How is bitcoin mining

A significant driver behind this sudden drop was news that China had begun a sweeping crackdown on the cryptocurrency industry, due to concerns about financial risk and excessive energy consumption. Before the clampdown, China accounted for two-thirds of Bitcoin mining worldwide. In the months since, mining companies have been quick to move their operations overseas. Bitcoin is a decentralised digital currency, meaning that each time money is sent or received, the transaction is kept on a public record, rather than with a bank. To verify transactions, miners connect computers to the network and use them to solve incredibly complex, randomly generated mathematical puzzles. The Bitcoin network would rank 32 nd in the world by annual electricity consumption if it were a country.

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Content:

• Congress weighs cleaning up cryptocurrency mining in the US
• Bitcoin Mining
• Bitcoin-mining power plant raises ire of environmentalists
• How coal country lawmakers came to love crypto
• Is it game over for Kazakhstan’s Bitcoin miners?
• Bitcoin: Who owns it, who mines it, who’s breaking the law
• What Is Bitcoin Mining: How Does it Work, Proof of Work, Mining Hardware and More

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Congress weighs cleaning up cryptocurrency mining in the US

Adrian Kingsley-Hughes is an internationally published technology author who has devoted over two decades to helping users get the most from technology -- whether that be by learning to program, building a PC from a pile of parts, or helping them get the most from their new MP3 player or digital camera.

I'm old enough to remember being given a couple of bitcoins when they were worth next to nothing. Needless to say, I don't have them anymore. Now, with bitcoin and other cryptocurrency prices skyrocketing again, there's renewed interest in cryptomining, which is a way to accumulate cryptocurrency without having to pay for it. The best crypto credit cards. Read More. Let's take a look at what makes a good cryptomining rig, and what hardware it takes if you want to be serious about mining.

In the most basic terms, you are using a computer or computers to solve cryptographic equations and record that data to a blockchain. Taking this a bit deeper, miners verify the hashes of unconfirmed blocks and receive a reward for every hash that is verified. The process is computationally intensive, requiring state-of-the-art hardware if you are planning on making much headway with mining.

Mining, as it was back in the days of the gold rush, is not for the faint of heart. And as with all high-end systems, it's less a case of how much do you want to spend, and more a case of how fast do you want to spend. So, what hardware do you need to mine cryptocurrency?

OK, the "rig" is essentially a customized PC. Where things deviate from the norm is when it comes to the graphics cards. You're going to need quite a powerful GPU for mining, and likely you are going to be buying more than one. A lot more. In fact, you can think of a mining rig as a relatively cheap PC with one or more high-performance GPUs attached.

You need to connect multiple graphics cards to a single system, which means you also need a motherboard to handle that. You'll also be looking at more than one power supply unit PSU if you're planning to push things to the extremes. There are also some other mining-specific items you'll need to make the mining rig ready for mining.

OK, let's start with the motherboard. The Asus B Mining Expert is a beast of a motherboard, capable of having 19 graphics cards connected to it. That's a lot. The board isn't new -- it was released in -- and it is finicky when it comes to setting up it needs a specific layout of AMD and Nvidia graphics cards ,. Asus has published recommend GPU layouts for , , and card for this board, and while other layouts might work, I recommend staying with what the manufacturer suggests, as veering away from this is a recipe for a serious -- not to mention expensive -- headaches.

Yes, prices are soaring for this motherboard, but that's part and parcel of bitcoin mining. A lot less powerful, but a fraction of the price. This quad-core Core i5 is perfect for this setup and works great with the motherboard chosen above.

You're not going to overspend on RAM either. SKILL fits the bill. Also: Best external hard drives. Depending on how many graphics cards you have installed, you may need multiple PSUs.

It's tempting to find the cheapest possible, but since they are going to be pushed hard, I recommend paying a little more. These Segotep PSUs are middle-of-the-road good value, yet they offer reliable performance. The modular nature also means that you're not turning the mining rig into a spaghetti of wires. This is where a bitcoin mining rig differs from a regular PC in that you can't have all the graphics cards directly attached to the motherboard, so these risers allow you to connect them indirectly.

You're going to need one of these for every card you connect other than the card that goes into the x16 PCI-e slot. This six-pack of powered risers are great and provide stable power to your graphics cards. I do not recommend using non-powered risers. I've had nothing but problems with stability using them in the past in cryptomining rigs, so don't make the same mistake I made!

This is a great card and everything you're looking for in a mining rig. Loads of potential for overclocking, stable, and great cooling. Another nice side benefit is that it's quite an efficient card, which means lower power consumption and reduced mining costs. Best cheap gaming laptop Level up for less.

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You also agree to the Terms of Use and acknowledge the data collection and usage practices outlined in our Privacy Policy. What are you looking for? Preferences Community Newsletters Log Out. Written by Adrian Kingsley-Hughes , Contributor. Adrian Kingsley-Hughes Contributor Adrian Kingsley-Hughes is an internationally published technology author who has devoted over two decades to helping users get the most from technology -- whether that be by learning to program, building a PC from a pile of parts, or helping them get the most from their new MP3 player or digital camera.

