Cryptocurrency mining is vital to continue the work of many digital assets, including Bitcoin. If you are new to the industry, you probably understand roughly how it works: computers do the work and get paid for it.
Mining is the process of adding new blocks to the blockchain. Computers or specialized devices solve a complex cryptographic problem, and the first who submits the correct option receives a reward in the form of a cryptocurrency.
Moreover, mining is one of the best ways to replenish your crypto wallet. If you decide to do this, then first you should decide what kind of digital asset you would like to mine. The number of cryptocurrencies themselves that can be mined is in the hundreds, but not all of them are worth it.
The most popular options are Bitcoin, Ethereum, Dogecoin, Litecoin, Bitcoin Cash, Monero, and other high market cap assets. What you need to start mining will depend on the choice of the coin.
Is it possible to mine on a personal computer? If it were 2010, the answer would be “Yes”. However, much has changed since then, and now lone miners who have used programs for BTC mining on their computers can no longer wait for profit. Especially when it comes to popular cryptocurrencies with high task complexity.
To withstand at least some competition, solo miners now need to invest money (and a lot) in creating their mining farms. And here, depending on the chosen cryptocurrency, there are two main options: a specialized device (ASIC) or video cards.
ASIC miners are designed specifically for mining cryptocurrencies, they have no other tasks. With their help, you can most effectively mine, for example, Bitcoin. But we must not forget that it would be best to purchase several of these devices at once. The average price of one miner is 2.000 – 3.000$. On average, you need at least 2-3 miners for a mini-farm. To accommodate ASIC miners, it is necessary to find a room and provide a cooling system, since these devices are used for industrial mining. They consume a lot of electricity and generate a lot of heat.
A mining farm based on video cards is designed like a regular home computer, in which there is a clear bias towards graphics performance. When choosing a video card, you first need to pay attention to its hash rate – how efficiently the graphics processor can search for a solution to a cryptographic problem. In addition, do not forget about power consumption and price, as well as the age of the card, as used devices may be in poor condition.
A mining farm is promising, but you need to choose the right equipment and calculate the entire economy, find a suitable location with favorable electricity rates and other conditions. It is quite difficult to build a mining farm alone, especially given the many aggravating factors such as equipment repair, thermal insulation, and huge electricity bills.
Is there an alternative to classic mining? Yes! This is cloud mining: this process involves renting equipment from a large mining farm remotely, which allows absolutely everyone to use mining, both beginners and professionals in the field of cryptocurrencies.
One of the most promising representatives of cloud mining is GreenHashes. Professionals in their field have chosen renewable energy sources for BTC mining. Powerful equipment will allow you to get the most out of cloud mining. To build such a farm on your own will take a lot of time, effort, and resources.
Leave all the technical difficulties about setting up the mining farm equipment to professionals. By choosing GreenHashes, you become part of a huge ecosystem of miners from all over the world.
To start getting profit from Cloud Mining, it is enough to create an account on the GreenHashes website and choose one of the contracts: it differs in capacity, duration, and referral level. Do not forget to check the referral program: share useful information with friends and receive bonuses.
In case of any questions about the service or suggestions, write to support@greenhashes.io – the support team has an individual approach to each client, taking into account all the wishes, and trying to implement it as soon as possible for further use. To keep abreast of the latest news about mining and cryptocurrencies, you can join the official Greenhashes telegram channel and subscribe to the company’s social networks via their Twitter handle, where you can find a lot of useful information on investments and eco-friendly mining.
Disclaimer: This is a paid post and should not be treated as news/advice.
