Are You Wondering- HOW Do YOU Start Mining Bitcoin?
Unless you have been living under a rock without internet access for the last several years, chances are good you have probably heard about Bitcoin at some point. When it comes to obtaining Bitcoin, there are several ways you can go about obtaining your share of the 21 million Bitcoins which will ever be created/mined…or at least get your fractions of Bitcoin known as satoshis/sats (named after pseudonymous creator of Bitcoin, Satoshi Nakamoto).
One obvious way many people may obtain bitcoin is to simply buy it through an exchange like Coinbase, Kraken, BlockFi, ftx, Gemini, or one of the many other cryptocurrency exchanges which are in existence today. Of course, you could also have bitcoin (or satoshis) sent to your bitcoin wallet by a peer if you are lucky enough to find a friend who will send bitcoin. Heck, if you own a business you can even take payments with bitcoin and other crypto and you can get yourself bitcoin that way.
Or-if you’re really an innovative thinker who wants to help build the financial system of the future, you could be one of the pioneering game-changers who are helping to change the world, secure the bitcoin blockchain, validate transactions, find new blocks solving trillions of complex hexadecimal equations, and creating/”mining” new bitcoin in the process.
You, yes you, can become a bitcoin miner today. Does that sound like something you want to do? Do you want to learn how to mine bitcoin?
Really, though, are you wondering how you can start mining bitcoin in 2021 and wondering is it too late to get started mining bitcoin? It’s definitely never too late to start mining bitcoin, because it’s estimated the final bitcoin will not be mined until sometime in the 2140’s, so you’re still relatively early to the bitcoin mining game in the big scheme of things, and you’re getting started at a perfect time if you’re getting started mining bitcoin today.
Read on to learn more about how you can start mining bitcoin now, because- whether you’re an individual with 1 crypto mining rig or you’re a large corporation looking to invest millions into bitcoin mining- the same principles apply for all miners.
Many people feel that mining bitcoin is one of the most rewarding and exciting things they have ever decided to do. Will you soon feel this way also?
You might be wanting to get started mining bitcoin now, and you might be very glad you found this article, especially after you make the decision to start mining bitcoin alone or with a professional company like MinedPool.
No matter what, after you finish reading the information in this blog post, you will be ready to mine bitcoin like a professional and you will know everything every wanted to know about how to get started with mining bitcoin in 2021.
So, let’s say you have decided that you want to start mining bitcoin…but you have no idea where to start or what to do. Well, you’re definitely in luck because we all started as newbies at some point, right, so you definitely came to the right place by choosing to learn about bitcoin from MinedPool Technologies because we are committed to helping anyone and everyone to mine bitcoin.
One very important thing to note from the beginning for all prospective bitcoin miners out there is that ASIC Bitcoin Mining Rigs are extremely loud, and frankly even one unit running will sound like a very loud vacuum 24/7, and they generate a lot of heat as well, plus they take immense amounts of power to run properly and are not easily ran at home. if you have even 1 ASIC mining machine, you probably are best off if you host it at a professional mining facility, but-if you have multiple rigs-you will have the equivalent in terms of noise and heat to roughly that of a jet engine, i.e. you will have no option but to host your rigs at a professional mining facility/data center.
Even if you’re really passionate about bitcoin and bitcoin mining, and even if you really feel strongly about doing your part to help secure the bitcoin blockchain network, you really should not run ASIC Bitcion Mining Machines at home unless you want literal and figurative headaches 24/7, constant work, potential fire hazards if not handled properly, and-to be honest-most professional miners would tell you it’s best to just own your mining rigs and leave the operations to specialists who have facilities with heavy power, security, cooling, internet, power, and infrastructure, all specifically built for mining bitcoin.
Unless you want a hot, loud home or warehouse/office building, and angry neighbors constantly filing noise complaints in cities, and unless you are okay with crazy high energy bills, then you probably are best off just owning a mining rig and leaving the mining facility, miner maintenance, setup, crypto mining, and related-work itself to the professionals. if you aren’t able to be watching your ASIC bitcoin mining rigs 24/7/365, then the wise choice is to host the machines at a professional bitcoin mining colocation/hosting facility which does have staff that can monitor your machines continuously for you. This sort of service is called bitcoin mining rig hosting and colocation, and-while there are other companies that also provide a similar sort of service-this is a proprietary specialty of MinedPool and we absolutely think MinedPool Technologies is the best in the world and we can’t wait for you to join us and give us a chance to show you why this is absolutely the case.
At MinedPool Technologies, our team has been involved in bitcoin mining for quite a long period of time. Now, we operate our own bitcoin mining pool and also host bitcoin mining rigs for other miners at our facilities-so it’s safe to say we’re experts in the field and we’re dedicated to helping you succeed as a bitcoin miner beyond your wildest dreams. But it’s not like MinedPool is alone in the world of Bitcoin, as there are millions of individual mining rigs being ran across the world as we speak. some people have 1 or 2 mining rigs running in a house somewhere, some companies have more than 100,000 ASIC bitcoin mining rigs, and there is a huge mix of everything in between. The point is this: anyone really can start mining bitcoin in 2021, and all you have to do is learn a bit about the basics of bitcoin mining to get started with having one of the most exciting and potentially rewarding passive income sources available in our world today.
Now, since we’re all excited about bitcoin mining here, are you ready to find out the answers to your question of: “How do I start mining bitcoin in 2021?”
Let’s do this!
What To Do To Start Mining Bitcoin In 2021
Get an ASIC Bitcoin Mining Machine (and ethernet cables/power units, if not already provided with your miner):
The first and most important step to take if you want to mine bitcoin is you must purchase 1 (or more) ASIC bitcoin mining computers, aka application-specific-integrated circuit bitcoin mining rigs, because these are the only computers in the world which can mine bitcoin using the SHA-256 algorithm. Unfortunately, when it comes to mining bitcoin, you can’t mine with your desktop, laptop, or GPU mining rig, and nowadays, if you want to mine bitcoin, you must get an ASIC mining machine specifically made for the sole purpose of mining bitcoin. If you need help purchasing a new or used ASIC bitcoin mining rig, or many mining rigs, at fair prices, it is best to use trusted suppliers like MinedPool when possible. Of course, you can also attempt to source your bitcoin mining rig(s) alone via the internet-but buyer beware on some sites, especially lesser known international sites, and it’s typically wise to exercise an extra bit of caution if you are buying used mining rigs which appear to have had damage in the past and/or if the listing details you find online seem sketchy or too good to be true.
While obtaining ASIC bitcoin mining computers is not as easy as it could be, there is no choice but to obtain one of these rigs if you want to get in the bitcoin mining game because the days of being able to mine bitcoin on your laptop are long gone, and that’s just how it is. When it comes to buying your bitcoin mining rig, there are many different manufacturers to choose from, however the most popular model for most miners over the last few years has been the Bitmain Antminer. Some popular models of the Bitmain Antminer which you can use in 2021 to mine bitcoin successfully are the Bitmain Antminer S9, T17, and Bitmain Antminer s19. Other ASIC bitcoin mining rigs besides Bitmain Antminers include Innosilicon and Microbt WhatsMiners and others, but Bitmain is certainly the market leader currently in terms of overall sales, market share, and notoriety.
mining rig hosting/colocation or mining at your place. Again, as we noted earlier in this article, it is very important to consider your environment when you are picking a location for your ASIC bitcoin mining rig. So-If you’re not hosting your mining rig at a professional bitcoin mining facility like the ones operated by MinedPool- just be aware that ASIC bitcoin miners are extremely loud and hot, as in louder than a loud vacuum type-loud and hotter than your heater’s highest setting type-hot, and they also frequently need cleaning and maintenance to continue running optimally, plus each mining rig alone consumes massive amounts of power so you may need to invest in power upgrades or electrical work which can be extremely expensive and time-consuming. Also, if you’re running your machine at home or at your own warehouse/office, you need to decide not only which building/room your mining rigs will be in, but you must position your rigs in the optimal position to help maximize their hash rate and efficiency. If you’re not able to cool the room down at all or to at least divert heat somehow, and if you don’t have heavy amounts of power, you could start having troubles and start seeing mining rigs failing from overheating due to ambient heat and/or triggering circuit breakers and not shutting down or running properly, then risking permanent damage and even fire hazards, because it is not uncommon for ASIC bitcoin mining rigs to easily heat unventilated and poorly cooled rooms to well over 100 degrees fahrenheit when running, especially as you start building up from more than 1 bitcoin mining rig. No matter whether you choose mining rig hosting/colocation or you decide to mine bitcoin alone, you must have your rigs running in a location that is suitable for bitcoin mining for safety and success.Choose a suitable location for your mining rig. Decide between
Connect your mining rig’s wires from the psu (power supply unit) to the computer/mining rig itself, and then connect to your router/modem or to an ethernet switch (i.e. connect your miner to the internet) via ethernet cables, and plug your mining rig in to the appropriate power outlets. It is very important for you to know that nearly all ASIC bitcoin mining rigs have to be “Hard-Wired” to the internet via ethernet cables because none of them currently support wireless/wifi connectivity, so just be sure to plan accordingly and purchase ethernet cables that will get the job done because most mining rigs will not come with any ethernet cables despite the fact you need these to start mining. Also, as has been noted previously, if you’re not mining at a professional facility you need to be sure you have appropriate power at your location to run your mining rig(s). Now, at this point, once you have your cords and power situation taken care, and after plugging everything in, you should hear your ASIC bitcoin miner starting to fire up and should see some lights starting to blink. After plugging your machine in and connecting to the internet, monitor the lights on your ASIC mining rig for a while until you are certain that everything is working properly. For example, on a Bitmain Antminer s9, once you are properly connected to a mining pool and have your mining rig running/”hashing” properly, you will see a total of 3 red lights atop your machine at the hashing boards with 1 red light on each hashing board that works, and on the front of the machine you may see the red “fault” light blink while your machine is booting up. After the standard mining rig warm-up period of 5-10 minutes, then, so long as there are not any true machine faults, this red fault light will switch to green once your miner is warmed up and ready to begin hashing at full speed.
Minedpool Technologies Mining Pool, and ensure your device is set-up correctly and properly connected to your mining pool (or let the on-site staff take care of all set-up if you’re a member of a managed/hosted mining pool service like what is offered by MinedPool.)Once it is clear your mining rig will be able to run, choose a bitcoin mining pool, like the
Start mining bitcoin, get your bitcoin mining rewards sent to your crypto wallet when you want, and start making money $$$! Now that you have your mining rig set properly and you are part of a bitcoin mining pool, you’re officially a bitcoin miner and can start collecting bitcoin rewards for your hard work. One thing to be aware of at this point is that transfer fees are still a factor to consider when having your bitcoin mining rewards sent to you, which is why it’s often best to have a fairly significant amount of bitcoin accrued before you have funds transferred to your personal wallet. Most all mining pools are secure and hold their bitcoin in cold storage or in other secure crypto wallets, so you don’t have to worry about your funds going anywhere in between when you earn them and when they are transferred. For reference, most pools ask for users to obtain around .01btc or more before transferring, however some will allow smaller transfers and will then assess additional transfer/transaction fees.
It’s truly that simple. That’s it- 5 simple steps, then you’re mining bitcoin!
If you still want to start mining bitcoin, but want to mine on your own instead and don’t want to host your mining rig at a facility, there are many other mining pool options you can choose from and all have different structures and fees. Some other common mining pools which users may choose to join if they are not mining with MinedPool may include Slushpool, Viabtc, Antpool, Poolin, Emcd pool, btc.com pool, Binance pool, Rawpool, F2pool, and others. While many these pools mentioned are known to be among the more reputable mining pools besides MinedPool, it is important to note that most of these pools are not based in the USA, while MinedPool is based in the USA and has to typically adhere to stricter regulations and standards than many international pools. Regardless, when preparing to mine bitcoin, you want to ensure you find a situation that best fits your goals and needs so that you can create the best scenario for yourself/your company based upon your bitcoin mining goals. Each mining pool will have different pros and cons.
If you want to mine bitcoin, but simply don’t want to invest the amount needed to purchase your own ASIC bitcoin mining rig right now, is it still possible to participate at all in bitcoin mining? You bet! With MinedPool Cloud Bitcoin Mining Contracts, you can purchase a small amount of “hash rate/computing power” from mining rigs in our facilities and then get a commensurate amount of bitcoin rewards. While this is a less common method of mining bitcoin as opposed to buying your own asic bitcoin mining rigs and running them at a professional bitcoin mining facility, it is still a great option for beginning miners or for miners looking to increase their hash rate and bitcoin earning potential with a passive income stream which does not require any work or maintenance whatsoever.
No matter your preferences, you should be even more excited about mining bitcoin now than you were before you read this article, because it’s 100% clear that there are options to suit every need when it comes to mining bitcoin in 2021. Whether you choose to mine bitcoin with the MinedPool bitcoin mining pool or you choose to mine with another pool, the most important thing when it comes to mining bitcoin is to understand what you are doing and to trust the pool you run your ASIC bitcoin mining machines with.
While nobody can say for sure whether or not bitcoin will be the future of finance, and nobody knows if bitcoin and/or other cryptocurrencies will simply complement our current monetary system or simply replace fiat money as we know it, what can be said for sure is that there are quite a few individuals and companies working to build the security and increase the adoption of bitcoin via bitcoin mining. What also can be said without a hint of doubt is that bitcoin mining, while it may seem exclusive, is more accessible to the average person now in 2021 than it has ever been in the past-but tides are changing quickly and it is getting harder and harder to compete with large-scale miners by the day. So, if you want to get started mining bitcoin, you should do so today and start earning yourself some bitcoin (or at least earning some satoshis to start). You never know, you might love it and might make a career out of it at the same time.
If you liked this article, please stay tuned to our blog constantly because we’re hoping to become one of the best sources in the world when it comes to bitcoin mining, bitcoin, and crypto news in general. Also, if you were kind enough to click one of our links to learn more about our mining pool, we could earn a few sats from something if you purchase-and thank you very much. If you’re going to start mining bitcoin with another mining pool, it’s a super exciting time for you and we can’t wait to see you succeed because the network needs decentralization in order to remain secure so it’s not a true bitcoin miner’s goal to ever try to control all of the bitcoin mining being done anyway. We want people to make the choice that works best for them when it comes to bitcoin mining, and it’s easier than ever to do that now that you know everything you need to know about how to get started with bitcoin mining in 2021.
Like the saying goes, “there’s no time like the present.” When it comes to mining bitcoin, there’s no better time than right now to get started. You don’t want the whales to swallow up all of the bitcoin supply, do you? Then start mining Bitcoin with MinedPool today!