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Mining or putting bitcoin into circulation is a complex process involving computer systems across the world that maintain the blockchain ledger and verify transactions.
High-performance computers using the latest GPU (Graphics Processing Unit) processor technology and application-specific integrated circuit (ASIC) microprocessors are required for the fast calculations required in mining. One of the major manufacturers of these processing engines at NVIDIA, (NVDA) – Get a report
Often seen as a digital ‘gold rush’, the main draw for miners is the reward of receiving bitcoin for doing the required calculations before other miners.
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The Chinese government’s recent crackdown on bitcoin mining sends miners overseas with their equipment in tow. Many are said to be moving to Kazakhstan and the United States in search of cheap energy and other incentives.
The official Bitcoin protocol created by founder Satoshi Nakamoto states that bitcoin mining will end when the total number reaches 21 million. Since the mining rate is periodically reduced or halved, the final bitcoin will only be mined towards the
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