For ordinary people, the cheapest way to own Bitcoin is mining. I believe many people are curious, how long does it take to mine $100,000 worth of Bitcoin?

If you buy a mining rig, it means you are buying Bitcoin every minute, every hour of the day, no matter what is going on in your life. If you exchange bitcoins for dollars, you can also imagine the process of mining bitcoins as mining dollars.

How long does it take to mine $100,000 of bitcoin?

How long it takes to mine $10,000 of bitcoin depends on the size of the hash rate. The higher the hash rate, the less time it takes to mine $100,000 of Bitcoin.

Let's take the most popular bitcoin mining machine at present - Antminer S19 pro 110T as an example. The computing power of this mining machine is about 110TH/s, the power consumption is 3.5Kw/h, and it can mine 0.00040370 BTC per day. Based on the current bitcoin price, an Antminer S19 pro 110T can mine $7.1.

Based on the above information, we assume that the price of Bitcoin will remain constant for a long time, and it will take about 14085 days to mine $100,000 of Bitcoin. Of course, if we have a lot of Antminer S19 pro 110T, such as 500 Antminer S19 pro 110T, it only takes 28 days. Of course, we know that the ant mining machine S19 Pro is expensive. Even if you want to mine $100,000 in bitcoin in the short term, you don’t have that much money to buy so many mining machines.

However, LLGO has launched the installment payment service for mining machines. Miners can buy mining machines at a very low price to mine bitcoins, and then use the income from mining bitcoins to pay in installments to own more mines at the lowest cost. The machines mine more dollars in the short term. This is a very friendly way to mine dollars.

How to mine dollars through the Bitcoin blockchain?

It is worth noting that the speed at which bitcoins are mined to earn dollars is closely related to the price of bitcoins. For investors, if they want to dig bitcoins to mine dollars, they need to have the consciousness of long-term investment, because the price of bitcoins is extremely volatile. Only investors who persevere when the price of bitcoin is low will be able to sell bitcoin when the price of bitcoin is higher and thus obtain large sums of dollars.

If you want to mine dollars through the Bitcoin blockchain, you need to have your own cryptocurrency exchange account and sell bitcoins through the cryptocurrency exchange to get dollars.

Frequently Asked Questions:

Q1:Can I make money mining bitcoins?

A1:You can certainly make money mining bitcoins. But please remember that mining Bitcoin is a process that requires long-term persistence, and we never earn money at the moment. For investors, keep in mind: hoard Bitcoin when the price of Bitcoin is low, and sell Bitcoin when the price of Bitcoin is high. This is a test of a person's risk tolerance and psychological quality. Therefore, when investing in Bitcoin mining, you must make a decision based on your own risk tolerance.

Q2:How do miners get paid?

A2:Miners check each block and, once confirmed, add it to the blockchain. To help keep the network secure, miners are rewarded with bitcoins when they add blocks. Rewards are paid using transaction fees and by creating new bitcoins.

Q3:Do miners make big money?

A3:For miners with excellent investment awareness, mining can make a lot of money, but for investors with insufficient financial strength and weak anti-risk ability, they can make money by mining Bitcoin, but they may not necessarily be able to mine Bitcoin. get rich.

Q4:Can I make money mining bitcoins?

A4:Of course, you can make money by mining bitcoins, but you need to consider your own risk resistance and invest in bitcoin mining within your tolerance. From 2020 to 2021, quite a few people will earn a lot of income through Bitcoin mining.

Q5:What is the cheapest cryptocurrency miner?

A5:For a miner, it doesn't matter which cryptocurrency mining rig is the cheapest, because the cheapest mining rigs are often the ones that lose money. If your own funds are not enough to purchase a cryptocurrency mining machine with leading technology at this stage, you can consider purchasing a small amount of mining packages through mining platforms such as LLGO. You can participate in mining even if you don't buy a cryptocurrency mining machine.