What is Bitcoin Mining and How Does it Work?


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Bitcoin Mining Hardware ASICs

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.


Check Profitability

You can use our calculator below to check the mining hardware (ASICs) available. *Profit is based on current bitcoin price*

Input your expected investment price of the miner for an estimate.

0Profit / day 0Mined per day 0BTC Mined per day
0Profit / month 0Mined per month 0BTC Mined per month
0Profit / year 0Mined per year 0BTC Mined per year

We are making mining accessible to everyone.

We are uniting all key aspects of running an efficient cryptocurrency mining operation.

From building highly efficient data centers to providing a streamlined mining system for our users.

Profitability Factors

The Bitcoin price and the total network hash rate are the two main factors that will affect your profitability.

Our calculator is more accurate than most others because ours assumes the 0.4527678% daily increase in network hash rate.

This has been the average daily increase over the past 6 months.

Most other calculators do NOT include this metric which makes mining appear way more profitable than it actually is.

The Bitcoin Price

Bitcoin mining is a booming industry, but the Bitcoin price increasing can help make up some of these losses.

The Bitcoin price is increasing at an average of 1.039% per day over the past year.

Try messing with the calculator using different prices.

Hardware Profitability

You can use a bitcoin mining profitability calculator to determine your estimated cost of return on your mining hardware.

Thousands of ASICs all mine simultaneously in a mining farm (large warehouse).

Evidently, most people can’t afford just one or two of ASICs, not to mention thousands of them.

When ASICs hit the market, the blockchain’s validation process became more centralized as more and more hashing power was consolidated into a handful of mining companies, rather than being spread out amongst many miners.

Unfortunately, Bitcoin is no longer as decentralized as it was once intended to be.

Start mining

And now you can start mining and earning Bitcoins! choose a device, and let the mining begin!

The development goes ahead very fast and it changes on a day to day basis.

Your mining outputs will be added to your account daily and automatically.

A Glance at Byt-Miner


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