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How to Mine Bitcoin [Beginner’s Guide]
A guide to help you decide if you should start mining Bitcoin and what to do in order to get started.
Published on Dec 15, 2020
Table of Contents
Is Bitcoin Mining Worth It?
Bitcoin Mining Profitability in 2021
Required Environment to Mine BTC
Choosing an ASIC Miner
Miner Specifications
Bitcoin ASIC Manufacturers
Mining Pool Selection
Mining Software
Bitcoin Mining Profitability Calculator
Mining Bitcoin and other cryptocurrencies is not a simple task.
Competition in the mining industry is fierce and many variables need to be considered when selecting mining rigs and setting up your facility.
This guide is for anyone who is completely new to mining. If you’re looking to mine at home to make some money or just as a hobby, we’ll tell you everything you need to know so you can start mining Bitcoin as soon as possible.
Is Bitcoin Mining Worth It?
Profit is the biggest motivation to get into mining. Simply put, if your cost to mine 1 BTC is lower than the current BTC price, then mining allows you to accumulate BTC MINER PRO Paid Apk at a discount. In other words, if the current Bitcoin price is $20,000 and you can mine 1 Bitcoin for a total cost of $15,000, then you have a 25% profit margin. This is effectively similar to purchasing Bitcoin at 25% below the market price.
And certainly, there is money to be made in this industry. At the time of writing this article, the daily revenue earned by miners is over $18.8 million, totaling up to about $6.87 billion annually. That being said, the industry is incredibly competitive, and slicing out your piece of the revenue will be difficult.
But did you know there are other benefits to mining?
For one thing, mining enables people to acquire KYC-free crypto.
Why is that important? Well, purchasing cryptocurrencies through an exchange typically requires that you reveal your identity due to Know Your Customer regulations. This leaves you susceptible to tax liabilities, confiscation of your Bitcoin if it’s stored by a custodial service, and being blocked from using other regulated services. If you mine your BTC directly, it’s not tied to your identity.
Besides that, another reason to get into cryptocurrency mining is as a hobby if you are engineering-minded or simply want to better understand this important aspect of Bitcoin. As we will get into later, there are so many variables in any mining operation that make for a fun challenge.
There is also a more noble reason to mine, even on a small scale. By mining, you’re contributing to Bitcoin’s decentralization — the core tenant that makes BTC revolutionary.
Whether you’re mining to make money, starting a new hobby, or simply contributing to Bitcoin’s decentralization, mining is not easy. Regardless of your reason, this guide will walk you through the entire process.
BTC MINER PRO Paid Apk Profitability in 2021

Don’t expect to make a business out of mining just by downloading some software. Those days are long gone.
However, that doesn’t mean you can’t make money. Rather, it means it will be very difficult to create a sustainable business unless you have a competitive edge, such as access to extremely cheap electricity or a way to cheaply acquire ASICs (the computing machines built specifically for mining).
You see, electricity price and hardware (ASIC) costs are the two most important variables in mining profitability. Procuring ASICs is a capital expenditure (CAPEX), which means that you pay the cost before you start mining and use your revenue to get a return on that investment over time. When you consider the daily profitability of mining, it’s important to factor
