You can only go so far with good hardware. Even if you were operating a number of powerful ASICs, you would still only be a drop in the Bitcoin mining ocean. Despite the high cost of your hardware and the electricity needed to run it, the likelihood that you will actually mine a block is quite low.
There is no guarantee as to when or even whether you will get payment as part of a block reward. If steady income is what you're looking, joining a mining pool will greatly increase your chances.
Assume you, nine other users, and the network as a whole each control 0.1% of the hashing power. Accordingly, you should anticipate finding one in every 1,000 blocks on average. You would most likely find one block per week with an estimated 144 blocks being mined each day. This "solo mining" approach could be a workable tactic, depending on your cash flow, investment in technology, and use of electricity.
Assume that 0.1% of the hashing power is divided among you, nine other users, and the entire network. As a result, you should expect to locate one on average every 1,000 blocks. With an estimated 144 blocks being mined each day, you would most likely find one block per week. Depending on your cash flow, technology investment, and electricity use, this "solo mining" strategy can be a viable option.
We have just provided a brief overview of a mining pool. They are frequently utilized today since they ensure that members will receive a more consistent flow of income.
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