Bitcoin mining is the method through which each and every transaction is validated and added to the blockchain or the public ledger. It is also the process by which new Bitcoin tokens are released. Those having internet access and appropriate hardware can take part in the mining process. Bitcoin mining includes consolidating latest transactions into specific blocks and attempting to resolve a computationally challenging equation. The miner who solves the equation first gets to save the subsequent blocks on the blockchain and eventually claim mining rewards. In fact, these rewards that incentivize mining, continue to serve as the processing fees linked with the transactions arranged in a block as well as the freshly released BTC or Bitcoin tokens. During Bitcoin mining, the mining hardware runs a hashing function (that is, two rounds of SHA256) on a block header. For every new hash that is worked on, the Bitcoin mining software will make use of a completely different number (known as the nonce) as one random component of the block header.
Today’s Bitcoin Price
1 BTC = $7099
Interested in Bitcoin Mining?
When Bitcoin was first launched, CPU was the only hardware device which miners used to mine bitcoins. However, in today's date, CPU is not considered a good and profitable mining interface, since graphics cards and special hardware devices such as FPGAs or ASICs are faster in solving computational equations which create BTC. Nonetheless, there are a few specific mining programs such as cpuminer which run on CPUs. You will have download cpuminer and then configure it with a mining pool.
The advent of high-end graphics cards brought about a major change in the mining landscape. A few years ago, CPU mining finally gave way to efficient GPU mining. Any functional GPU may be used in Bitcoin mining, but the AMD line of GPU design is proven to be better than the Nvidia design for Bitcoin mining. The ATI Radeon HD 5870 is, by far, the most cost-effective option at the moment. If you have decided to buy the best GPU mining hardware, it is important to take into account the total consumption of power and the cost incurred. No doubt, GPU mining is better than CPU mining. However, when speaking of profits, the output is more or less negligible.
Just like the CPU to GPU shift, the world of Bitcoin mining proceeded to the Field Programmable Gate Array. With the auspicious launch of Butterfly Labs FPGA, Bitcoin mining made way for the uniquely constructed hardware which is committed to mining BTC. This was the very first FPGA device to exceed the mining power of 25 GH/s with only one device. Butterfly Labs FPGA devices became popular among Bitcoin miners once mining with graphics cards became a competitive affair. To bring about a balance between the capital investments and the electricity costs, FPGAs were created. The FPGA rigs were not only efficient with an average mining speed of 500MHz or more, but also consumed less electrical units.
The world of Bitcoin mining has wholly adopted the Application Specific Integrated Circuit (ASIC) system. The ASIC chip is specially designed to perform mining activities. An ASIC model cannot be remodelled to perform other duties. There are a lot of similarities between the FPGA and the ASIC hardware. Both run the same logic function-based operations, thereby generating considerable hashing power in a cost-effective way. However, with the advent of ASIC, FPGA started to fall back. Just like FPGAs, it was the Butterfly Labs which declared the launch of first ever ASIC hardware. The most popular ASIC mining devices in today’s date are AntMiner S7, AntMiner S9 and Avalon6.
Mine Bitcoin with Three Easy Steps
To start with, do the registration first. It will take only 2-3 minutes
Secondly, choose your purchase plan and proceed for the payment
Now, it’s time to receive your newly mined coins
When Bitcoin was first launched in 2009, mining was a successful and lucrative venture. Those who started early successfully accumulated BTC tokens through profitable mining. Slowly, the value of Bitcoin consistently went up in the next few years, resulting in an abrupt rise in the difficulty level of the mining process. Not only did it become harder to solve the mining equations, but it also became a lot more time-consuming. In order to ensure consistent profitability, investors can opt for Pool Mining or Cloud Mining.
In the last few years, an inconceivable amount of hashrate or mining power is making its presence felt online, thus making it difficult for people to have adequate hashrate to resolve a block single-handedly and earn the mining reward. As a possible solution to this hurdle, the concept of Bitcoin pool mining was introduced. Pool mining is a process wherein individuals or group miners can contribute to the process of block generation, and then split the reward as per the individual contributions.
Cloud mining (alternatively known as cloud hashing) allows online users to buy hardware mining capacity in data centres. With Bitcoin cloud mining contracts, you can earn BTC without having to deal with the issues related to mining hardware, bandwidth, electricity, or other such offline issues.
Bio-Friendly Mining : Vast acres of barren land can be best used for setting up solar panels (which run on photovoltaic cells) and wind mills to run our Green Data Centres. HashGains’ cloud mining devices makes use of green renewable power that is available at near-zero cost.
