In order to become a key player in Bitcoin mining, a substantial amount of space and computer equipment is needed, along with maintenance such as air conditioning for the equipment, a large energy source and a stable internet connection. The scaling up of Bitcoin mining has been rapid and as a result has created concerns regarding the power required to maintain operations. In fact, energy consumption during the mining of the currency has been steadily building to a record-breaking peak in January , following a decrease in July The increasing environmental cost of Bitcoin mining presents a new layer of considerations for those looking to source mine locations, such as how sustainable is this location and how ethical will this operation be?
Growing concerns around vast energy consumption have led to Bitcoin mining being banned from many countries that were considered to be welcoming environments for the activity, meaning that the hotspots are in a constant state of flux. Many countries have decided to not just ban Bitcoin mining but outlaw cryptocurrency altogether, including Algeria, Bangladesh, Egypt, Iraq, Morocco, Oman, Qatar, Tunisia and, most notably, China. When China banned cryptocurrency in September , the global hashrate — the level of computing power contributed to a network through Bitcoin mining — and the Bitcoin mining map shifted significantly.
Since China banned crypto, the US has quickly become the global leader for Bitcoin mining and the number one ranking country with regards to the hashrate. For example, Texas has a deregulated power grid with spot pricing that allows for agility when choosing and changing energy providers. This means Bitcoin miners are offered a great degree of flexibility when it comes to the only real variable in crypto mining — energy consumption costs. In the US this tends to be regions such as the Pacific Northwest, where renewables such as hydroelectricity are the dominant components in the generation mix.
The widespread availability of renewables in the US means that Bitcoin mining is less controversial there when compared with countries that have been slower to embrace greener energy. Up until August , Kazakhstan sat in second place globally as a Bitcoin mining hotspot, but now the country's future as a crypto mining hub looks uncertain following the aforementioned January riots. The large expanses of space, low energy costs and favourable climate in Kazakhstan made an attractive offering for Bitcoin miners.
However, following the internet shutdowns and power outages at the beginning of the year, its appeal may be wavering. Many experts expect that the Cambridge Bitcoin Electricity Consumption Index — due to be published in March — will reveal that Kazakhstan has lost its spot as the world's second-largest Bitcoin mining location. The third-largest Bitcoin mining location documented is Russia.
On 18 February , the Russian Ministry of Finance introduced a cryptocurrencies bill that would see specific Bitcoin regulations introduced, and crypto payments still prohibited. This stance is in direct conflict with the Bank of Russia, however, which is calling for a complete cryptocurrency ban. The bill proposed that cryptocurrencies be seen as an investment tool rather than legal tender, meaning they cannot be used as a payment method.
The bill, if passed, would also initiate requirements for all crypto exchanges to be monitored and evaluated, as well as licensed and registered through the government. Such calls from governments for cryptocurrencies to improve their levels of visibility and transparency are becoming more and more frequent, and the countries making such demands could see their appeal as a Bitcoin mining hotspot dented.
Bitcoin mining hubs are continuing to adapt and change as countries develop differing approaches to regulating and facilitating the cryptocurrency and its mining. These include the cost of electricity to power the mining machines, the availability and price of machines, and mining difficulty. Difficulty is measured in the hashes per second of the Bitcoin validation transaction. The hash rate measures the rate of solving the problem—the difficulty changes as more miners enter because the network is designed to produce a certain number of bitcoins every 10 minutes.
When more miners enter the market, the difficulty increases to ensure that the number of bitcoins produced remains the same. The last factor for determining profitability is the price of bitcoins as compared to that of standard, hard currency. Prior to the advent of new Bitcoin mining software in , mining was generally carried out on personal computers. But the introduction of application-specific integrated circuit ASIC chips offered up to billion times the capability of older personal machines, rendering the use of personal computing to mine bitcoins inefficient and obsolete.
Though Bitcoin mining is still theoretically possible with older hardware, there is little question that it is not a profitable venture. This is because of the way that mining is set up: Miners are competing to solve hash problems as quickly as possible, so those miners at a serious computational disadvantage essentially stand no chance of solving a problem first and being rewarded with bitcoins.
