The History of Cryptocurrency Mining

Cryptocurrency mining began with the launch of Bitcoin in 2009. In the early days of Bitcoin, mining was done by individuals using their personal computers to validate transactions and secure the network. However, as the network grew and the difficulty of mining increased, the need for specialized equipment became apparent. This led to the development of ASICs.

Asics vs. GPUs & CPUs

ASICs, or Application-specific Additive Additives, are specialized chips designed to perform a specific task. In the cryptocurrency world, ASICs have become increasingly popular as a means of mining digital currencies, as they offer improved performance and efficiency compared to GPUs (graphics cards) and CPUs (computer processors).

ASICs are designed specifically for cryptocurrency mining and can perform the complex calculations required for mining much faster and more efficiently than GPUs and CPUs. This results in a higher hash rate, or the rate at which the ASIC can solve the complex mathematical problems required to validate transactions on a cryptocurrency network and earn rewards.

ASICs are designed to operate 24/7 in a controlled environment and are much less likely to experience hardware failures than GPUs and CPUs, ASICs are much more expensive than GPUs and CPUs and require a substantial investment for individuals or businesses looking to get into cryptocurrency mining.

ASICs are designed for a specific task, they make only one algorithm, for bitcoin it is SHA-256, which makes them less versatile than GPUs and CPUs. Cryptocurrency mining has evolved significantly since Bitcoin's early days. The development of ASICs and the growth of large mining operations have changed the mining landscape. Cryptocurrency mining remains an important component of many cryptocurrency networks and a potential source of passive income for individuals and businesses.

A mining farm

A mining farm is a set of Asics or Rigs that work together to mine cryptocurrency. Asics are the computers that verify transactions on the blockchain and can also be used to mine new coins.

Cryptocurrency mining farms consume a considerable amount of electricity to power the Asics or Rigs that perform the calculations necessary for mining. However, this energy consumption can lead to high costs and environmental impact if the energy is produced from non-renewable sources.

Efficient electrical management can minimize costs and environmental impact while allowing the mining farm to operate optimally. It is important to monitor energy consumption in real-time, use energy optimization technologies and energy-efficient equipment, and explore the use of renewable energy sources.

The use of renewable energy sources can not only reduce the environmental impact, but also provide long-term economic benefits by reducing electricity costs. Effective electrical management and optimization is crucial to ensure the profitability and sustainability of a cryptocurrency mining farm.

The cost of electricity is not negligible, especially if you operate a mining farm. While some miners consider the cost of electricity to be negligible compared to their profits, others find that it takes away from their bottom line.

To calculate your electricity costs, you need to know how much power your ASICs use per hour (in watts) and how many hours they run per day. You can find this information on the product page of each ASIC at Mining Delta

For example: An Antminer S19J uses 2950W/h when operating at full capacity; a Goldshell KD-BOX PRO uses 230W/h when operating at full capacity; and so on*.

You'll also need an estimate of how many days per year your machines will run continuously (e.g., 365 days). If there is downtime due to maintenance or repairs, this number should also include those days.

Green mining

The mining farm uses clean green electricity, produced from renewable sources such as the sun, wind, water and biomass. It does not emit greenhouse gases or toxic substances, making it more environmentally friendly than traditional energy sources such as coal, natural gas, and oil.

The increasing use of green electricity in mining farms is helping to reduce greenhouse gas emissions and improve air quality. This can also lead to significant savings in energy costs, which is why mining farms are equipped, the costs of renewable energy tend to decrease over time.

Ultimate Cooling of a Mining Farm

Immersion cooling is a cooling method used in data centers to cool IT equipment. In this method, computer equipment is immersed in a fluid (oil specially made for electronic components) that transfers the heat produced by the electronic components to an external cooling system.

Immersion cooling offers many advantages over traditional cooling methods such as fan removal and heat sinks. First, it allows electronic components to be cooled more efficiently, which can increase their lifespan and performance. Plus, it's quieter and requires less space than traditional cooling methods. They can be increased the hashrate power of your asics by increasing the frequency of the cores of the asics chips.

Immersion cooling is especially useful in cryptocurrency mining farms, where Asics generate a considerable amount of heat. By immersing the Asics in a fluid, immersion cooling effectively cools the Asics to perform optimally.

Choosing your Mining Pool

The first step in mining any cryptocurrency is to choose its mining pool. A mining pool is a group of miners who combine their computing power and share the mined cryptocurrencies. The advantage of a mining pool is that it guarantees you a certain amount of cryptocurrency for your investment in hardware and electricity. This can lead to lower returns on investment if you mine alone.

There are several mining pools, the most well-known of which are F2POOL, 2MINERS, HIVEON Pool. Hiveon is one of the most prominent players in the market and Hiveon was ranked second in terms of hashrate among RVN pools 2 days after launch, according to the rate of miningpoolstats. Currently, the pool has 10.2,000 active users and its hashrate is 3.2 TH/s. The Ethereum Classic pool has acquired 16,500 active members, and its hashrate is now 10.3 TH/s.

The Hiveon pool covers 50% of obsolete shares, among other solutions that are beneficial to users. It's a brilliant choice for miners whose mining rigs are connected to the internet via Wi-Fi. The PPS+ reward distribution system provides miners with stable income. As soon as your mining farm becomes large, it's hard to juggle its multiple pool, which is why Hiveon OS is a mining management platform for cryptocurrency mining. It is the most popular cryptocurrency mining operating system used by tons of people around the world. It allows miners to manage and monitor their mining rigs (ASICs, GPU rigs) from a single, centralized interface, making it easy to monitor hash rates, temperatures, miners, and other vital statistics; Restart, reset, or update miners directly. Integration into the Hiveon operating system allows convenient extraction into the pool and management of devices via the Hiveon operating system. The platform supports many popular cryptocurrencies. (If you want to use HiveON as a mining POOL, we can refer you with this link: HiveON POOL is receiving $10 in your HiveON account).

Conclusion

In conclusion, cryptocurrency mining in a mining farm is a complex process that involves reducing electricity costs, especially with green electricity (photovoltaic installation, hydroelectric dam, geothermal energy), cooling mining installations (Asics, Rigs) with the ultimate solution of immersion cooling. To achieve better profitability, this is why mining farms are the most environmentally friendly companies in the world.