You may have heard of Bitcoin mining, the process of using computer power to secure the Bitcoin network. Miners are rewarded for their service with new bitcoin. Smartphones are computers too, so is it possible to mine on a mobile phone with an app? And is it profitable to mine on android or iPhone?
➤ Learn more about Bitcoin mining.
Does Bitcoin Mining Work on a Smartphone?
Yes, it is possible to mine Bitcoin on a smartphone, whether you have an Android device or an iPhone. Since phones are essentially computers, they can be set to the task of computing hashes. A hash is a one-way transformation of data. Computing the right hash, as requested by the Bitcoin software, is the “puzzle” that miners attempt to solve.
However, in practical terms, smartphones are not the best tool for Bitcoin mining. It’s akin to trying to hammer a nail with a screwdriver. While theoretically possible, in practice, it is highly inefficient and impractical.
Mining bitcoin on a smartphone can significantly impact its battery life and energy consumption. Continuous mining can degrade battery health, and shorten the device’s lifespan, making it economically unviable.
Modern smartphones are powerful—more so than the computers that first sent humans to the moon. Yet, when it comes to Bitcoin mining, there are far more advanced and specialized computers for the job.
Competing Against ASICs
In Bitcoin’s early days, it was possible to mine from a personal computer or laptop. Though Bitcoin’s value was low, you could still occasionally be the first to create a valid block and earn the reward. Over time, competition increased, and miners sought better ways to stay ahead, such as joining mining pools and upgrading their equipment.
In 2013, ASICs (Application-Specific Integrated Circuits) were introduced to Bitcoin mining. These specialized computers are designed solely for the purpose of calculating as many hashes as possible with optimal energy efficiency. There are also ASICs built for other tasks, like digital voice recorders, that are designed to excel in those specific areas.
Profitability in mining depends on minimizing costs. Efficient tools and low energy expenses are crucial. Personal computers and laptops have become obsolete for mining due to their inefficiency, and the same applies to smartphones.
While mining Bitcoin directly on your smartphone hardware is not profitable, you can still use your phone to set up and monitor a Bitcoin mining operation.
Key Takeaways
- It is possible but not profitable to use a phone as a mining device, as they are not the best tool for the job.
- Meaningful competition against specialized mining computers called ASICs is not feasible, due to their high energy efficiency and calculation speed.
- Block rewards are critical to incentivizing miners in the early years, but as the block reward shrinks in size, miners will need to draw revenue from transaction fees.
- You can use a smartphone to remotely monitor mining machines.
