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Explaining cryptocurrency mining, like Bitcoin and Ethereum – Austin Evans

Bitcoin Mining Rigs – What is it and what does it entail?

A bitcoin mining rig is a computer system used for mining bitcoins. The rig might be a dedicated miner where it was procured, built and operated specifically for mining or it could otherwise be a computer that fills other needs, such as performing as a gaming system and is used to mine only on a part-time basis.

What is Cryptocurrency Mining?

When you build a mining rig, and you join the mining network and start mining, you are rewarded with altcoin (an altcoin is any digital cryptocurrency similar to Bitcoin) for contributing to the overall network hashrate. Just how much money, depends on the mining ‘difficulty’ of the network and the current value of the cryptocurrency measured in your local currency. It also depends on what your goals are when you mine. 

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Some people mine cryptocurrency and convert everything to Rands for example. For others, they mine and hold the cryptocurrency for the long term since, over time, cryptocurrency may significantly go up in value.

The backbone of Cryptocurrency (Bitcoin, Ethereum, BitcoinCash, ZCash, Monero) is cryptocurrency mining. Most cryptocurrencies work with algorithms that need specially designed hardware for optimal mining performance. The best way to become miner is to build your own GPU mining rig or purchase your Bitcoin mining rig direct from Crypto Rigs built to meet your meet specifications. You don’t have to wrestle with rig assembly. We have the fastest bitcoin mining hardware readily available, assembled and configured for you!