On average, 900 new bitcoins are issued per day. To estimate how often an individual miner will solve a new block and claim its reward, the Bitcoin network’s total hashrate can be compared to an individual miner’s hash rate.

New bitcoins per day

On a daily basis, an average of 144 blocks are added to the Bitcoin blockchain. Only 6.25 BTC are made per day after the network’s last halving event in May 2020.

144 blocks per day * 6.25 BTC per block = 900 BTC issued daily

Winning a block reward

An individual miner’s likelihood of winning a block reward is the total network hashrate divided by the individual's hashrate. The result is the number of blocks that will be mined on average before the individual miner solves a block.

Read: How do miners make money?

For example, if the Bitcoin network has a current hashrate of 150 exahashes per second (EH/s) and an individual miner’s capacity is 1 EH/s, the miner controls 1/150th of the total hashing capacity. This amount of hash power implies that the miner will on average solve one block after 150 others have been solved.

150 EH/s total / 1 EH/s individual = (1/150 share of hashrate)

In short, the more hashing power an individual miner controls, the better odds they have of solving each block and claiming its reward.

Was this article helpful? If you still have questions, join the Compass Mining community to chat with our team and other mines. Or email [email protected] with feedback or for more information.