How long does it actually take to mine 1 Bitcoin? A guide to mining times and requirements

Why is solo mining of Bitcoin almost impossible?

Mining Bitcoin is a process where miners use powerful computers to verify transactions and release new coins into the network. However, current conditions make attempting to solo mine the entire reward comparable to searching for a needle in a haystack. The Bitcoin proof-of-work (PoW) consensus protocol naturally forces miners to compete against each other. The chances that one miner would beat thousands of others worldwide and find the target hash are practically zero — regardless of their hardware resources.

That’s why most miners join mining pools. In these collective structures, miners combine their computational power (hashrate) and receive rewards proportional to their contribution. The pool operator distributes the rewards, often taking a small fee for the service.

How long does it exactly take to confirm one block?

Mining a new Bitcoin block takes an average of 10 minutes. However, this does not mean that one miner earns a reward every 10 minutes — quite the opposite. The entire Bitcoin network works to find the target hash, and the winner receives the reward.

Each confirmed block releases 3.125 BTC into the network. Before the April 2024 halving event, the reward was 6.25 BTC per block. This halving is scheduled every 210,000 blocks (approximately every four years) and is embedded in Bitcoin’s code by Satoshi Nakamoto. The goal is to create a digital scarcity and maintain the value of the currency.

The actual time to mine 1 Bitcoin depends on many factors

The question “how long does it take to mine 1 Bitcoin” has no simple answer. Here’s why:

Hardware hashrate: Miners with advanced equipment (specialized ASIC devices) can scan many more potential hashes than those with laptops. This difference is like comparing a reconnaissance drone to manual searching — much more efficient and faster.

Network difficulty: The Bitcoin network adjusts the difficulty level every 2016 blocks. The more miners join the network, the higher the difficulty — and vice versa. At the time this article was written, about 19.5 million Bitcoins were in circulation out of the planned maximum of 21 million. The remaining 1.5 million will enter circulation gradually until the year 2140.

Type of mining pool: A miner in a proportional pool (which divides rewards based on hashrate contribution) earns differently than in a “pay-per-share” pool (which offers a fixed income at set rates).

What hardware determines mining speed?

Hardware is a critical factor. Bitcoin uses the SHA-256 algorithm, which is computationally demanding. There are three main categories:

CPU (Processors): The standard method, but the slowest. Working with CPUs is comparable to manually searching each row in a stadium for a specific spot.

GPU (Graphics cards): Much faster than CPUs because they can perform many operations in parallel. It’s like using a drone that scans several sections of the stadium simultaneously.

ASIC (Application-specific integrated circuits): The most efficient devices, designed solely for Bitcoin mining. They offer dramatically higher processing speeds and energy efficiency. It’s like having an advanced AI-controlled drone that completes the task faster than any other method.

Reward structure and mining pools

There are several models of pools on the market:

Proportional pools: Rewards based on the miner’s percentage of the pool’s total computational power. If you contribute 5% of the pool’s hashrate, you earn 5% of the reward plus transaction fees.

“Pay-Per-Last-N-Shares” pools: Miners work in shifts and get paid based on their active time. Longer shifts = larger share of the reward, similar to pirates working on uneven watches.

Pay-Per-Share pools: Offer a steady income for miners — predictable revenue without fluctuations. The cost — miners give up the chance to earn from transaction fees.

Alternatives to traditional mining

For those without capital for expensive ASIC hardware, there is cloud mining — renting hashing power in the cloud. Users pay operators for access to shared resources and receive a portion of block rewards. However, this model shifts energy costs onto paying users.

Summary: The realistic picture of mining time

Mining 1 Bitcoin is not a fixed-time operation — it’s a stochastic process. In practice, an average pool miner who invests in modern ASIC hardware and joins a reputable mining pool can expect much faster returns than someone mining solo. Pool members share rewards regularly based on their hashrate, making Bitcoin mining more predictable and accessible for ordinary network participants.