When miners used the old machines, the difficulty in mining bitcoins was roughly in line with the price of bitcoins. But with these new machines came issues related to both the high cost to obtain and run the new equipment their lack of availability. Old-timers say, way back in mining bitcoins using just their personal computers were able to make a profit for several reasons.
First, these miners already owned their systems, so equipment costs were effectively nil. They could change the settings on their computers to run more efficiently with less stress. Second, these were the days before professional Bitcoin mining centers with massive computing power entered the game. Early miners only had to compete with other individual miners on home computer systems.
The competition was on even footing. Even when electricity costs varied based on geographic region, the difference was not enough to deter individuals from mining. After ASICs came into play, the game changed. Individuals were now competing against powerful mining rigs that had more computing power. Mining profits were getting chipped away by expenses like purchasing new computing equipment, paying higher energy costs for running the new equipment, and the continued difficulty of mining.
As discussed above, the difficulty rate associated with mining Bitcoin is variable and changes roughly every two weeks in order to maintain a stable production of verified blocks for the blockchain and in turn, bitcoins introduced into circulation. The higher the difficulty rate, the less likely it is that an individual miner can successfully solve the hash problem and earn bitcoins.
In recent years, the mining difficulty rate has skyrocketed. When Bitcoin was first launched, the difficulty was 1. As of November , it is more than 22 trillion. This provides an idea of just how many times more difficult it is to mine for Bitcoin now than it was a decade ago. The Bitcoin network will be capped at 21 million total bitcoins. This has been a key stipulation of the entire ecosystem since it was founded, and the limit is in place to attempt to control the supply of the cryptocurrency.
Currently, over 18 million bitcoins have been mined. As a way of controlling the introduction of new bitcoins into circulation, the network protocol halves the number of bitcoins awarded to miners for successfully completing a block about every four years. Initially, the number of bitcoins a miner received was In , this number was halved and the reward became In , it halved again to In May , the reward halved once again to 6. Prospective miners should be aware that the reward size will continue to decrease in the future, even as the difficulty is liable to increase.
El Salvador made Bitcoin legal tender on June 9, It is the first country to do so. The cryptocurrency can be used for any transaction where the business can accept it. The U. Bitcoin mining can still make sense and be profitable for some individuals. In an effort to stay competitive, some machines have adapted. For example, some hardware allows users to alter settings to lower energy requirements, thus lowering overall costs.
Prospective miners should perform a cost-benefit analysis to understand their break-even price before making the fixed-cost purchases of the equipment. The variables needed to make this calculation are:. There are several web-based profitability calculators, such as the one provided by CryptoCompare, that would-be miners can use to analyze the cost-benefit equation of Bitcoin mining. Profitability calculators differ slightly, and some are more complex than others.
Run your analysis several times using different price levels for both the cost of power and the value of bitcoins. Also, change the level of difficulty to see how that affects the analysis. Determine at what price level Bitcoin mining becomes profitable for you—that is, your break-even price. Given a current reward of 6. Of course, because the price of bitcoin is highly variable, this reward figure is likely to change. To compete against the mining mega centers, individuals can join a mining pool , which is a group of miners who work together and share the rewards.
This can increase the speed and reduce the difficulty of mining, putting profitability in reach. As difficulty and cost have increased, more and more individual miners have opted to participate in a pool. Although the overall reward decreases because it is shared among multiple participants, the combined computing power means that mining pools stand a much greater chance of actually completing a hashing problem first and receiving a reward in the first place.
The two most commonly used payout methods used in Bitcoin mining pools are briefly described below:. As bitcoin's ecosystem has developed, a new form of payment method has developed to overcome drawbacks inherent in both payment method types. For example, a pay-per-share model can remove the incentives for miners from finding blocks altogether since a payout is guaranteed.
A proportional mining method is problematic during bear markets or as bitcoin rewards decline. In response, many miners have taken to switching their resources between mining pools based on their payout method and bitcoin price. Some mining pools have also adapted their rewards strategy between the two payout methods in response to declining rewards of bitcoin. To answer the question of whether Bitcoin mining is still profitable, use a web-based profitability calculator to run a cost-benefit analysis.
