What does it take to mine 1 Bitcoin?


What does it take to mine 1 Bitcoin?

Posted on Jul 19, 2013 by Paul White

When you are considering upgrading your computer's hardware in an attempt to mine for Bitcoin, one the firs tthings you want to know is how much processing power does it take to mine a single Bitcoin, and how long will it take?  I have worked the numbers based on the current difficultly level.

Amount to MineHow FastHashing PowerVia GPUVia USB ASICAnnual BTC
1 BTC370 Days138 Mhps
( My current Pathetic Setup)
GTX 560 Ti-< 1 BTC
1 BTC90 Days572.83 Mhps
(Where I will be in a week)
HD 79502x4 BTC
1 BTC30 Days1.718 Ghps3 x HD 79505x12 BTC
1 BTC14 Days3.682 Ghps3 x HD 799011x 26 BTC
1 BTC1 Day51.555 Ghps43 x HD 7990154x365 BTC
1 BTC12 Hours103.11 Ghps86 x HD 7990310x730 BTC
1 BTC1 Hour1.237 Thps1031 x HD 79903715x8760 BTC

The previous values were based on the Difficulty Level Today.

You can see my current setup.  The GTX 560 Ti makes a pretty lousy Miner.  Just purchased a used 7950 off ebay, which should help me generate a few coins.  I will only be running my system during the day when I work, so After a year I might have earned 2 BTC.  I might add some a second 7950 or upgrade to the 7970 depending on where prices go.  The 7990 would be nice but its just priced a little too high for my tastes.  $500 for a used Video Card is a bit much.

However next year or this fall, when I build a new workstation I am going water cooled all the way, so I should be able to push my system pretty hard assuming bitcoin mining is still profitable at the future difficulty level.

Conclusion

So if you were thinking of getting rich mining for bitcoin, now you know how much power its going to take.  
Permalink
6293 Visitors
12251 Views

Categories associated with What does it take to mine 1 Bitcoin?

Discussion

holimondir | Nov 26, 2013 4:46 PM
Nice Table Thank You.
2013-07-19 the difficulty was 26M.
2013-11-26 the diffculty is 609M. That's times 26! Wow.
Source: http://mining.thegenesisblock.com/
Roger | Aug 22, 2014 10:05 AM

Hi, I'm new to bitcoin mining, and I'm a little confused on all the technoligy lingo, what would I need to buy or build to make a bitcoin per hour or one per day? or how many GHS vouchers would I need to buy? to mine on cex.io with no equitment of my own..

thanks for your time.

Roger

Paul | Aug 22, 2014 11:07 AM

Roger,

You are little late to the bitcoin game.  The difficulty to mine a single bitcoin has gotten to the point where its no longer profitable.  Even buying GHS contracts from a cloud is a loosing proposition.  The value of bitcoin hasn't moved in over a year, yet the amount of hardware required to mine a single bitcoin has gone up 1000x.  I recommend you just stay away from it.  You will never break even.  I got out soon after a I started, because I saw where it was going.   Luckily My over sized graphics card still helps with Video Encoding with Sony Vegas.

name
Email Needed to confirm comment, but not made public.
Website
 
Type Code
Security Check
 
When you Post your Comment, you'll be sent a confirmation link. Once you click this link your thoughts will be made public.. Posts that are considered spam will be deleted, Please keep your thoughts and links relavent to this Article