Full Bio. Posted in Hardware 2. Cryptocurrency has been -- and continues to be -- a wild ride. ZDNet Recommends. What is cryptomining? What is a cryptomining rig? The board isn't new -- it was released in -- and it is finicky when it comes to setting up it needs a specific layout of AMD and Nvidia graphics cards , Asus has published recommend GPU layouts for , , and card for this board, and while other layouts might work, I recommend staying with what the manufacturer suggests, as veering away from this is a recipe for a serious -- not to mention expensive -- headaches.

Note: Asus recommends running Windows 10 with this motherboard. View now at Newegg. View now at Walmart. RAM G. View now at Amazon View now at Newegg. How to build a cryptomining rig: Our favorite components. Watch Now. My Profile Log Out. Join Discussion for: How to build a cryptomining rig: Bitcoin Add Your Comment. Please review our terms of service to complete your newsletter subscription. See All.

Bitcoin Mining

Bitcoin operates on a decentralized computer network. Bitcoin is a digital currency that has garnered global popularity owing to its skyrocketing price. Bitcoin mining requires solving remarkably complicated problems of mathematics that authorise transactions in the currency. When a bitcoin is mined, the miner gets a predetermined portion of the digital currency.

Bitcoin-mining power plant raises ire of environmentalists

Adrian Kingsley-Hughes is an internationally published technology author who has devoted over two decades to helping users get the most from technology -- whether that be by learning to program, building a PC from a pile of parts, or helping them get the most from their new MP3 player or digital camera. I'm old enough to remember being given a couple of bitcoins when they were worth next to nothing. Needless to say, I don't have them anymore. Now, with bitcoin and other cryptocurrency prices skyrocketing again, there's renewed interest in cryptomining, which is a way to accumulate cryptocurrency without having to pay for it. The best crypto credit cards. Read More. Let's take a look at what makes a good cryptomining rig, and what hardware it takes if you want to be serious about mining.

How coal country lawmakers came to love crypto

A once-dormant power plant is humming with activity outside Pittsburgh as thousands of miners work 24 hours a day. The first to solve the equation is rewarded with the digital financial token known as bitcoin. But the large amount of power needed to run these computers has re-ignited a debate in Pennsylvania and around the country about the potential climate consequences of cryptocurrency. Bitcoin is a type of digital money not regulated by any company or government.

Is it game over for Kazakhstan’s Bitcoin miners?

At its peak, cryptocurrency mining was an arms race that led to increased demand for graphics processing units GPUs. Despite the increased demand for GPUs, thecrypto mining gold rush quickly came to an end, as the difficulty of mining top cryptocurrencies like Bitcoin increased just as quickly. Mining cryptocurrencies, however, can still be profitable. So, what is crypto mining, is it legal, and how can you get started? This article takes a closer look at these questions.

Bitcoin: Who owns it, who mines it, who’s breaking the law

WKBW — There are three cryptocurrency facilities now operational in Niagara Falls, and 7 News took an exclusive look into one of them - Blockfusion , which mines Bitcoin. It is one of the most powerful natural landmarks when it comes to hydro power Blockfusion tells 7 News they want to embrace Western New York and shape the company with our community. The Niagara Falls City Council tells 7 News that at least 20 complaints have been filed against the extreme noise the facilities make - specifically the U. Bitcoin facility found on Buffalo Ave. Due to the noise issue, Niagara Falls Mayor Rob Restaino issued a day moratorium on new cryptocurrency development and facilities in the Falls.

What Is Bitcoin Mining: How Does it Work, Proof of Work, Mining Hardware and More

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Jack Dorsey's payments company Block formerly Square is going to start mining for bitcoin. In a string of tweets, Block's general manager for hardware, Thomas Templeton, laid out the company's plans for next steps. Templeton says the goal is to make bitcoin mining — the process of creating new bitcoins by solving increasingly complex computational problems — more distributed and efficient in every way, "from buying, to set up, to maintenance, to mining. The idea of making the mining process more accessible has to do with more than just creating new bitcoin, according to Templeton.

Still, Pongsakorn, 30, has been able to sell hundreds of units across Thailand as small players jump into cryptocurrencies as China cracks down on the lucrative market. The biggest packed up and shifted operations to the United States — particularly Texas — Malaysia, Russia and Kazakhstan among other countries. That created an opportunity for entrepreneurs like Pongsakorn, who was on hand to whisk the unwanted gear — mainly the Bitmain Antminer SJ19 Pro — from Shenzhen to Thailand. Their ranks include people chasing a stable income during the pandemic, but also investors who believe in the future of digital assets. Many bigger Thai investors are closely watching neighbouring Laos, which is tacitly embracing the rise of cryptocurrencies. The poor, officially communist country of 7. In November, the communist government opened up crypto mining and trading by offering licences to six large, well-connected Laotian companies.

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