Bitcoin Mining profitability is something that is always in flux. Bitcoin having such a high difficulty and large total hashrate at times profitability comes down to several things. The first set of data you use for discovering if mining can be profitable for you or not is the following but not limited to: Cost of Bitcoin ASIC Miner or Miners Cost of electricity…
It s a common misunderstanding that score based reward systems like Slush s underpay infrequent miners. While it s true that shares in a given round devalue if you mine towards the beginning of a round and then leave long before it finishes, you have to also take into account the fact that the length of a round is random. So you have equal chances of arriving…
SHA-256 and Scrypt are the two most common algorithm systems used by cryptocurrency miners in order to authenticate blocks of transaction data. The system used, unfortunately, is not up to the miners; it s set by the developers of a given type of currency. When you go to cryptocurrency discussion boards and forums, you ll find there s a vigorous debate between…
How do you create a 500kW data center that can run inside a high-rise office building? That’s what Allied Control recently did in Hong Kong, where it created a data center that housed custom Bitcoin mining rigs in a rack-mounted immersion cooling system. We’ve as a novel implementation of high-density cooling for ASIC-based systems for validating Bitcoin transactions…
This is the first feature in our three-part series on Bitcoin mining infrastructure. The Bitcoin mining craze is driving the creation of a new breed of computing facilities featuring high-density hardware, low-reliability electrical infrastructure and off-the-shelf enclosures. These “hashing centers” often are built in old warehouses and house servers on shelving…
Bitcoin is an open-source, digital currency that has caught the public imagination for reasons good and bad in the last couple of years. Bitcoins are created as a reward for the computationally intensive work of verifying and recording payments in a public ledger. This work is called mining and the more computing power that is put in, the more bitcoins that are…
Bitcoin Group’s shares are now slated to debut for public trading on the Australian Securities Exchange (ASX), under the symbol BCG, on February 2, 2016. This comes after the listing has been pushed back a few times before due to the Australian Securities and Investments Commission (ASIC) asking the group to clarify some statements. The Melbourne headquartered…
Is mining Bitcoin or any other digital currencies still profitable? It’s a question many are asking, but the answer may vary depending on the person. Digital currency mining has proven to be extremely popular over the last years, as it has been an easy way to earn “free” money and allowed people to accumulate their cryptocurrency portfolio. “Mining” is the term…
TL;DR: Mining is heavy duty number crunching, your iMac is useless for that. Running a node helps the network and gives you your own copy of the blockchain. Your iMac should probably be able to do that. Mining The purpose of mining is to 1. achieve consensus about the state of the network, 2. confirm transactions, and 3. initially distribute the bitcoins. For…
KnC Miner , a company that provides hosting services and builds software for bitcoin mining, has added 20 megawatts to what was previously going to be a 10 megawatt data center in Boden, Sweden, in the vicinity of a massive Facebook data center. The company said it decided to expand its data center capacity in Boden to a total of 30 megawatts and 160, square…
Things continue to heat up in the Bitcoin mining world as of late. As the hashrate continues to increase, it is only to be expected the mining difficulty continues to go up accordingly. Earlier this morning, the difficulty adjusted once again and increased by 7.43%. This adjustment marks a new all-time high for mining ever since bitcoin was created. New hardware…
Our computers has very less power when we compare it to the difficulty level of mining and it s very hard to get one bit coin. But to overcome the second issue there are pools . But still the first issue remains the same. The ordinary desktop computers doesn t perform in a good manner relative to performance/costs spent for the hardware . But, Google has a…
If you have been paying attention to bitcoin at all lately, you may have noticed a lot of talk going on about forks . Not like the kind you would find on a table, on a blockchain, a fork is a technical event that occurs because diverse participants need to agree on common rules. At its most basic, a fork is what happens when a blockchain diverges into two potential…
