Bitcoin is a cryptocurrency that was first introduced in 2009. It is the first decentralized digital currency and works without a central bank or single administrator. Bitcoin isn’t printed, like paper money; it is mined by computers.

What is Bitcoin

Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million.

Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of April 202, over 29300 merchants and vendors accepted bitcoin as payment Worldwide (source https://coinmap.org/).

What is Mining?

Mining is the process of adding transaction records to Bitcoin’s public ledger of past transactions. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the block chain to differentiate legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.

Mining is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady. Individual blocks must contain a proof of work to be considered valid. This proof of work is verified by other Bitcoin nodes each time they receive a block. Bitcoin uses the hashcash proof-of-work function.

The primary purpose of mining is to allow Bitcoin nodes to reach a secure, tamper-resistant consensus. Mining is also the mechanism used to introduce bitcoins into the system. Miners are paid any transaction fees as well as a “subsidy” of newly created coins. This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system through mining.

Bitcoin Mining Process

Bitcoin mining is the process of creating new bitcoins by solving complex mathematical equations. miners use special software to solve math problems and are awarded bitcoins in exchange for their work.

This process can be done on any computer, but it requires specialized hardware and a lot of electricity. that’s why most bitcoins are mined in places with cheap or renewable electricity.

Is Bitcoin Mining Profitable?

Bitcoin mining is currently only profitable using mining machine called ASIC such as Antminer by Bitmain. It is, however only profitable if you electricity is either free (PV, wind etc) or very cheap.

Is it possible to mine Bitcoin at home?

It is still possible to earn Bitcoin in your home, office or warehouse environment.

Hardware Requirements

Here come a GPU Mining Rig. These use graphics cards and use a lot less power. You can take advantage of a service called Nicehash that will pay you in BTC directly to your wallet. You can also mine alt coins such us Ethereum, Raven Coin, ERGO and many others.

Here at TekHouse we focus on GPU Mining and we can provide you with the necessary rig to get started.

GPU Mining Rigs Starter Bundles (without Graphics Cards)

GPU Mining Rigs with Graphics Cards (just add your wallet address and start mining)

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