It's possible, though it's either pretty boring or requires some skill.
There are a few 'easier' ways to do it:
1. Skull Cavern diving, requires obviously being quite good at running skull cavern and some immediate mining to actually afford it ASAP, it scales super fast immediately but it can be harder to maintain that going forward if you have strings of bad luck days you don't want to continuously reset, usually a upper limit I see people in intro-decent minmax get is like 500k but you could totally push that, it's just more effort and time to practice
2. Geode farming, only really 'good' if you're seeding it, but seeding it and perfectly optimized animation cancelling and pause buffering can net you a million in a single day, probably less than 5% of that if you're not doing it optimally though, it's super super brutal optimal, but not horrendous otherwise
3. Radioactive ore, pretty time crunchy and probably something you want to do seeded rather than having to reset whole 20-day save files for, but it's totally possible to have a week+ to farm, even the whole second week double stacked danger mines to farm if you're early enough, though that's definitely in the realm of seeded (back to back quests) if you want to be realistic with your irl time
4. Just plain diamond farming. This one is probably a mix of having to be very good at pause buffering and having no care to waste basically a hundred hours of your life, probably the worst option overall honestly, but it's possible? I've been able to pull like 30k a day diamond farming and upwards of that on good days, so it's up to you how much you want to reset