Bitcoin Farms and Rigs

BIn today’s complex economic markets, the Bitcoin trade has become very outstanding and marvelous. bitcoin is an innovative payment network and a new kind of money that is growing fast and has its own special fans. this newly launched trade is a type of currency with the difference that it does not have a central bank. In other words they are not backed by an official center. This type of currency is open source, it’s design is public, nobody owns or controls it and everybody can take part in mining it. The role of miners is to secure the network and to process every bitcoin transaction. Miners achieve this by solving a computational problem which allows them to chain together blocks of transactions (hence bitcoin’s famous “Blockchain”) and making it difficult to attack, alter or stop. For this service, miners are rewarded with newly-created bitcoins and transaction fees. The more miners that mine, the more secure the network. Even ordinary people can install the necessary software on their smartphones and start to mine bitcoins. But the problem is that the rate of mining is very low in this way. Technically speaking, you may earn one penny per year and will waste money on electricity. The process of mining is very complex and difficult including solving massive math problems that cannot be solved by hand. In order to have a successful and profitable mining, you need specialized computers that solve the problems, do the transactions and point you to a mining pools that allows miner to receive more frequent mining payouts. By joining with other miners in a group, a pool allows miners to find blocks more frequently. By compiling a bunch of such specialized computers, namely Rigs , one can prepare a specialized place for a profitable mining. Such a place where there are complex, necessary infrastructure and all the peripheral protections are being generated, is called a Mining Farm or a Bitcoin Farm. In a bitcoin farm, huge structures are working 24 hours a day, 7 days a week to mine bitcoins. Owners need to bear in mind the size, equipment costs, operation costs and power usage before even considering starting up a mining farm. The equipment itself is worth a pretty penny, and the electricity costs sky-rockets pretty quickly owing to the amount of energy consumed by the machines and then the cooling that the equipment needs in order for it not to overheat and blow out. It is not an easy task by any means, but when it is done correctly, it can yield some exceptionally delightful rewards. Originally bitcoin’s creator intended for bitcoin to be mined on CPUs (your laptop or desktop computer). However, bitcoin miners discovered they could get more hashing power from graphic cards and wrote mining software to allow this. Graphic cards were then surpassed by ASICs (Application Specific Integrated Circuits), a form of rigs used to mine bitcoins. Bitcoin and cryptocurrency mining has become a multi-billion dollar industry since the inception of digital currencies and the world now has multiple farms and rigs set up for the purpose of crypto-mining. So the ASIC industry has become complex and competitive. Nowadays all serious bitcoin mining is performed on ASICs, usually in thermally-regulated centers with access to low-cost electricity. But how to know which rigs are the best? There are some salient factors to show us : 1 – Hash rate : how many hashes per second can the bitcoin miner make? 2- Efficiency : since miners use a large amount of electricity, you want to buy one that converts the most amount of electricity into bitcoins. 3- Price : how much does the bitcoin miner cost? Finally, it is interesting to know that 50 megawatt farms that cropped up around the world are located in Moscow, Russi , Linthal, Switzerland, Dalian, China, Reykjavik, Iceland, and Washington, U,S,A.

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