It's our 19th anniversary!

How to mine bitcoins?

The process of creating bitcoins is called mining. Computers in different parts of the world connect to each other through a network and solve complex mathematical problems, after which they receive bitcoins, distributed to each machine in proportion to the effort expended by it. When Bitcoin first appeared, it was possible to mine it on an ordinary home computer, but as it became more popular, more and more processing power was needed, and today, bitcoin mining is no longer available to the average user.

With cryptocurrency "farms" (a large set of computers that perform calculations 24/7/365), entire buildings have been set aside for devices that are only able to solve cryptographic problems (i.e. they are produced exclusively for mining). Due to fierce competition, it has become significantly more difficult to produce new bitcoins, and the level of remuneration is so small, that the only winners are those able to work on the market on an industrial scale.

It's also vital to remember that the number of bitcoins that can be released is limited by the program's own algorithm. There will only ever be 21,000,000 bitcoins produced, after which mining will come to an end.

Did you find the information you were looking for?

Back to top