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What is Bitcoin Mining?

Programmers called miners, decide when to produce or distribute bitcoin, which is not affiliated to a center and does not represent a national law. Miners solve math problems using certain programs, thereby producing bitcoin.

As a miner method, you can opt for cloud mining, hardware mining, or computer mining. During the circulation of bitcoins, transaction accuracy is confirmed by miners and new blocks are added to the chain. This process is called bitcoin mining. Anyone who wants to can mining with suitable hardware and internet environment. It is necessary to have good hardware, good mining software and a bitcoin wallet for production.

The electrical energy spent for production is also added to the costs. Energy is an important factor for both system operation and cooling. Miners who do not want to mining alone can also minimize by establishing a partnership and join the groups called “pool” to facilitate their work.

Miners in pools can be found in various regions or countries, and any miner who wants to have stronger equipment at less cost can use the pool method. Thus, more powerful problems can be solved in less time thanks to powerful hardware. The reward obtained from bitcoin production is also shared according to the contribution made in that production. It is a known fact that mathematical problems created with complex ciphers can be solved 1 billion times per second by devices.