As we all know, the original Bitcoin relied mainly on the ordinary central processing unit (CPU) mining, which was possible on a home computer.
By 2010, people around the world began to use graphics processing units (GPUs, or graphics cards) to mine bitcoins.
A GPU mining operation is not difficult to set up. Mining graphics cards are suspended on the main board and then connected with the PCIE extension cord. Building this kind of setup did not take long.
As digital currencies like bitcoin become more valuable and competition for mining intensifies, miners are hoping to outdo each other, making it increasingly difficult to mine. Therefore, bitcoin mining shifted to the FPGA (Field Programmable Gate array).
The next step was moving to the most formal and specialized form of hardware: a dedicated integrated chip (ASIC).
ASIC : Application Specific Integrated Circuit, which is an electronic circuit (chip) specially designed for a specific purpose.
The bitcoin network runs SHA256 algorithm’s HASH value calculation. Powerful CPU’s or GPUs are no match for dedicated ASIC chips. A powerful CPU or GPU is not as powerful as a dedicated ASIC chip, which is basically because a professional bitcoin mining machine is designed to calculate the HASH value of the SHA256 algorithm. Conversely, using dedicated ASIC chips to play games is not viable.
Previous data showed that the daily electricity consumption of a mining machine (depending on the of the calculation speed), is about 30 degrees to 50 degrees and monthly electricity consumption about 1,000 degrees.
In addition to electricity rates, there are many ASIC mining machine brands in the market all with different prices, power and calculation power.
It is very important to choose the right miner. (pool.mempool.com provides a one-stop service for mining machines. We provide mining solutions according to your needs and prices). We also look for suitable machines and manage mines for you in the market.
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Before investing in any hardware or mining products, you should use a bitcoin mining calculator (such as mining.mempool.com) to determine whether your operation will be profitable, bearing in mind all the unforeseen costs.