How to set up a bitcoin miner?

How To Setup A Bitcoin Miner?

How To Setup A Bitcoin Miner?

When setting up your miner, you have to take some things into consideration. First is the bitcoin mining hardware you are going to use, but your bitcoin mining software also has a role to play. Fortunately, bitcoin mining software are easy to download and also easy to use. Additionally, Bitcoin mining is also possible to do online alone, without ever having to download anything. Taking into consideration that profit is something that will guide you in your investment since you always want to see a positive result, you can always check and use a bitcoin miner app. This actually represents a bitcoin mining calculator with which you can calculate when your investment is going to start yielding fruits. Do not forget that you also need a bitcoin wallet before making any further steps.

Bitcoin miner hardware

So, the first thing you have to do is choose your bitcoin mining hardware. Before you make your final decision, though, take two things in consideration: hash rate and energy consumption. But everything boils down to two categories: for your bitcoin miner hardware, you can choose between a GPU and an ASIC. As you’ll see in the rest of this text, there is only one choice, really.

Graphical processing units or GPUs were first released in 2007 by NVIDIA. They have a parallel architecture consisting of thousands of cores designed for simultaneously handling multiple tasks. Although bitcoin mining with PC is not recommended, if you are mining for profit, by adding GPU you can improve the bitcoin hash rate of your personal computer.

Bitcoin Mining Hardware

Bitcoin Mining Hardware

In case you choose bitcoin mining with a PC, consider it as the least powerful way for achieving some bitcoin mining profit. A good thing about a GPU is that it gives you various options, not only for bitcoin mining but also for other cryptocurrencies, so it can solve both SHA and Scryptum. However, due to high difficulty, GPUs are very rarely used for Bitcoin mining – they are simply not powerful enough.

The best option for bitcoin mining hardware is, without any doubt, using Application Specific Integrated Circuits or ASICs. They are an expensive investment and also limited to mining via a single algorithm. Of course, with ASICs you can either mine solo or in a Bitcoin mining pool, but Bitcoin mining profit for solo miners is possible only if you have a room full of ASICs and no bills for electricity. That’s because the competition out there is really immense, plus the difficulty is high, as we have already said. Before any investment, use bitcoin miner calculator that allows you to put various parameters such as equipment cost, hash rate, electricity costs and the current bitcoin price that will show you how much time you will need to mine until your investment gets paid back.

If bitcoin miner app still shows no profit, there is always the option to use bitcoin cloud mining. In such a case, you rent hardware that is owned by a company. You sign a contract with them and pay the rent for the equipment. Therefore, with bitcoin cloud mining, there is no need for bitcoin mining software or for a bitcoin miner app. And since they provide all the bitcoin mining hardware you need, the only expense for you is to pay them a fee.

Bitcoin miner software

Once you have decided on which hardware you will operate, and if you’ll use something at all, you will need a bitcoin mining software. Fortunately, on most specialized web pages, the download can be executed with just one click. However, your bitcoin mining software will depend on whether you are using Windows, Mac, Linux or other. The best-known bitcoin mining software are BTC miner and CGminer. BTCMiner is a bitcoin mining software for ZTEX USB-FPGA modules. It has a dynamic frequency scaling, so it automatically chooses the frequency with the highest rate of valid hashes. It also include FPGA boards with a USB interface for programming and communicationm. Bitcoin mining software best to use if you joined a mining pool is CGMiner. Both of this bitcoin mining software is easy to download and to use. Also, they are completely free. As a free piece of software, CGminer can be used for either Windows or Linux. It has many characteristics, but the most important ones are fan speed control, using a remote interface, multi-GPU support, and CPU mining support.

Bitcoin Cloud Mining Principle

Bitcoin Cloud Mining Principle

In case you decided on using ASICs (and you definitely should if you’re serious about this), you can also get a bitcoin mining software that is delivered to your address together with the hardware. It works as the USB, so all you need to do is plug it in.

Conclusion

Now that you have all the information you were looking for and have hopefully settled for an ASIC, go to your preferred website depending on the platform you are using and initiate your bitcoin miner download. After taking this step, download a bitcoin miner app, so that you can calculate your profit immediately and more frequently in case you are not a user of bitcoin cloud mining. After downloading a bitcoin mining software, choose an option of solo mining or mining in the pool. We strongly advise you to join a bitcoin mining pool, as the fees in pools are shared according to your hash rate and the blockchain is made more frequently than with solo mining. Also, use a bitcoin miner app to gain more information on how to proceed with your mining endeavors. 

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Author: Ben Prescott
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