What is Bitcoin Mining and How Does it Work?

Nowadays, Bitcoins are mined by special hardware designated just for mining Bitcoins. It is called ASIC (Application-Specific Integrated Circuit chips), uses less energy and mines Bitcoins much faster. This device is expensive and its manufacturing is time-consuming, however, its speed is astonishing. The most powerful machines manage to solve as many as 14 terahashes per second (which means it does 1012 attempts to solve a block per second) and its development goes ahead constantly

Bitcoin mining demands not only a lot of electric power but also a special place for a machine as mining rigs are noisy and emit a lot of heat. The service miner housing provides a solution to this problem – you can place your machine into a professional data center and get rid of all these concerns. You will profit from a lower price of energy, cooled area, constant monitoring and you won´t be bothered by any noise.

The people who voluntarily offer their computing power to secure these networks are called MINERS. Before you buy an ASIC miner, try to calculate the profitability of the chosen device in an online calculator. You will find out whether mining can be profitable or how much money you have to invest in the beginning.

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