When the whole Bitcoin craze started quite a few years ago, it was easy to mine the coin with an average gaming computer. Now that the cryptocurrency’s rate has skyrocketed, you can no longer stay within the competition on a simple computer. You need special mining gear.
For those who actually want to know what mining is, it’s a process of contributing processing power to the Bitcoin blockchain ledger. In other words, miners help verifying the Bitcoin transactions on the network and occasionally get rewarded for that.
Most beginners will find that the only viable way to join Bitcoin mining is to become part of a mining pool. Nevertheless there are still purists out there who want to fly solo. Whichever way it is, you will need serious gear for that.
The widely accepted hardware solution for that is specialised ASIC mining hardware such as Antminer. There are several models available and it’s easy for a beginner to make a mistake. For example, the Antminer L3 is a Litecoin miner – it’s not compatible to Bitcoin. For this purpose you will need AntMiner S9.
The estimated BTC earned per month on a machine like S9 is 0.36 or £2,500 at the current rate. That is, however, just the potential earning and not guaranteed. And you may end up spending a lot of money on your electricity bill because this beast consumes a lot of energy… and its fan sounds like a hoover, so it’s not suitable for bedroom… or any other room in your house for that matter.