What is Bitcoin mining?
Bitcoin mining is a process where transaction records are digitally added to the Blockchain. It is also known as the cryptomine process, which runs using a lot of computing power. Each Bitcoin miner contributes to a decentralized P2P (Peer-to-Peer) network to ensure that the payment network is secure and credible.
The blockchain network is a decentralized P2P network that contains a shared ledger. The network has no central authority, so transactions are recorded, processed, and validated on the miner's network. Data shared over the network is completely transparent. However, sensitive and personal data relating to the identity of members is always anonymous.
Here miners need to validate transaction blocks to access their locked rewards. A new BTC is introduced to the network when a new block of transactions is added to the system.
Bitcoin mining hardware are highly specialized and powerful computers used to mine cryptocurrencies like Bitcoin. The Bitcoin mining hardware industry has now become more complex and competitive. Bitcoin was originally coded to be mined by the power of the CPU, not the GPU.
Later, Bitcoin developers decided to take advantage of the increased hashing power of GPUs to mine Bitcoin. Today, all standard Bitcoin mining companies consist of bitcoin mining hardware. Otherwise, it is never profitable. You can choose the Bitcoin mining hardware according to your needs and mining capacity.
The following is a selected list of legitimate Bitcoin mining hardware that is highly reliable and most profitable. The Bitcoin miners featured in this guide follow the safest cryptocurrency practice to ensure your cryptocurrency stays safe.
Recently at the Bitcoin 2022 conference, the MicroBT company announced the launch of the Whatsminer M50s, a new Bitcoin mining equipment that is among the most efficient on the market.
The Bitcoin 2022 conference has already started making its first announcements and launches, launching today in the city of Miami, USA, and Bitcoin mining is a part of that.
In the morning hours, Jordan Chen, Chief Operating Officer of the MicroBT company, showed through a presentation video the new miners of the Whatsminer M50 series, including the new miners M50s, M50 and M53. This latest miner has a new liquid cooling system.
M50s, the flagship of the series, has a processing power of 126 terahashes per second (TH/s) and a power efficiency of 26 joules per terahash. (J/J). In addition, it works with 3276W of power.
Compared to the S19 XP, Bitmain's most advanced model, which reaches 140 TH/s and consumes 3276W, with an efficiency ratio of 126TH/s, the M50S enters the discussion of better efficiency.
Whatsminer M50s, with less computing power (114 TH/s), has an efficiency of 29 J/T, while the M53 stands out for its water cooling system and a huge computing power: 126TH/s.
The overall focus of this MicroBT release is to make miners more efficient and carbon neutral, Jordan Chen said at the conference.They would achieve this thanks to a 5 nanometer (nm) microprocessor supplied by the well-known manufacturer of electronic devices Samsung. This chip is 15% more efficient than the chips in previous MicroBT models.
Conclusion
Bitcoin mining is an energy-intensive process in which custom mining systems compete to solve mathematical puzzles. The miner who solves the puzzle first is rewarded with bitcoin. The Bitcoin mining process also confirms transactions on the cryptocurrency network and makes them credible.
