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Awesome mine electroneum11/16/2023 ![]() ![]() It can also be used to mine cryptocurrency. ![]() GPU MiningĪ GPU, or a Graphics Processing Unit, is basically a graphics video card we use for things like watching movies or playing games on our computers. You might like to read this article to learn more about ASIC miners. Additionally, unlike the other two mining equipment types, ASICs are not upgradeable and aren’t as durable. However, one downside of ASIC mining is that it is not available for all cryptocurrencies - for example, mining Monero is not possible with ASIC rigs. ASIC miners are around 100,000 times more efficient and have a higher hash rate than the best CPU and GPU miners - they have a lot of mining power. ASICs are generally not that expensive, on average costing around $300–$500. Generally, most ASIC mining machines are designed and created to mine specific cryptocurrencies. Unlike CPUs or GPUs, ASICs are designed for a single purpose - mining, or solving complex math problems that validate and secure the blockchain. ![]() ASIC MiningĪn ASIC miner, or an Application-Specific Integrated Circuit Miner, is probably the least well-known yet the most efficient form of crypto mining hardware there is. That’s why it’s called proof of “stake.” How Can You Mine Crypto? What Is the Best Coin to Mine? Most profitable cryptocurrencies to mineĬrypto mining can be divided into 3 categories depending on what hardware (or mining machine) is used. Proof-of-stake (PoS) based cryptocurrencies require you to own a large amount of said crypto: the more you have, the more profit you can get. Mining can differ based on the cryptocurrency being mined: if it has a proof-of-work (PoW) hashing algorithm, it will require spending a lot on electricity and having top-notch mining equipment. To put it simply, cryptocurrency mining is the process of solving complex mathematical equations in order to validate crypto transactions. Fortunately, however, it also doesn’t require you to do any manual labor to get to a treasure arguably more valuable than the shiniest of gems - cryptocurrency. As we have said in some of our previous guides on crypto mining, it, unfortunately, does not include such exciting objects as pickaxes or diamonds. ![]()
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