Guide To Start Mining Bitcoins

When mining bitcoin, different hardware is used in order to be successful and they are grouped into three major categories. Each category features expensive and very powerful hardware. This article will define each category and explain how to start mining with them. In order to start mining, there are a few considerations to know what type of hardware to choose from – hash rate and energy consumption. Hash rate is defined as the amount of calculations that the hardware can do per second in order to solve a mathematical problem. Energy consumption is important because as the hardware continues to compute math problems, your electric bill also continues to increase which means paying a lot. Choosing a good hardware will entail that you have to check the wattage consumed so you will not pay more to your electricity compared to the amount of bitcoins you have mined.

The three major categories of hardware used in mining bitcoins are GPUs, FPGAs and ASICs. The CPU/GPU is the hardware category with the lowest power since you will be using your own computer. In theory, it is possible to perform bitcoin mining with the help of your CPU and computer but it will be pointless since it is very slow and you won’t be mining much. If you desire then you can improve your computer by integrating graphics hardware since it contains GPUs or graphical processing units.

Second category is FPGA or the Field Programmable Gate Array that contains an integrated circuit for the purpose of configuring once it has been assembled. With this, the manufacturer of the mining hardware has the option to purchase chips by the volume and do customization before it is integrated to their own equipment to perform bitcoin mining.

The third category of hardware used by bitcoin miners is the ASIC or Application Specific Integrated Circuits. It is designed to perform a very specific task – bitcoin mining at very high speed. This is done very fast one would not be able to believe the speed considering that the power consumption is very low. With its performance, it is not surprising to know that it is very expensive.

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