The Best Cloud Mining Data Centres : Who can build and run the most efficient, cost-effective, robust, scalable, secure, and reliable cloud mining data centres? There cannot be a better choice than HashGains which is backed by technology giants with an experience of over 15 years in running and managing data centres. HashGains has a team of 1,500 professionals, serving 10 of the top Fortune 500 Customers, and managing over 25,000 servers globally. HashGains is all set to build its Cloud Mining Data Centres with a combined capacity of 75 MW in India and China.
Be a Part of HashGains : There cannot be any better time than now to invest in cryptocurrencies which have grown 15-20 times in 2017 and is expected to perform even better. There is no better player than HashGains which provides the most secure and cost-effective cloud mining platform to invest and earn cryptocurrencies.
Ethereum Mining Profitability – Has It Become Stagnant?
Ethereum Cryptocurrency is in the market of mining now since ages. The success story of it is not hi
Read More
Swapnil Shukla September-30-2019
The Absolute Guide Over Monero Mining
Monero is the cryptocurrency of the new age. It dwells all the characteristics which one may look ou
Lucy Berry September-23-2019
Despite Reservations About Its Potential, Cryptocurrency Is Thriving!
Born in 2008, with the bitcoin being the first open-source and widely popular cryptocurrency, the fa
admin June-18-2019
UNICEF Australia Gives Users the Option of Mining Cryptocurrency as Donation
On 29th April 2018, UNICEF Australia proclaimed an initiative which allows a user to hand over his o
Mark Cuban June-05-2018
Make Sure You Dont Spend Your BTC on Pizza On Bitcoin Pizza Day
There was a time when 10,000 BTC coins would buy 2 pizzas. This was around 8 years back. Now, one
Smith May-23-2018
Bitcoin Touches the $8500 Mark: The Cryptocurrency Market Finds a Strong Foothold Once Again
In its past reports, CCN made a note that the 8,200 USD resistance level seems to be a crucial st
Thomasparkar May-21-2018
Bitcoin May Hinder The Future Popularity Of US Dollar Says St Louis Fed Chief
In a meeting with CNBC this Monday, i.e. 14th May, a top-rated policymaker of the US spoke in sup
Tony Scott May-16-2018
Sergey Brin Feels Ethereum Mining Has Helped Drive The Computing Boom
Sergey Brin, the co-founder of Google says Ethereum mining has assumed an important part in the curr
Jeremy Liew May-08-2018
The Future of Bitcoin and the Possible Implications
The Bitcoin blockchain left its mark in April with the 17 millionth Bitcoin being mined. In case you
Tony Scott May-07-2018
Bitcoin and Ethereum Market Spur Above $500 Billion
Bitcoin and Ethereum are two world-renowned cryptocurrencies that have led the crypto market and sur
Tony Scott May-05-2018
3 Things That Crypto Miners Must Know
Today, digital currencies are doing kind of things that investors and Wall Street have never seen be
Jeremy Liew May-04-2018
3 Factors That Might Rise Bitcoin Price to a New Level
After long, the world’s most popular cryptocurrency, Bitcoin seems to come back. The &lsquo
Angela May-03-2018
UNICEF Wants People to Mine Crypto for Donation
Recently, UNICEF has released a page which will help in making the donation to the Australian bra
Mark Cuban May-02-2018
How To Calculate Hashes Faster?
In the world of cryptocurrency, hashing is a process used for converting data into a specific form o
December-06-2018
How are new Bitcoins created?
New Bitcoins can be generated through a decentralized competitive process which is called cryptocurr
November-29-2018
How the Cloud Mining or Hashing Works?
July-20-2018
What is Ethereum Block?
Ethereum is an application running on network of computers that makes sure that all data known as sm
December-11-2018
What is Ethereum Server?
Ethereum is a decentralised platform that runs smart application exactly as programmed, without the
What is Ethereum Mining APP?
The biggest competitor to Bitcoin mining is Ethereum mining and you can choose from many Ethereum mi
Pay per system is the method by which Bitcoin share is transferred. The payout criteria for Bitcoin mining is 0.1 BTC per day. The payout criteria may differ with the criteria of Bitcoin mining pools.
Bitcoin mining pool is the shared network place, where other miners share their processing power to generate more rewards. These rewards are automatically distributed among the pool members. You can join a pool if you are thinking of earning Bitcoin without investing much of your time.
Bitcoin mining share is basically a hash which is smaller than the target for difficulty of 1. Basically, a share has no value. It is used to monitor the functioning of the mining process and keep a check on the rewards that are equally distributed among the users by fair means.
TH/s and GH/s are the measurements of hash rates per seconds. 1 TH/s is 1,000,000,000,000 that is one trillion hash rates per second, whereas 1 GH/s is 1,000,000,000 that is one billion hash rates per second.
Spanish
Chinese
