Bitcoin, the most widely used and valuable cryptocurrency in the world, is driven by a process called Bitcoin mining. Defined by three key characteristics, Bitcoin is transparent, immutable, and most importantly, completely decentralized. The decentralized nature of Bitcoin means that it isn’t issued or managed by any centralized authority — instead, the ledger that keeps track of all Bitcoin balances and transactions is managed in a collaborative manner by tens of thousands of Bitcoin Miners around the world.
Even in today’s bear market for cryptocurrency, miners continue to flourish and thrive; because of this, there are a wide range of choices for those wishing to mine Bitcoin and other cryptocurrencies. In this volatile market, efficiency in your mining operation is essential; the right tools will help you gain as much revenue as possible from your investment and activity.
What is Cryptocurrency Colocation Mining?
Cryptocurrency mining continues to evolve at a rapid pace and remains hyper-competitive as we head towards the end of 2018. Today, if you want a real shot at scoring high cap currencies like Bitcoin, then you need to consider collocating your miners. What is colocation — and how can it be used to maximize your cryptocurrency mining revenues? Read on to see what our experts have to say about colocation and how it can help you boost your ROI on your mining investment.
One of the most frequent questions the MiningStore team receives from new and established miners is about the differences between GPU and ASIC mining rigs. While both ASIC and GPU models use complex algorithms to solve problems and generate a cryptocurrency reward, there are differences between the two. Understanding how both GPU and ASIC work and the factors that differentiate them can help you make the best choice for your cryptocurrency mining investment and help you decide if you need to buy a versatile GPU based rig or a dedicated ASIC setup.