What exactly is Bitcoin, and how does "mining" work? Why is it consuming so much power?

What exactly is bitcoin mining? Why does it use so much energy?

Why is bitcoin mining so energy-intensive?

Mining in the real world necessitates the use of large machinery such as excavators1080 ti mining and drilling rigs, whereas mining in the virtual world necessitates the use of computers to calculate bitcoins. Mining in the virtual world refers to the use of a computer to calculate bitcoins. It's reasonable to assume that computers don't use a lot of power, so why is bitcoin mining so expensive?

True, when Bitcoin was first created, its creator Satoshi Nakamoto created 50 Bitcoins on a single home computer, so the amount of electricity consumed was understandably low.

However, as more people flock to the Bitcoin market, mining has become increasingly antminer s19 wattsdifficult. This has to do with Bitcoin's issuance model. So, how do bitcoins get created?

To begin with, when Bitcoin mining was first introduced, it was limited to a total of 21 million reserves distributed across various mining areas. Miners were initially rewarded with 50 bitcoins for each mine discovered. However, the reward is halved for every 210,000 "mining zones" created.

To put it simply, we could mine a bitcoin for one day on one computer, but it gradually increased to two days on two computers and four days on four computers. The difficulty of mining increases exponentially, as does the amount of electricity required to be consumed. This process will continue until all 21 million bitcoins are issued in 2140. With only 13 years since Bitcoin's inception and so much electricity consumed, you can imagine what a bottomless pit the Bitcoin market will be in the future.

Because of this mechanism, the only way to outperform others as a miner is to purchase more and faster mining machines in order to get ahead of others and mine more bitcoins.

The first generation of mining machines, home computers, were obviously antminer s19 for saleno longer capable of meeting the demands of mining, so miners' production tools were constantly innovating, beginning with CPU computing, progressing to GPU computing, and finally to specialized mining machines. Mining machines are outfitted with specialized "mining crystals," which typically operate by burning graphics cards and chips.

This process not only consumes power from the hard disk's operation, but it also generates heat, which can cause the entire mine to shut down (die). As a result, this includes the power used by the power supply fan and the case fan. Currently, the operation of a single mining machine consumes about 35 degrees of electricity, and the power consumption of a mining farm in a day can even meet an average person's lifetime electricity needs.

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