as computing power increased

The myth of bitcoin's rise has pushed words like mining and blockchain to bitmain t17+the forefront of public debate. Many people jumped at the opportunity, eager to get into the game and gain spiritual wealth for free. Mining machine did not carry out the technical enterprise threshold, but has its own purchase product threshold, in the face of the current market, a wide range of mining machines, often thousands of dollars, how to avoid the pit, increasing the possibility of students obtaining more economic benefits?

What exactly is mining, and what are mining machines?

Bitcoin is essentially a collection of cryptographic codes generated by peer-to-peer (P2P) software that is open source. In this decentralized system, "mining" is the process of identifying transactions posted by users and writing them to the blockchain to form new blocks. Miners are involved in the Bitcoin network's maintenance and receive a certain amount of extra bitcoins for assisting in the generation of new blocks.

Each block has a unique hash value, and mining is the process of computing the hash value using their own hardware devices. Bitcoin rewards are distributed based on the contribution of the miner. This is commonly referred to as "mining."

The "miner" is the piece of hardware used for "mining." The miner requires power, a network connection, and a good cooling environment. Mining machine operations necessitate the download of special mining software, and it is preferable for a newbie miner antminer a10 proto join the mine through the pit, as opposed to some large users with large investments who can subcontract the mine to run highly configured mining units.

Mining revenue is influenced by several key metrics.

1.arithmetic ability

The greater your arithmetic power, the more hash collisions you can perform per second, the greater the likelihood of "block explosion," and the greater the likelihood of discovering a useful data hash and mining a coin.

2. energy consumption

In addition to equipment costs, the main cost of mining is daily electricity consumption. The cost of mining decreases as the cost of electricity decreases. If the cost is prohibitively expensive, the payback period is lengthy, not to mention profitable!

u002F miner price x payback period (daily revenue - electricity cost)

Daily return = theoretical number of bitcoins mined * current bitcoin price

In theory, the number of coins the miner receives = (number of mines for the day u002F

the computing power of the whole network) * the computing power of the miner.

Classification of mining machine purchases

Let us begin with the selection of bitcoin miners information.

Bitcoin mining has progressed through several stages. You can mine on a regular PC at the a10 pro minerstart of the CPU phase. Then, as computing power increased, GPU mining models began to mine by burning graphics cards.

However, as more people mined, the early days of using CPUs, graphics cards, and other PCs to mine bitcoins were over, and specialized mining machines or chips were required to mine bitcoins.