What is bitcoin mining?

Bitcoin mining is the process by which new bitcoins are entered into circulation. It is also the way the network confirms new transactions and is a critical component of the blockchain ledger's maintenance and development. "Mining" is performed using sophisticated hardware that solves an extremely complex computational math problem.

Is bitcoin mining legal in China?

Bitcoin mining is legal in most regions, including the US and Europe. In China the legal status of bitcoin mining is currently in a gray zone. Is bitcoin mining profitable? Bitcoin mining is a highly competitive industry with narrow profit margins.

Where can I buy a bitcoin ASIC?

You can also check out ASICs available on Amazon and eBay. There are two ways that you can start Bitcoin mining. One is to start by yourself, which is called solo mining. Another way is to join a group of other Bitcoin miners - these are called mining pools.

Can you run a bitcoin miner on a mobile device?

Running a miner on a mobile device, even if it is part of a mining pool, will likely result in no earnings. Bitcoin "mining" serves a crucial function to validate and confirm new transactions to the blockchain and to prevent double-spending by bad actors. It is also the way that new bitcoins are introduced into the system.