Bitmain Antminer

In simple terms, cryptocurrency mining with Bitmain Antminer is a process that involves solving complex mathematical equations to validate various cryptocurrency transactions. For every newly mined cryptocurrency, the people who make it possible are rewarded with a fraction of that cryptocurrency. Contrary to popular belief, cryptocurrency mining does not involve creating a new currency, but releasing one from the total stock. Most crypto products on the market today have a limited number of coins that will be released over the years, increasing in value as they become rarer. The main reason cryptocurrency mining exists is to solve the biggest problem associated with these currencies, which is double spending. Cryptocurrency mining can be performed using three different types of computer components – Processor (CPU – Central Processing Unit), Video Card (GPU – Graphics Processing Unit) or Application-Specific Integrated Circuits (ASIC) – in depending on the size of the investment you are willing to make. In addition, you can opt for three main approaches – “Solo” mining, i.e. mining on an individual level; “Pool” mining, where multiple miners join a pool to increase the computing power of a server; and “Cloud” mining, which eliminates the need to invest in mining equipment and uses leased computing power. Nowadays, it is possible to mine cryptocurrencies using your mobile phone, lending its computing power to a relevant application. The recent rise in the value of cryptocurrencies has led more and more people to mine for virtual coins. But that requires huge computing power. And from here starts a vicious circle. The more powerful the mining equipment, the higher the electricity bill, used both to power the machines and to cool them.