The Gold Rush of 1849 was all about one thing: chasing the dream of getting rich quick. Fast forward to 2021, and there’s another gold rush of sorts going on. But the difference is that this time, instead of being centered in San Francisco and northern California, the mining is taking place worldwide. And instead of nuggets of gold, miners are looking for nuggets of code—computer code called bitcoin is the prize here.
As you may imagine, the equipment is different for this type of mining. You won’t need a pickaxe or a sluicing pan—rather, you’ll need a crypto mining rig for bitcoin mining. Here’s more information on how to get started with bitcoin mining and what type of equipment you might need.
What is Bitcoin mining?
If a 49er from the Gold Rush were to be transported into modern times, he would have a hard time understanding the concept of bitcoin mining. But with a basic understanding of how computers and coding works, the idea is easier to understand for citizens of the modern era.
Crypto mining is basically using a computer, or multiple computers, to solve cryptographic equations. Once solved, those equations are recorded into a blockchain. But how does this result in receiving actual, spendable money?
Breaking things down a little further, by solving these equations, the computer is verifying hashes of unconfirmed blocks in the blockchain. For doing this, it receives a reward called bitcoin. Today, bitcoin has become widely adopted as a spendable currency, with more and more businesses from large corporations to small local retailers starting to accept it as currency for transactions every day.
Necessary equipment
The process of bitcoin mining takes a lot of computing power. Your average home PC isn’t going to cut it here—it would be like trying to mine for gold with a toothpick. A crypto mining rig is a customized PC with a recognizable CPU, motherboard, RAM and hard drive storage. Where it gets different is in the graphics cards. You will need a PC with many graphics processing units, or GPUs, to effectively mine for bitcoin.
The motherboard is one of the more important components of a crypto mining rig. One powerful example is the Asus b250 Mining Expert, which has the ability to hold 19 graphics cards at once. You’ll also need PCI-e risers for each graphics card, and possibly multiple power supply units, among other pieces of specialized gear.
Hire a professional
It’s not going to be cheap to put together a crypto mining rig, but if you’re going to mine for cryptocurrency on a serious level, it’s absolutely necessary. Since the components can get quite expensive, it’s best to let a professional company take this on for you.
While the equipment may be different from what it was in 1849, the desire to strike it rich by mining is very much alive in 2021. To get started on making the modern crypto mining rig of your dreams, reach out to the experts at GeekForce.biz today.