Answers on questions

Everything you wanted to know

What is mining?

Mining is a cryptocurrency production. Miners are users who are engaged in mining.

The goal of mining is to calculate the hash of the block header in the blockchain. Block contains hash of the previous block's header, a set of transactions (also in the form of hash) and a random number (necessary for the operation of encryption algorithm). Miner receives a reward in case if the value of the resulting hash turned out to be less than the current hash target. In this case a new block is created.

Mining can be cost-effective depending on various factors: BTC rate to other currencies, current complexity, cost of electricity, cost of mining equipment, etc. Mining requires very large computing power, and the more power there will be in the network, the greater is the difficulty and the less each miner will receive. However, the greater the network, the more it is protected, since entering of false information and its acceptance by the network will require such power that the attack will be economically unprofitable.

What are the internet speed requirements?

Traffic in mining depends on various factors such as number of devices, their performance, and computational difficulty indicated by mining pool. Maximum traffic for one properly configured device rarely exceeds 10 kb/s, thus, even weak dial-up connection may be sufficient, however the stability of the connection is exceptionally important.

Miners who do not have a stable wired connection often use 3G mobile routers with the cheapest unlimited fare. If you have a few dozen, or even hundreds of mining devices, you will need a much more wider and stable channel.

How profitable is mining?

Bitcoin is a decentralized system, it depends on the principles of changing the complexity of coins generation depending on the total power of the system. Difficulty changes every 2016 blocks so that the average amount of blocks solved was close to 6 blocks per hour. Therefore, the difficulty changes approximately every 14 days. But if the network power increases, then the complexity changes earlier (increases), and if the network power decreases, then the complexity changes later (decreases).

What are ASIC chips?

ASIC (Application-Specific Integrated Circuit) is an integrated circuit customized for a particular use, rather than intended for general-purpose use. Unlike general-purpose integrated circuits, specialized chips are used in a specific device and perform strictly limited functions characteristic only to this device. An example of an ASIC might be a microchip designed exclusively for managing mobile phone, hardware chip only for audio and video signals encoding/decoding

ASICs are also being used for mining purposes, since the production process of microcircuits becomes much cheaper due to a strictly defined structure. There is also huge increase in performance and energy efficiency due to a narrow specialization of the chips.

Does our company sell ASIC miners?

Yes, we do. Contact us for further information.

What is the minimum number of ASIC miners that we can accept and place?

We place and install equipment with an energy consumption at least of 1MW and above.

Does our company provide the sale or exchange of Bitcoin or any other crypto currency?

No, we do not provide sale/exchange services of any crypto currency.