If you are reading this, then you are most likely aware of Bitcoin mining and the relative software miners needed in order to connect their hardware. (If you are new to mining, see here: What Is Bitcoin Mining?) If you are planning to start with Bitcoin mining and have stuck around with its legality, then in short, it is perfectly legal!
So you want to get started with cryptocurrency mining, huh? Cryptocurrencies, like Bitcoin, are revolutionizing the way people transfer value between one another. With the ability to send low-fee transfers anywhere in the world within minutes, the blockchain technology that makes it all possible has taken the world by storm over the last ten years. At the core of it all are what are known as “miners”. Miners confirm those transactions and ensure the integrity of the immutable ledger where they are all recorded.
Bitcoin, the most widely used and valuable cryptocurrency in the world, is driven by a process called Bitcoin mining. Defined by three key characteristics, Bitcoin is transparent, immutable, and most importantly, completely decentralized. The decentralized nature of Bitcoin means that it isn’t issued or managed by any centralized authority — instead, the ledger that keeps track of all Bitcoin balances and transactions is managed in a collaborative manner by tens of thousands of Bitcoin Miners around the world.
Great news for Bitcoin miners and ASIC rig fans – Bitmain just released firmware for the Antminer S9, one of the most enduring and popular cryptocurrency mining rigs on the market today. The new firmware is designed to enable “overt AsicBoost”, according to a recent blog post by Bitmain.
Cryptocurrency mining continues to evolve at a rapid pace and remains hyper-competitive as we head towards the end of 2018. Today, if you want a real shot at scoring high cap currencies like Bitcoin, then you need to consider collocating your miners. What is colocation — and how can it be used to maximize your cryptocurrency mining revenues? Read on to see what our experts have to say about colocation and how it can help you boost your ROI on your mining investment.
One of the most frequent questions the MiningStore team receives from new and established miners is about the differences between GPU and ASIC mining rigs. While both ASIC and GPU models use complex algorithms to solve problems and generate a cryptocurrency reward, there are differences between the two. Understanding how both GPU and ASIC work and the factors that differentiate them can help you make the best choice for your cryptocurrency mining investment and help you decide if you need to buy a versatile GPU based rig or a dedicated ASIC setup.
Miningstore is your turn-key cryptocurrency mining solution. We offer top-class hosting services, facilitate large-scale mining investments and can quickly source mining hardware of any type.