Bitcoin mining is the process of using computer hardware to secure the Bitcoin network and earn Bitcoin rewards. Think of it like being a digital accountant who verifies transactions and gets paid in Bitcoin.
Imagine Bitcoin as a giant public ledger (called the blockchain) that records every transaction. Miners use powerful computers to:
Don't worry - you don't need to understand the complex math. But here's what's happening behind the scenes:
Every 10 minutes, a new mathematical puzzle is created that needs to be solved
Thousands of miners worldwide use their computers to guess the answer (trillions of guesses per second)
The winning miner gets to add the next block to the blockchain and receives the reward
A new puzzle starts immediately, happening roughly every 10 minutes, 24/7
You cannot mine Bitcoin with a regular computer anymore. You need specialized hardware called ASICs (Application-Specific Integrated Circuits).
Perfect for hobbyists and learning
1.2 TH/s • ~15W • $200
Quiet, energy-efficient, great for beginners
6 TH/s • ~60W • $300
5x more power, still quiet enough for home
Serious mining operations
200 TH/s • 3500W • $3,000
Modern, efficient, loud and hot
172 TH/s • 3344W • $2,500
Popular choice for farms
This is the biggest decision you'll make as a miner. Let's break down both options:
Join forces with other miners
Thousands of miners combine their power. When anyone in the pool finds a block, the reward is split among everyone based on their contribution.
Mine alone, keep 100% if you win
You mine by yourself. If you find a block, you keep the entire 3.125 BTC reward (~$300k). If you don't, you earn nothing.
We run special solo pools that give you better odds while keeping the solo mining spirit:
The honest answer: It depends on your situation. Here's the reality:
A typical home setup (Bitaxe, normal electricity rates) will cost more in electricity than you'll earn in Bitcoin. Here's an example:
Solo mining: Might find block in 1,000 years... or never
Solar panels, included utilities, or very low rates (under $0.05/kWh)
Multiple high-end ASICs in optimal conditions
You hit the lottery and find a block ($300k+ payout)
What you mine today could be worth 10x more in years
Ready to start mining? Here's your step-by-step roadmap:
Mining is not easy money. Without cheap electricity and scale, you're unlikely to profit.
Most cloud mining sites are scams. If it sounds too good to be true, it is.
Your power bill matters! Calculate costs before buying expensive hardware.
Solo mining with a Bitaxe is fun, but your odds are 1 in thousands of years. Don't expect to win.
Pool fees range from 0.5%-4%. Higher fees eat into profits - choose wisely!