There are three main categories of bitcoin mining hardware, each more expensive and more powerful than the last. This guide to setting up a minerit bitcoin mining miner explains each of them, and talks about how to make them work.

By this stage, you will understand how bitcoin works, and what mining means. But we need to get from theory to practice. How can you set up a bitcoin mining hardware and start generating some digital cash? Hash rate This is the number of calculations that your hardware can perform every second as it tries to crack the mathematical problem we described in our mining section.

Use these two factors to work out how many hashes you’re getting for every watt of electricity that you use. To do this, divide the hash count by the number of watts. 400 watts of power, then you’re getting 1. You can check your power bill or use an electricity price calculator online to find out how much that means in hard cash. In some cases, you’ll be using your computer to run the mining hardware. Your computer has its own electricity draw on top of the mining hardware, and you’ll need to factor that into your calculation. Bitcoin Mining Hardware There are three main hardware categories for bitcoin miners: GPUs, FPGAs, and ASICs.