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Building a Bitcoin Mining Machine

By CryptoFinally | CryptoFinally | 16 Aug 2020


The Bitcoin industry is growing larger by the day. As new ideas spring up in the sector and more investors come in, the span of operations grows wider and more innovative designs aimed at securing profit from the sector are invented. Over the years, we have seen a wide range of ideas and concepts developed by different individuals around the world just to capitalize on the profit margin from Bitcoin. The birth of some of these genius ideas has relegated the old ways of carrying out some transactions i.e (performing tasks). Nonetheless, a major stream of income which certainly will not seize or be replaced by an innovative stride is the process of manufacturing or rather sourcing out for Bitcoin. This process is what is referred to as Bitcoin Mining.

Watch the full livestream on building a Bitcoin miner here:

https://www.youtube.com/watch?v=qhW_ecdZFIQ

What is Bitcoin Mining?

Bitcoin is an electronic currency. So also, it’s mining is an electronic procedure. That being said, take your mind off going to a field or construction site to dig for Bitcoin.

In simple terms, Bitcoin Mining is the process of outsourcing bitcoins from a series of algorithms. (calculations). To be clearer, it is the process of using high-level computers to calculate the algorithms involved in the Bitcoin blockchain network in order to validate and authenticate the right transactions and also secure the network from any breach. In the course of carrying out these complex calculations which come as a result of new transactions on the Bitcoin network, a new block is sometimes found. This block usually contains about six Bitcoins. When this block of Bitcoin is found by the Miner i.e the person who initiates the process, Bitcoin I said to have been mined.

How is Bitcoin Mined?

Just like every other mining procedure requires the use of certain tools, Bitcoin mining is done with a mining machine. A mining machine is a strong computing processor used capable of processing complex algorithms into simple relatable figures. The machine comprises of some component parts listed below.

  1. MotherBoard
  2. GPU
  3. CPU
  4. RAM
  5. Cooling Fans
  6. Integrated circuit

The above-mentioned parts are not exhaustive but are the basic components.

Key Considerations in Building a Mining Machine

In assembling all these parts together to build a machine there some key factors that you must bear in mind.

  1. The operation of mining requires fast processors: As a result of the complex algorithms involved in the entire mining process, your typical PC will not do the job efficiently. In other words, the specification of the components earlier mentioned must be very high. As a matter of fact, the higher the better. The RAM should be a RAM stick of at least 4 gigabytes. The GPU must be high tech though you might decide to use a simple CPU. This is because it has been discovered that in the mining of  Bitcoin, the GPU does most of the work; since the calculations are repetitive in nature. Also a strong motherboard with a good power IC I highly recommended.
  2. The system must be cool at all times: By the peculiar nature of the entire process, the system faces overheating most times. To tackle this, it is suggested that you use as many cooling systems as possible. This is because if the system experiences overheating, it has to slow that processing to cool again before it continues running at optimal speed. And the last thing you need in the middle of a mining process is for your system to slow down as it could prolong your mining and potentially prevent you from getting any Bitcoin.
  3. Check the cost of electricity: If you want to realize any profit from the entire process, then you must make sure you don’t spend so much on electric bills. Mining consumes a lot of electricity. This is why it is better for you to mine with a pool of other miners.

Once you have in place these modalities, all that is left is for you to get into the actual process and start calculating and validating transactions. Bitcoin mining is a profitable venture and with the right materials and conditioning, you can be really successful.

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