Mining thousands of BTC with a simple laptop? That used to be the reality we lived in and that reality gave birth to many a crypto millionaire. Today, though, that’s a dream that’s still hard to achieve and Bitcoin mining turning into a whole industry didn’t make the task any easier. Still, so many new people are looking into mining in hopes of discovering a method that could combine the profitability of the old days with low effort and without a large initial investment.
There are several prominent ways to mine Bitcoin and in this guide, we will look at them, determine which are easier and more accessible to beginners, and find out their pros and cons.
Understanding Bitcoin Mining
Despite crypto mining having a complicated technical definition, there is a simpler way to explain what the process is and why it’s needed. What we call crypto mining is receiving a reward in cryptocurrency for performing calculations using the computational power of your device. The device in question could be more or less powerful. When we’re talking about Bitcoin mining, the goal for the users is to verify and add transactions to the blockchain. In other words, they compete to find the correct hash, and the winner gets Bitcoins. Naturally, the most efficient technology allows users to achieve the result faster. However, competing with other PC users back in the day was very different from trying to outpace big mining operations today.
Traditional Bitcoin Mining Methods
From a user’s perspective, traditional mining methods are those they can take on on their own. That means the equipment and all the costs will remain on them. In return, the user keeps 100% of their Bitcoin reward.
ASIC Mining
ASIC (Application-Specific Integrated Circuit) miners are the most powerful and efficient way to mine Bitcoin. These devices are designed specifically for mining and offer high hash rates.
Pros:
- Highly efficient and profitable
- Purpose-built for Bitcoin mining
- Can be used in a large-scale Bitcoin mining farm
Cons:
- Expensive to buy and operate
- High electricity consumption
- Short lifespan due to rapid technological advancements
GPU Mining
GPU (Graphics Processing Unit) mining was once a popular choice before ASICs took over Bitcoin mining. However, GPUs are still widely used for mining other cryptocurrencies.
Pros:
- More flexible; can mine multiple cryptocurrencies
- Cheaper than ASICs
- Easier to resell or repurpose
Cons:
- Lower efficiency for Bitcoin mining
- Higher energy consumption per hash
- Requires a powerful cooling system
CPU Mining
CPU mining was viable in the early days of Bitcoin but is now obsolete due to its low efficiency. However, some lesser-known cryptocurrencies can still be mined with CPUs.
Pros:
- Low initial investment
- Suitable for testing mining concepts
Cons:
- Extremely low profitability
- Not viable for Bitcoin mining
Alternative Crypto Mining Methods
There are mining methods that don’t require quite as much investment, both in terms of time and finances, from a user. Since mining has become more expensive, and big companies have entered the market, they have started offering Bitcoin mining as a service.
Cloud Mining
Cloud mining lets you rent computing power from large mining operations without owning hardware. Services from crypto mining sites provide contracts where you pay a fee and receive mining rewards.
Pros:
- No need to purchase expensive hardware
- No electricity or maintenance costs
- Easy to get started
Cons:
- High risk of scams
- Lower profitability due to service fees
- No control over hardware or operations
Digital Mining
Digital mining involves tokenized mining solutions, such as digital miners. A digital miner is a virtual device that represents ownership of mining power within an ecosystem. Usually, digital miners are connected to physical mining data centers from quality hashpower providers.
GoMining is an example of this model, offering digital miners for solo mining and experiences like Miner Wars — play & earn game. The app contains a whole ecosystem. Among its features you can find not just mining, but a native cryptocurrency – GOMINING token — with a viable tokenomics model, a simple yet rewarding referral program, and even a crypto launchpad for Bitcoin-related startups.
Pros:
- Lower entry costs
- Ownership of hash power with real earnings
- No hardware maintenance required
Cons:
- Depends on the legitimacy of the platform
- Earnings vary based on network participation
Bitcoin Mining on Different Devices
Thanks to both traditional and alternative solutions, Bitcoin mining isn’t a device-specific activity. You can find the most convenient mining methods for yourself.
