Mining — making a profit by renting out computing power.
It looks like this. In order to mine cryptocurrency, some time ago, it was enough to use the central processor of a computer. Computational complexity is growing, more and more power is required, electricity consumption is also increasing, but the mining industry is developing as well.
Let’s take a look at some of the mining possibilities.
A very popular method is GPU mining. To do this, they assemble a computer in a convenient case — a barn, spacious enough to accommodate 4–8 video cards, and sometimes more, and well ventilated, since it heats up very intensely.
Having assembled your farm, you need to install specialized software, based on the operating system or from a flash drive on a virtual system. Next, we set up our farm for a pool where coins will be mined.
“Pool — a hub for joint production of tokens”
You must first register on the pool and receive the necessary parameters and instructions for configuring the farm.
Study the question. There are sites that not only combine capacities into a pool, but also switch the farm’s power to the coin that is more profitable to mine at the moment. Such a pool is not difficult to find, they are often signed with multipools.
Another type of mining equipment is an ASIC miner. This is a very good investment if you have enough capital to buy multiple units on pre-order. Such equipment goes on sale with its own software, it only needs to be connected to the pool and to the mains. This equipment is expensive, but the profit margins are high.
Important! Carefully study the subject — how much electricity does the farm or ASIC spend, what is the production forecast and the payback period.
Do not forget, if your equipment today produces 1 ETH per day, then perhaps in a month it will only mine half. Take the mining complication rate seriously.
Cloud mining is a fun way. You pay for the rental of someone else’s mining equipment and virtually connect it to the pool where it is convenient for you to mine. The same nuances with the depreciation of equipment, i.e. over time, the rental price will exceed the amount mined. But don’t forget about the growing cryptocurrency market. Study the issue carefully, and your decisions will bring you profit.
Cudo Miner Mining platform on your computer