How to mine Bitcoin in 2020
1 min read

How to mine Bitcoin in 2020

When Bitcoin mining was first started in 2009, miners were able to use general purpose CPU like the one in your laptop to mine Bitcoin. Single block payout was 50 bitcoins, so with a decent computer or two you could easily mine 50 Bitcoins a day. Of course Bitcoin was worth merely few cents at the time so you could earn approximately 5USD a day. Or if you had the patience to keep your Bitcoins, you would have approximately 500,000 USD today for 50 Bitcoins mined in a day.

Bitcoin mining in 2020, however, is a very different problem to solve. Bitcoin mining difficulty has increased so much so that you need specialised hardware and much longer to find a block. As a result, the price of electricity has became a defining factor in miners profitability.

We have been trying to workout which hardware (GPU rigs, ASIC miners etc) can be profitable in 2020. Since we are not in a business of selling, we can be completely honest and say, well if you live in a country where electricity cost is around or over 10 US cents KWh you will be in a loss. Even below 10 US cents KWh will take few years to recover the cost of the mining hardware and until then mining difficulty will further increase making it even harder to mine with the same hardware.

There are however many mining pools which you can try. You might be able to earn few cents a day using your laptop or any other computer's free resources. You can leave the mining pool software run in the background while you use your computer.

At this stage we are not able to find a good mining pool for Bitcoin which can give you consistent earnings, so we are leaving it there. This page will be updated if something changes before the end of 2020.