In today's digital currency craze, Bitcoin has been the focus of much attention. Among them, Bitcoin mining, as an important way to obtain Bitcoin, has always attracted much attention. This article will take an in-depth look at what Bitcoin mining is and the features and applications of various Bitcoin mining rigs on the market.

Bitcoin mining refers to the process of using computer computing power to decrypt cryptocurrency transaction data, through which miners can be rewarded with new Bitcoins. The process of mining Bitcoin is actually solving a complex mathematical puzzle. Whoever solves the puzzle first will have the power to add new blocks to the blockchain and obtain Bitcoin rewards. This process requires tremendous computing power and electrical support.

There are many different types of Bitcoin mining rigs on the market, each with its own unique characteristics and applicable environments. Among them, ASIC mining machines are currently one of the most popular and efficient Bitcoin mining equipment. ASIC mining machines use specially customized chips that can provide extremely high computing power, so they are widely used in Bitcoin mining. In addition, GPU mining machines and CPU mining machines are also one of the options for Bitcoin mining, and they can also play an important role in certain specific situations.

In addition to traditional mining machines, some new Bitcoin mining equipment has also begun to emerge in recent years. For example, the rise of mining machine cloud service platforms allows ordinary investors to participate in Bitcoin mining without purchasing expensive mining equipment. In addition, some green and environmentally friendly solar mining machines have also gradually attracted attention. By using renewable energy for mining, they can reduce dependence on traditional energy and achieve a more environmentally friendly Bitcoin mining method.

When choosing a Bitcoin mining machine, in addition to considering computing power and energy efficiency, you also need to consider factors such as mining difficulty, electricity costs, and equipment stability. Different mining machines are suitable for different mining needs, and investors should choose the appropriate type of mining machine according to their own circumstances and needs.

Overall, Bitcoin mining is a complex yet promising field, and the various types of Bitcoin mining machines on the market provide diverse options for mining. As technology continues to advance and the market changes, the field of Bitcoin mining will also usher in more innovation and development. For investors, understanding the principles of Bitcoin mining and the situation of mining machines on the market will help to better grasp investment opportunities and achieve financial value-added and risk control. I hope this article can bring readers a deeper understanding of Bitcoin mining and play a certain guiding role in investment decisions in the field of digital currency.

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What is Bitcoin Mining? Mining is a common name for mining cryptocurrencies such as Bitcoin. Mining Bitcoin is like solving a math problem. The first one to get the answer gets the corresponding reward.

Therefore, the entire process of solving and verifying is called mining, and the equipment that assists in deciphering the digital answer is called a mining machine. Therefore, the people who run the mining machine and gain profits are called miners.

When Bitcoin was born, ordinary computers could perform mining operations, and it was easy for individuals to dig out a block. However, with the development of Bitcoin, the difficulty adjustment mechanism of producing a block every 10 minutes, and the increase in the computing power of the entire network. With continuous improvement, the computing power of ordinary computers is no longer enough to mine blocks, and professional mining machines with stronger computing power, namely ASIC mining machines, have been derived. However, the computing power of a single ASIC mining machine is still limited. In the face of the increasing computing power of the entire network, mining pools are gradually emerging as operators that concentrate the computing power of miners.

How to get profits from mining?

The process of mining by miners is to run Bitcoin nodes, synchronize historical ledgers, record the latest transactions into the ledgers, and obtain Bitcoin block rewards. For the Bitcoin network, miners maintain the security of the Bitcoin network through mining. For miners, Bitcoin rewards are shared through mining. The current Bitcoin block explosion/block reward is 12.5 Bitcoins (edit date: September 2, 2019).

Mining is PoW (Proof of Work). The proof of work calculates a value (nonce) so that the Hash calculated after piecing together the transaction data
The value meets the specified upper limit. After the node successfully finds a satisfactory Hash value, it will immediately broadcast to the entire network, informing the entire network that it has packaged a new block. After the nodes of the network receive the broadcast packaged block, they will immediately verify it. If the verification passes, it means that a node has successfully solved the puzzle, and it will no longer compete to package the current block. Instead, it will choose to accept the block, record it in its own ledger, and then compete to guess the next block. Only the fastest puzzle-solving block in the network will be added to the ledger, and other nodes will copy it, thus ensuring the uniqueness of the entire ledger.

Is computing power directly proportional to mining income?

The relationship between computing power and income:

1) Under the same difficulty, the higher the computing power, the higher the income;

2) Bitcoin adjusts the difficulty every 2016 blocks, about two weeks. It may happen that due to the difficulty adjustment of the entire network, the computing power will increase, but the income will decrease;

3) Bitcoin rewards are halved every four years. When the reward is halved, the user's mining income is also halved.

The calculation formula between computing power and income:

Your mining income for a day = your computing power  time of the day (86400 seconds)  block reward (12.5 Bitcoins) / (difficulty of the entire network  2^32)

You can calculate the income through the Biyin mining pool tool: mini mining income calculator



What mining machines are available on the market?

Bitcoin mining has completely reached the era of professional mining machines (ASIC mining machines). The current mainstream ASIC mining machine manufacturers include:

1)Bitmain’s Antminer Antminer

2) Innosilicon Mining Machine from Innosilicon Technology

3) Canaan’s Avalon Miner AvalonMiner

4) Microbit’s WhatsMiner

5) Ebit Miner from Ebang Technology

6)...

For more information about mining machine purchase and dealer contact information, please check the mining machine home page of Biyin Mining Pool: 

What are the mining fees?

The mining fee is the technical service fee paid by miners to the mining pool when mining in the mining pool. Rate models include PPS, PPLNS, PPS+, FPPS, SOLO, etc.

Transaction fees, or mining fees, refer to the fees paid to miners when users initiate transactions, as the miners' income from mining.

Take the mining fee of Biyin Mining Pool as an example:

Bitcoin BTC: 4% FPPS

Bitcoin Cash BCH: 4% PPS

BSV: 4% PPLNS

Litecoin LTC: 3% PPS

Dash: 2% PPS

Ethereum ETH: 3% PPS

Monero XMR: 3% PPS

ZEC: 3% PPS

DXN Coin DCR: 3% PPS

This rate calculation method is the overall handling fee rate of the mining pool. Please refer to the actual mining income for actual income.