Bitcoin Miner Hosting
Contact +971585759463 / +971552305571 for Miner Hosting inquiry.
Available Locations: UAE, Canada, Russia
Available Algorithms: SHA256 (Bitcoin)
Coming Soon: Ethash (Ethereum)
Form Factor: ASIC Only
WhatsApp: +971555592696 / +971552305571
What is Bitcoin Mining?
Bitcoin Mining is a computation process to discover the next block address in the Bitcoin blockchain to store the data of transactions happened between the last block discovery and now.
How can I earn by Bitcoin Mining?
Miners earn money from Block Rewards and Transaction Fee.
Block Reward is paid when each block is discovered in the blockchain. As on June 2020, a new Bitcoin block is discovered approximately every 10 minutes and paid 6.25 BTC as block reward. This 6.25 BTC will be divided among the group of miners under a pool or a solo miner who discovered the block.
Transaction Fee is paid to the miners from the accumulated fee collected from every Bitcoin transaction during the block discovery period.
How much I will earn from Bitcoin Mining?
Earnings are based on the hash power.
Profit is directly proportional to your hash power and inversely proportional to your electricity cost. So more the hash power and lesser the electricity cost, higher the profits.
You may need to consider the fee charged by the pool, management expenses, and market factors like Bitcoin price and Mining difficulty.
The amount of mining reward will be halved on every 210,000 blocks, which would approximately happen every 4 years. This process is called Bitcoin Halving. It just happened in May 2020. Next bitcoin halving is expected to happen in 2024.
Why Bitcoin Mining is important?
Bitcoin does not have any centralized authority or company to maintain its blockchain. It is distributed among millions of computers called miners across the world to run the Bitcoin blockchain. Bitcoin can not exists without miners. This is same like, how internet cannot exist without computers.