How Long Does It Take to Mine a Bitcoin?

How Long Would It Take to Mine 1 Bitcoin?

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Short Answer: 10 Minutes

If we look at this question from the standpoint of how long it takes to mine bitcoin, the answer is 10 minutes … but that’s how long it currently takes to mine 6.25 bitcoins.

Long Answer … Well …

But back to the question … when the miner’s reward was 50 BTC per block, that didn’t mean one BTC was being created faster. It meant that MORE were being mined in the same 10 minutes as now. So, one has always taken 10 minutes, and yet you can’t mine just one until the reward is halved enough times that 1 BTC is the whole reward.

Longer Answer … What’s Under the Hood?

Even though it takes 10 minutes to mine a single block on the blockchain, mining computers aren’t cranking out 6 blocks per hour, 24 hours a day. Each individual computer, depending on its processing power, might take several weeks before confirming a block. And it costs an arm and a leg in electricity costs to run that kind of process. So, the longer answer is that it depends on your mining rig.

Another Mining Option

If you want to just mine a little bit, there are actually services where you can purchase a slice of mining power, as part of a mining pool, and you get rewarded a little bit each week. Each reward is split up among everybody in the pool, regardless of which miner (computer) actually hit the block win.

Another Way to Own Bitcoin

If all of this makes your head spin, don’t worry … you don’t HAVE to mine bitcoin to own it. Whether the cost of mining is worth it or not would depend on your specific situation.

What is Coin Cloud?

Coin Cloud is a digital currency machine company headquartered in Las Vegas, Nevada. With over 1,400 locations nationwide, Coin Cloud is the world’s largest and fastest-growing network of two-way digital currency kiosks, commonly known as Bitcoin ATMs or BTMs, and the majority of all two-way machines in the U.S. Since 2014, CoinCloud has helped hundreds of thousands of customers buy and sell cryptocurrency and other virtual currency quickly and easily. You can find your nearest Coin Cloud BTM here.

The world’s leading operator of two-way Digital Currency Machines (DCMs), more advanced Bitcoin ATMs.

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