Category: 4. Earning from mining crypto

If you’re a tech geek who loves getting hands-on and learning more about how things work, cryptocurrency mining can be rewarding. Setting up your own bitcoin mining rig will teach you more about crypto than hundreds of hours of tutorials and textbooks could. From a knowledge perspective, then, mining could be worth a look. If…

Although we’ve focused on Bitcoin so far, there are in fact hundreds of cryptocurrencies that use a Proof of Work consensus mechanism and are thus mineable. Comparison sites such as WhatToMine allow you to determine the most profitable coin to use based on your hashpower, ASIC type, and other factors such as network difficulty and market price.…

A better approach might be to use a service that hosts a mining rig for you. You pay for the machine and the electricity but everything else is taken care of. You can see your ROI via a dashboard and even work out a breakeven point. Here is an example from Compass Mining. Summarising the…

Solo mining – i.e. attempting to find new Bitcoin blocks using GPUs or ASICs that you control – is no longer profitable. Even with multiple ASICs linked together, you could toil away for weeks, months or longer and fail to discover a new block. In the meantime, you would be running up an expensive electricity…

Bitcoin mining is the process that creates new bitcoin, adding them to the total supply, which has a fixed limit of 21 million, expected to be reached in the year 2140. The first block – aka Genesis block – was mined on January, 3rd 2009, and since then at approximately 10 minute intervals, a new…

What you’ll learn How mining works at a high level DIY mining from home is no longer cost effective What a mining pool is & how to choose one More profitable coins to mine that Bitcoin Mining is the process by which cryptocurrencies like Bitcoin confirm new transactions and add them to the existing historical…