Bitcoin Exchanges Some Bitcoin miners simply keep the Bitcoins they mine, typically in a Bitcoin wallet on a PC (hopefully, they don’t forget to make backups of their wallets). Other miners may need to pay off their investment in mining hardware and want to cash out. The way to do that is to sell Bitcoins (or fractional Bitcoins) at one of the Bitcoin exchanges…
Refers to using targets greater than difficulty 1 for pool shares. With the advent of ASIC mining, many hashrates may be sufficiently high that difficulty 1 creates too much traffic for share submissions, and is expected to become necessary in the near future. Concept With rapidly-increasing hashing speeds, miners are rather wasteful in terms of bandwidth. Each…
We have collected four typical scams to remind you that Bitcoin is just cash, and you should take care to use it as real money: Carefully. Most frauds and scams don’t happen because of the technology involved but rather due to the underlying greed and callousness on the part of the users. There is something about Bitcoin that attracts all kinds of scam artists…
At the Black Hat 2014 conference in Las Vegas, Rob Ragan and Oscar Salazar, penetration testers from Bishop Fox, demonstrated a technique for cloud-based bitcoin mining that cost them exactly…nothing. At this moment, one bitcoin is worth $576.57. With a hefty exchange rate like that, bitcoin mining without the need to devote massive computing resources could…
Bitcoin is deflationary, meaning that mined coins are finite. Once miners unearth 21 million coins, that will be the total number of Bitcoins that will ever exist. But due to lost and forgotten wallets, active Bitcoins will be far lower than that. On the 30th March 2015, Bitcoin reached the total circulation amount of 14 million coins. There is now two thirds…
A federal lawsuit filed by investors of a US-based bitcoin mining operation is moving ahead after months of little movement. In mid-2014, investors in Lab Rat Data Processing alleged breach of contract, misrepresentation and fraud against the mining operation and its owner, Zachary Dailey. Bitcoin mining is an energy intensive process by which new transactions…
Courtesy itunes.apple.com Marco Streng is a miner, though he does not carry a pick around his base in south-western Iceland. Instead, he keeps tens of thousands of computers running 24 hours a day in fierce competition with others across the globe to earn bitcoins. In the world of the web-based digital currency, it is not central banks that add new money to the…
Bitcoin may be revolutionizing the way we understand money, but it hasn’t made everything obsolete – like books. Books remain a powerful resource for storing and transferring knowledge to the masses, and whether you prefer to consume them on crisp paper pages or through the soft glow of a tablet, we hope you find time to flip through these: . This book is an…
As GPU mining made CPU mining non-profitable, at some point in time more specialized mining hardwares (FPGA and ASIC) would make GPU mining non-profitable. When is GPU mining considered not-profitable? Considering $1 rig, $0.2 per kWh and one year break-even period, at which difficulty does GPU mining become non-profitable? Or, what is the formula to find out…
David Schwartz s answer is entirely accurate, but all that bitspeak might be a little intimidating to the average user. Let me try and put it into more plain language: The way Bitcoin works is that instead of having one central authority who secures and controls the money supply (like most governments do for their national currencies), this work is spread out…
The company, which currently controls 18.6 percent of the Bitcoin network’s hashpower, plans to build a highly efficient and powerful data center to increase its share of Bitcoin’s hashrate distribution and demonstrate the importance of utilizing renewable energy, such as solar energy, to operate its massive data center. “We have seen that most data centers in…
OXBTC ( – a China-based cryptocurrency investment platform lately unveiled its upgraded and expanded farms for Bitcoin/Litecoin/Ether cloud mining, which is about to beat all major miners and become the world’s largest one. Located in 3 different regions in China (Sichuan, Ordos and Inner Mongolia), OXBTC’s mining farms cover a total area of over 200 acres, running…
Carlye Calvin/UCAR According to the March IG report, the unnamed researcher used supercomputers at two different universities — although quite surprisingly — mined only a very small amount of around 12-16 bitcoins valued between $8, and $10, . The researcher said he was just conducting tests on the computers, the report said. The researcher asserted that he…
Many people wished they had not missed the Bitcoin mining bus before the great Bitcoin boom started back in 2013. Back then you could mine Bitcoins pretty easily at home and make a very nice profit on the exchange rate. However since then, the mining difficulty has increased immensely and today it is almost impossible to mine Bitcoin profitably at home with your…