How to Mine Bitcoin on PC
Depending on your mining setup, you will require different tools to mine Bitcoin on a PC. For instance, for traditional ASIC or GPU mining, you'll need mining software like CGMiner or BFGMiner. If you google “how to solo mine Bitcoin,” you might find other suggestions as well. If you don’t want to mine solo, you may join a mining pool to increase your chances of earning rewards.Meanwhile, for digital mining, you would need a desktop app that opens access to the platform distributing digital miners. The GoMining Bitcoin mining app works on Windows and MacOS via any browser. Through the app, you can manage your farm and control your miners.Many users compare digital mining vs cloud mining and find the latter option lacking in terms of control over the user’s operation and activities.
How to Mine Bitcoin on Mobile
Before answering the question of how to mine Bitcoin on phone, you have to decide whether you are looking for a mining application that uses the phone’s own computational power or utilizes one of the alternative methods.
Choosing a Bitcoin mining app or any other crypto mining app that allows users to mine Bitcoin on a smartphone isn’t impossible. However, you have to be careful and read the reviews. Consider that most of these apps offer simulated mining rewards rather than real Bitcoin due to the processing limitations of mobile devices. The payouts are often small as well.If you choose digital mining or cloud mining, you likely will have access to a mobile app that lets you review your personal account. GoMining app allows you the full functionality of the platform through its app.
Economic Considerations of the Crypto Mining
We all approach mining with different resources and goals in mind. Newbies have to be sure that mining doesn’t impact their finances negatively. There are several questions that need answering:
How Much Does It Cost to Mine 1 Bitcoin?
The cost of mining 1 Bitcoin varies based on location, electricity rates, and mining hardware. In countries with cheap electricity, the cost may be around $10,000–$15,000, while in high-cost areas, it can exceed $30,000.
How Hard Is It to Mine Bitcoin?
Mining difficulty adjusts based on the number of miners competing in the network. As more miners join, mining Bitcoin becomes harder, requiring more computational power.
How Long Does It Take to Mine One Bitcoin?
This depends on the hardware and mining setup. With a powerful Bitcoin mining rig, it can take about 10 minutes to mine a single Bitcoin block, but solo miners have very slim chances of doing this. Most people mine fractions of a Bitcoin over weeks or months.
How Much Time Does It Take to Mine 1 Bitcoin on a Laptop?
Mining Bitcoin on a laptop is impractical. It would take thousands of years to mine 1 BTC due to the low computational power of a standard laptop.
What Happens When All Bitcoins Are Mined?
Bitcoin has a fixed supply of 21 million coins. Once all are mined (around the year 2140), miners will rely solely on transaction fees to earn revenue instead of block rewards.
Best Strategies for Mining Bitcoin
While every user will inevitably follow their own strategy, we have some recommendations for those starting out in Bitcoin mining.
- Use a Mining Profit Calculator. A crypto mining calculator helps estimate your potential earnings by factoring in electricity costs, hardware efficiency, and mining difficulty.
- Choose the Best Crypto to Mine. While Bitcoin is the most well-known, some miners prefer alternative coins that are the most profitable crypto to mine at any given time.
- Set Up a Bitcoin Mining Farm. A Bitcoin farm consists of multiple miners (usually ASICs). The more you have – the higher computational power you possess. That is the deciding factor in successful mining.
- Consider a Bitcoin Miner App. For those who prefer a mobile experience, a Bitcoin miner app can offer cloud-based solutions or gaming elements that provide small but steady rewards.
Conclusion: Is Bitcoin Mining Profitable?
Whenever we hear the question “Is Bitcoin mining profitable?” we make sure to clarify – the answer depends on your method. ASIC mining can be profitable with low electricity costs, while Bitcoin mining on phone or laptops is largely impractical. Mining games and digital miners offer alternative ways to earn Bitcoin without the hassle of managing hardware. With careful planning and using the right crypto mining sites, Bitcoin mining can be a rewarding venture. GoMining allows additional discounts and special features like GoMiners and the VIP program to maximize your rewards.
Now that you know how to mine Bitcoin, the next step is deciding which method works best for you. Whether you opt for an ASIC-powered Bitcoin mining farm, a Bitcoin mining website, or a gamified approach like Miner Wars, always do your research before investing in mining solutions.
May 7, 2025
