INTERESTED IN PURCHASING A BITCOIN MINING RIG?

Generally, cryptocurrency mining refers to the process of gaining cryptocurrencies (like Bitcoin, Litecoin, or Dogecoin) by solving cryptographic equations by employing highly efficient and super fast computer systems. The solving process comprises verifying data blocks that represent hundreds if not thousands of transactions. In addition to verifying data blocks, crypto mining also involves the process of adding transaction records (in the form of a block) to a public record or public ledger. This public ledger is known as a blockchain. This data is then secured by applying complex encryption techniques. Hence the name “crypto currencies.”

Unlike CPUs which can perform numerous different types of computing tasks, GPU devices perform a narrow range of computational tasks. Originally built for gaming applications, GPUs excel at computing mathematical operations in parallel. These devices can also be re-programmed to compute other mathematical operations such as the ones required to mine bitcoin.

Another important factor to consider when selecting an ASIC miner is the expected power consumption. The cost to power a mining rig can significantly impact the return that you receive on your miner investment.

A third consideration is what is your device purchasing budget. Then, you can determine the amount you can afford to spend on a mining machine and other mining related expenditures. Such mining related expenditures may include installation, repairs, spare and replacement parts, and maintenance.

All the views expressed on this site are those of Thomas Wettermann and do not represent the opinions of any entity whatsoever with which Thomas Wettermann has been, is currently, or will be affiliated.

Trading digital financial assets such as cryptocurrencies can carry a high level of risk, and may not be suitable for all investors. Before deciding to invest, purchase, and/or trade cryptocurrency you should carefully consider your investment objectives, level of experience, adversity to risk and volatilities. The possibility exists that you may sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from a qualified and independent financial advisor. Thomas Wettermann is not an independent financial advisor.

Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary of Thomas Wettermann, and does not constitute investment advice. Thomas Wettermann will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. All opinions expressed on this site are owned by Thomas Wettermann and should never be considered as advice in any form.

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