Determine if you are willing to lay out the necessary initial capital for the hardware and estimate the future value of bitcoins as well as the level of difficulty.
Losing a Bitcoin wallet is like losing cash, if not worse. You may get your cash back sometimes, but Bitcoin is impossible to get back. There are many other wallets on the market, and this is not an ad: Coinomi is just a reliable solution.
It makes no difference where you install your wallet: it can be a smartphone or PC. Important: Make sure to secure your wallet recovery phrase mnemonic phrase by writing it down on paper. Electronic devices won't do, especially those connected to the Internet. When needed, you will be able to restore your wallet by using this phrase. Even if you delete Coinomi from your computer, you will be able to recover your wallet thanks to this phrase. The next step is to check whether you saved your phrase properly.
You can skip this step, but we recommend checking your mnemonic phrase. Create your wallet password. Coinomi is a multi-chain wallet, which means it can store other coins apart from Bitcoin. In this case, we need Bitcoin. Put a mark next to Bitcoin and click Next to continue. Now you can see your wallet address.
If you are installing the wallet to a smartphone, you should follow the same steps. Here you can find screenshots from an iPhone. The best thing about Coinomi is that you can use the same wallet on multiple devices. If you change a smartphone or need to erase everything from a PC, you can always recover your wallet on any other device.
Download the Quick Start archive by the 2Miners pool. This archive is completely safe: you can always find it on the pool webpage. Unpack the archive. The password to the archive is 2miners No upper case and no dots at the end. Right-click on the eth-pool. Mining has officially started now. It will go on until you keep the mining program open. If you close it, you can always run the eth-pool.
We still haven't discussed a few important questions, like: "Where is my Bitcoin? How do I get it? When is the payout? How much will I get? In order to find your mining stats, you need to copy your wallet address: bc1qzdndm8jl6t79xkph8vvt6fkx4a8ntrnxz67, and paste it in the search box at the top of the 2Miners. You will see a page with your stats.
You should wait for 5—10 minutes. You can use 2CryptoCalc to estimate how much cryptocurrency you can earn. Say, you have the Nvidia There is a minimum payout threshold in the mining pool. As of now, it is equivalent to 0. So you need to mine for about a week to get your first payout. You can monitor the process on your stats page on the pool website. And some of you probably noticed something strange as well.
Ethereum is the most profitable cryptocurrency for GPU mining. So to be clear, you mine Ethereum and get payouts in Bitcoin. It's a great way to make the most of the two major cryptocurrencies in the world. Many of you might have heard that GPU mining is bound to end very soon. Read our advertiser disclosure for more info. Bitcoin is one of the most popular and well-known types of cryptocurrency.
But how do you get bitcoin? You can either purchase bitcoin or you can "mine" it. The mining process involves using dedicated hardware e. If you've decided to get into cryptocurrency mining, here is some of the best bitcoin mining software to start with. Consult with a qualified professional before making any financial decisions.
This article is not a recommendation by The Balance or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed. Cgminer has been around for a while and is still going strong. With a plethora of features and active community support, it's easily the best bitcoin mining software out there.
Compatible with both FPGA and ASIC hardware, cgminer is a command-line application that has full monitoring, fan speed control, and remote interface capabilities. It comes with a scalable networking scheduler that can scale to hash rate of any size without network delays. Cgminer prevents stale work submission on new blocks and supports multiple pools with intelligent failover mechanisms. Submissions can also be cached during transient network outages.
If you have a thing for tinkering and are looking for a customizable bitcoin mining software, look no further than BFGMiner. BFGMiner features built-in stratum and getwork proxy server, and its heavily threaded code hands out work retrieval and work submission to separate threads, so that working services are not hindered. The program supports "getblocktemplate" decentralized mining protocol without proxy , and can preemptively generate work prior to the completion of existing work.
