an increase in mining resource intensity by about 2 times. Hurry up if you want to get Bitcoins and a good reward before halving.
New mining options at home
Mining one whole Bitcoin is a complex and sometimes unpredictable process. To create a new block, it is necessary not only to solve complex calculations but also to catch the luck. A whole range of factors affects the mining process and the achievement of the desired result. This includes both the competent setting of the hashrate, the cost of electricity, as well as the activity of other miners, the power of their computing equipment.
The mining pool became a natural process in 2020. Of course, in the long term, mining alone is more profitable than the expected reward. But let’s not forget about the growing competition in the market. Combining individual capacities in the mining pool significantly increases the chance of success and provides for the division of remuneration for the creation of the block.
“Nowadays, Mining 1BTC at home will cost you the same as buying 1 Bitcoin for the market price”
Recently, the community of miners stirred up the news that 1 Bitcoin per year can be mined using household electrical equipment. A special study was conducted on the ASIC, Antminer S17, and the results hasconfirmed such possibility. Please note: the production of 1 Bitcoin at home costs equal to 1 BTC at the current market rate. The good news is that Antminer S17 has cut the price of new ASIC models by almost half. If earlier the cost of ASIC was $ 4000 and higher, now you can buy a new model for $ 2000.Until Bitcoin is halved, mining farms can make good profits at an energy cost of 5 cents per kilowatt. But after halving, costs will increase, and ining an entire coin will cost about 1 BTC.
Prospects and financial opportunities of amateur mining
The fluctuation of Bitcoin prices in the direction of decline can lead to significant losses. In such conditions, it is important to take into account different breakeven models when conducting home mining. If the BTC price rises to $ 50,000, mining will remain profitable. Thus, mining 1 BTC at home is equivalent to buying 1 Bitcoin. But do not forget that BTC obtained as a result of mining has a “clean” history.
The upcoming BTC halving has led to a significant increase in mining activityn. Now, there is strong competition among the main mining players of the cryptocurrency market. About 60% of the rewards for creating new blocks are concentrated in the hands of the “mining pool sharks”, which are Poolin, F2Pool, Antpool, and BTC.com. These mining pools are located in China. Their advantages include a relatively low charge for electricity consumed.
In 2019, the situation with Bitcoin mining was also unstable and had some difficulties. The result was a complication of the Bitcoin mining process itself, its appreciation. But thanks to the new ASIC models Antminer S17 has become much easier to get Bitcoin at home.
This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose.