Cryptomining 101How to make the most of the cryptocurrency opportunity
With recent estimates putting annual revenues from bitcoin mining at over $3 billion, getting involved in cryptocurrency mining is a lucrative opportunity for those willing to do the research and invest in the right hardware.
Miners at every scale can see profitable returns from mining cryptocurrencies – such as Bitcoin, Ethereum, and Ripple – but, much like the stock market, success relies on knowing where and how to focus your efforts.
Even at the smallest scale, miners can see return on investment within 3-6 months, depending on the type of cryptocurrency they opt to mine, the hardware they invest in and how they choose to manage it. Introduction.
In this paper, we’ll explore the basics of cryptocurrency, and explain the role of miners in supporting the blockchain. In the subsequent sections, we’ll give you a simple rundown on what you need to get started with cryptocurrency mining, and how putting your hardware in a data centre (colocation) can help you see better returns on your mining investment.