BFGMiner comes with a watchdog thread that can restart idle threads but doesn't crash the machine if they fail to respond. It displays summarized and discrete data statistics of requests, accepts, rejects, hardware errors, and efficiency and utility. If there is hardware support, the program can monitor device temperature. Different cryptocurrencies have different command line mining tools, and this makes managing them a chore. This is where EasyMiner comes into the picture, making things easier.
EasyMiner is a graphical, open-source mining software that lets you mine bitcoin, litecoin, and other cryptocurrencies. EasyMiner comes with a dedicated "Moneymaker" mode, which is dedicated to the mining of litecoin on its own stratum pool. There's also a "Solo" mode, which allows users to choose a pool of their own, as well as a custom hash algorithm corresponding to the coin they want to mine. It's worth mentioning that EasyMiner only works on Windows.
The above-discussed software works great if you just have one mining rig to work with. But if you want to manage multiple mining rigs, and of different types e. Enter Awesome Miner. You can add, switch, and manage pools for multiple miners in a single operation. There's also a built-in C script engine, which can be used to create customized triggers and actions. You can use the program to set up privileged application programming interface API access and configure default pools for all Bitmain Antminer ASICs in a single operation.
Awesome Miner works on Windows and Linux, but also offers a web front-end that can be accessed from any computer, tablet, or smartphone. Bitcoin mining software is used to keep the decentralized digital cryptocurrency secure.
It is likely a scam. No cloud-mining service can guarantee you a particular rate of return, or guarantee that you'll break even or start turning a profit in a short amount of time. Pick a cloud mining contract package. With cloud-mining, you essentially lease mining power from a miner farm for a period of time.
While your contract is active, you get all the Bitcoin that is mined using that amount of mining power, minus fees paid to the cloud-mining service for maintenance of the mining hardware. While shorter contracts may carry a lower price tag, it's unlikely that you'll make any money in a shorter period of time. You usually need at least 2 years to break even. This sounds like a lot, but it's unlikely that you'd do much more than break even in 2 years on such a small plan.
Withdraw your earnings to your secure wallet. When you purchase your contract, your mining power goes to work for you immediately. As you earn Bitcoin, it will show up on your account at the cloud-mining service. When you've accumulated enough, you can send it to your wallet.
Others may allow you to withdraw your earnings any time you want, as long as you have a minimum amount. The minimum can range anywhere from 0. Method 3. Use an online mining calculator to calculate mining profitability. Mining rigs can be relatively expensive and consume a lot of power. Playing with different setups on an online mining calculator can help you determine whether it's worth it to you to start mining.
If you're just getting started, you may not have all the information available, such as mining pool fees or power cost. However, the more information you provide, the more accurate the profitability estimate will be. Buy ASIC miners and a power supply for your mining rig.
Essentially, it's a computer chip that needs a power supply to run it. ASIC miners vary in price depending on their hashing power and their efficiency. You can monitor the price of Bitcoin to calculate changes in the time it will take to turn a profit. Profit may also vary based on the price of electricity. Connect your miner and boot it up.
Connect your power supply to your ASIC miner, then connect your miner to your router. Use an ethernet cable to connect your miner — a wireless connection is not stable enough. This will take you to your router's admin page. This will enable you to configure your miner. Download Bitcoin mining software to a networked computer.
After you've connected your hardware, you need to download software so you can mine Bitcoin. There are a number of different mining programs to choose from. These are both command-line programs, so if you aren't particularly tech-savvy, they may present a challenge for you. EasyMiner has a graphical interface that is more intuitive and easier to use, especially if you're a beginner with limited computer skills. EasyMiner works on Windows, Linux, and Android machines. Join a mining pool.
Mining pools are groups of miners that pool their hashing power to mine Bitcoin more quickly. A pool enables you to compete with massive mining conglomerates that have mining farms with tremendous hashing power. You don't need to pay anything up front to join a mining pool. Instead, the pool takes a percentage of the Bitcoin mined typically between 1 and 2 percent.
Without a mining pool, you would have to mine potentially for years before you'd see any profit. With a large pool, it's possible that you could start earning Bitcoin within a few months. Configure your miner to work in your mining pool. Once you've chosen your mining pool and set up a worker account, access your ASIC miner configuration screen and enter the IP address for your mining pool. Then enter the worker name and password you created for the mining pool.
