In this article, we will learn about the mechanics dedicated to mining Bitcoin and what is the process of mining. We will also move from the theoretical side to the practical and applied ones.
How can you prepare a mining machine for Bitcoin and then start the mining process?
Hash Rate – what is the hash rate?
Hash is the number of calculations your mining rig performs per second while, trying to solve the mathematical equation.
The hash rate is calculated in units of megahashes - gigahashes - terahashes per second (MH / sec, GH / sec, TH / sec) the higher the rate of the production of Hash, the greater the probability of solving Block Equations.
Bitcoin average power consumption
All this computational power to solve the equations consumes high electrical energy, thus increasing the financial cost, so before choosing the mining rig, you should know its consumption of electricity in watts, when you make sure you will not spend all your money on electricity instead of earning more money from the mining process.
Using the above-mentioned factors, you can calculate the amount of heat generated per electricity consumption of electricity by dividing the resulting hash into electricity consumed by hashes/watts.
Example: If your device is producing 500 GH / Sec and consumes electricity at 400 watts, if you get 1.25 GH / Sec you can calculate the electricity consumed from the electricity bill or there are websites that calculate this for each device.
There is a warning here that in some cases you will use your own computer to operate the mining rig, then the consumption of the computer will add to the electricity consumption of the mining device, so you should take this into account during your calculations.
The cryptocurrency mining rig parts
We can split mining devices into three sections, using mining: (GPUs, FPGAs, ASICs) We will review each type below.
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Bitcoin mining using graphics cards or computer CPU/GPU processor
Your PC is one of the weakest ways to mine Bitcoin. In theory, you can use your CPU to mine bitcoin. But in practice, it is a weak way because of other considerations.
You can increase the output rate of Hash with the addition of a powerful graphics card for your device, as the graphics cards GPU designed to solve too complex mathematical equations to be able to show the models clearly and high-quality video games. This makes them suitable to solve the equations and calculations for the production of Hash from each block.
You can buy graphics cards from two major companies, AMD and Nvidia. High-quality graphics cards cost hundreds of dollars but give you remarkable advantages instead of producing Hash using a CPU.
One of the best things to use GPU graphics cards in mining is that they give you options to control the mining process, unlike other methods as we will mention later.
We can use graphics cards in mining electronic currencies other than Bitcoin, for example, Litcoin uses a different method than Bitcoin to prove the proof of work, namely script.
GPU-based mining is largely disappearing these days because the difficulty of Bitcoin mining has increased dramatically with the release of ASIC devices that graphics cards cannot compete with.
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Bitcoin mining using FPGA circuits
The term FPGA is a shortcut to the Field Programmable Gate Array. FPGA is a programmable logic gate array, which is an integrated circuit, designed to be prepared after it is built. This makes the mining equipment manufacturers buy it in large quantities and then prepare it for the mining process. After the preparation of the mining process, it performs a performance that surpasses the use of graphics cards or computer processors. Each slice can produce about 750MH / sec and of course, for high-quality products and it is possible to put more than one chip within a single device.
Ready-made equipment programs for the mining of bitcoin
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Bitcoin mining using ASIC devices
In this way you will earn a lot of profits. It is the fastest and the best at all. They are devices made up of electronic circuits designed specifically for the work of one thing only. The mining of Bitcoin with the lowest consumption of electricity because these segments are designed only for this task. Unlike other methods, these devices are expensive, but its speed is amazing. The manufacturers are always vowing more power in the future of up to 2 Terahash / sec 2 Terahashes/ sec.
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Mining programs
Normally when mining using programs, we must use a computer with a mining program and a standard biotin client.
This goes back to personal preferences and convictions. Google is a good friend here to start with, then reading, reading and again reading.
What is your experience with building a cryptocurrency mining rig? Please share in the comment section below.