Your browser will redirect to your requested content shortly. Please forward this error screen to 158. We show you the various methods of making money by mining Bitcoins. 5 3 0 9 bitcoin gigahash 9 5.
2 5 41 5 45. 7 5 109 5 110. 4 124 17 124 18. Note: Our guide on Bitcoin mining has been fully updated. This feature was first published in November 2015. Mining is the process of using a computer to perform complex calculations on blocks of data which maintain the Bitcoin network. You’ll learn more about this in the following steps.
The actual profit you make will depend on a number of factors. Computers designed for mining, or ‘rigs’ as they’re commonly known, require large amounts of electricity, which will increase running costs. The complexity of mining also rises over time. The Bitcoin itself is a very volatile virtual currency and while it has recently made huge gains, it may also plummet in value.
Bear this in mind if you plan to hold onto any BTC you mine rather than selling immediately. While you can technically try to mine Bitcoin on your own, it’s very unlikely that your rig will singlehandedly solve the complex sums necessary to receive a reward. Instead, you’ll need to join a mining pool. As the name suggests, this is a pool of multiple machines connected together, engaged in a collaborative mining effort. The Bitcoin rewards reaped are shared amongst everyone who contributed processing power to the effort. However, note that the way in which profits are shared can vary from pool to pool. These devices have been specifically designed for mining Bitcoins which means they’ll generally give you the greatest return on your investment.