When you've entered this information, save your settings. As soon as you save your settings, your miner will start working in your mining pool. You can go to your mining pool account to see your status and evaluate your miner's performance.
However, keep in mind it may take up to an hour for your mining pool to display your miner's hashing rate. Transfer any Bitcoin you mine to your secure wallet. As you mine Bitcoin, it will show up in your mining pool account. Your mining pool may have a monthly or quarterly payout schedule, or you may be responsible for manually moving your Bitcoin from your account to your wallet. Some mining pools may only allow you to transfer Bitcoin to your wallet once you have a certain amount, typically around 0.
You may be able to withdraw smaller amounts for a fee. Include your email address to get a message when this question is answered. Avoid buying a used ASIC miner. They are prone to burnout, and may not last long enough for you to make any profit. Helpful 1 Not Helpful 0. Cryptocurrencies are volatile. The market value of Bitcoin can and does change frequently. Don't invest any more money in Bitcoin than you can afford to lose.
While this used to be possible, the blockchain is far too advanced now for this to be a viable option. You'll end up spending more on electricity than you make in Bitcoin, and will likely burn out your computer equipment. Helpful 4 Not Helpful 0. You Might Also Like How to.
How to. More References 4. About This Article. Co-authored by:. Co-authors: Updated: September 13, Categories: Featured Articles Bitcoin. Article Summary X To mine Bitcoins, start by downloading a Bitcoin wallet on your computer or mobile device, which you'll need to store your mined Bitcoins in. Bahasa Indonesia: Menambang Bitcoin. Thanks to all authors for creating a page that has been read 1,, times.
Jeff Plumb Nov 29, It also gave me the info on what kind of equipment I might need. Thank you. Some common narratives that you have likely heard in recent years are:. I set out to see for myself, you know, don't trust, verify?
Diverter's guide showed me the solution I was looking for. But, coming back to the questions at hand: "Am I better off dollar-cost averaging or mining? A strong strategy for home mining is to start small and build your knowledge, skills and commitment slowly. There are so many variables, like electricity rate, hardware cost, unique home environment, network hash rate and BTC price. There is no way I can tell anybody this is a viable solution for them, nor can I say it isn't.
The best thing I can do is provide the information one needs to let them make an informed decision for themselves and explain that their decision depends on what they think the near future holds for the BTC price and the Bitcoin hash rate and how creative they can get in solving heat or noise problems. On July 13, , I posted this Twitter thread presenting a few charts I had put together by compiling 12 months worth of BTC price, network hash rate and daily mining rewards data.
Some have said that I'm cherry picking the data, which is bullshit. I presented months worth of data, I did not remove any unfavorable data from the set. I even posted my spreadsheet and accompanying files on GitHub in a repository available for anyone to fork and modify however they want. I already put the first 12 months of historical data together and I would encourage anyone to put the work in to expand that data set if they want to. Probably the biggest factor in making the decision to mine at home is going to be your electricity rate.
In my data set, I put four different rates together representing a range of users. I'm going to share with you four charts that I made using the above information. I thought that these four charts illustrated the information needed to provide insight into the most pressing questions.
Only the second chart accounts for the initial hardware cost 0. The first chart displays the cumulative amount of bitcoin you would have stashed away if you had dollar-cost averaged the amount paid in electricity versus mining directly. But for the average U. Bitcoin is supposed to help a person develop a low time preference, and I think that successful miners understand this concept well. This chart shows you roughly how long it would take to get your return on investment ROI if you deploy some amount of bitcoin to procure an ASIC.
For example, if you had spent 0. After that point, you are running an ASIC that's paid for and accumulating more bitcoin than you would have had in the first place if you had just bought a lump sum and then stopped accumulating. The important takeaway for me from this chart is the idea that, more likely than not, you're just going to be holding your bitcoin in cold storage for the foreseeable future anyway.
