Freshly minted BTC mining occurs nearly every 10 minutes. You get rewarded with a block of bitcoin for the hashing power you donated to the network. You achieve this by proffering solution to the difficulty of the block. At present, the block reward is 12.5 BTC. Therefore, 10 minutes is a normal timeframe for miners to mine one block. If you want to earn any of those freshly minted coins, you must be aware of the percentage of the total computational power of the system.
When the amount of time it takes to mine a block of Bitcoin alone is considered aside from the potent ASIC chips, it isn’t feasible for an individual to run the hardware for decades without ever mining just one block. Besides, it is not feasible when you consider the cost of electricity. GPU mining has been extremely costly to engage in for some years. It is only doable for individuals who have a big farm with lots of mining rigs.
If you intend to mine efficiently, you need to sign up with your desirable mining pool. All you have to do is split the reward for solving a complicated mathematical problem with the rest members of the pool. For a mining pool, you need to contribute roughly 4 percent of the collective hashing power of mining a block, to be able to earn one bitcoin.
Nevertheless, there is no precise timeframe for mining one Bitcoin in a pool. It depends on the pool of your choice and the equipment you use for mining. You either require a GPU (graphics processing unit) or an application-specific integrated circuit (ASIC) to be able to configure a mining rig.
