Is coin mining real?

However, it’s not profitable for most people as mining is a highly specialized industry. Most Bitcoin mining is done in large warehouses where there is cheap electricity. To be real: Most people should NOT mine bitcoins today .

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What is coin mining?

Mining is the process that Bitcoin and several other cryptocurrencies use to generate new coins and verify new transactions . It involves vast, decentralized networks of computers around the world that verify and secure blockchains – the virtual ledgers that document cryptocurrency transactions.

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How fast can you mine one Ethereum?

As of Thursday, February 17, 2022, it would take 98.1 days to mine 1 Ethereum at the current Ethereum difficulty level along with the mining hashrate and block reward; a Ethereum mining hashrate of 750.00 MH/s consuming 1,350.00 watts of power at $0.10 per kWh, and a block reward of 2 ETH.

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What is the most profitable thing to mine?

Bitcoin is the most profitable coin to mine currently , although not if you’re an individual miner, in most cases. Bitcoin mining is extremely competitive, requires specialized hardware in the form of ASIC (Application Specific Integrated Circuit) rigs, and requires cheap electricity in order to maximise earnings.

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