Why not put some of that capital to work in a way that will return the investment in roughly one year, plus provide you with the hardware needed to then increase your holdings? Many S9 Antminers are still running profitably to this day, five years after being deployed. It is a reasonable assumption that today's new generation of ASICs will also be running profitably well into the next subsidy epoch.
The second chart takes the first chart into account and also displays the upfront hardware cost. Special thanks to bitcoin for encouraging me to make this particular chart, I think this is the more objective approach. This chart shows the outcomes over the last year if you had started with 0. You can see the trend line for mining starts at zero since you would have spent your money on the ASIC instead of bitcoin, whereas the other trend lines start at 0. However, I think it is noteworthy that the mining trend line is closer to being linear as mining accumulates a more consistent amount of bitcoin.
Compared to the DCA trend lines, they are more vertical while the price of bitcoin is lower since you get more for your money, but they begin to flatten out as the price of bitcoin increases because you get less for your money. Again, this all comes down to what you believe lies ahead for the price of bitcoin and the network hash rate. Eventually, I believe the trend line for mining will intersect and surpass all the DCA trend lines.
Another important consideration to think about while looking at this chart is that the ASIC hardware price is closely tethered to the price of BTC. If the price of BTC goes up, then your asset appreciates in value and if the price of BTC goes down, then your daily mining rewards are likely to go up as other mining operators go offline and hash rate decreases.
The third chart shows the amount of bitcoin you would have accumulated daily had you been spending your money dollar-cost averaging versus paying the electricity to run an ASIC. You can see that for roughly the first quarter of the year, you would have been stacking more BTC by just buying at an exchange.
What happened mid-November ? Which means that by dollar-cost averaging with an exchange, you would have been getting less bitcoin for your money. However, by using that same amount of money to pay for the electricity, you would be getting more bitcoin.
The fourth chart displays the USD value profitability of mining based on kWh rate. Think about that: At the U. Another important consideration: There is no KYC involved with mining at home. You could be censored from accessing your bitcoin overnight in that situation. Even if you withdraw your bitcoin to your own custody, it is still attached to your identity because of the KYC. In a hostile, style event, you would have a target on your back if taking self custody. There are services that provide automatic withdrawals to your own Bitcoin wallet, which is a good start for self-custody.
The issue is that these services require KYC which irrevocably attaches your identity to a bitcoin purchase. Simply having custody of your bitcoin will not safe guard you from a hostile style event. Mining at home is impervious to this effect as there is no KYC involved. This is not a silver bullet against scammers, but it is a good start. If you have any hesitations, reach out to someone like myself or Diverter or RoninMiner for advice.
When you find an ad for something you want, don't hesitate because there is a minimum order quantity MOQ. Contact the seller and get on their radar. Many sellers will consolidate small orders to reach their MOQ. Once you strike a deal, be patient, it will likely take a month or longer from the time you submit your payment until your hardware arrives.
Ventilation: ASIC's produce a lot of heat and you will need to do something with it, otherwise you will heat up the space that the ASIC is in and it won't run if it overheats. You need to think about how you will provide adequate ventilation. Some people try to capture this heat to use in warming their homes and there is no shortage of creative solutions that can apply here. For myself, I decided to pull cool air in from outdoors and just vent the hot air back out through a nearby window.
I also installed an inline duct fan to help keep the air moving. Noise: ASIC's are loud — very, very loud. For reference, that's roughly as loud as having a lawn mower running in your living room. So, you need to make careful considerations about how you will handle these noise levels If you have a family, their sanity is at stake, so plan carefully.
If you can get even a 10 dB attenuation, it will make all the difference in the world. This is easier to do than you may think, it can be done by building a simple enclosure that still allows for adequate ventilation or by installing your ASIC in a basement or garage. For my setup, I built an enclosure out of plywood and medium-density fibreboard MDF. Consider using fire-rated materials instead if you decide to go this route.
Electrical: Make sure that you have the appropriate electrical infrastructure ready to go for your new hardware. Now, if you have no idea what I just said, that is a great indicator that it's time to call a licensed electrician. They are not as expensive as you may think and no amount of bitcoin is worth the safety of you and your family. Pool: By connecting to a mining pool, you will be combining your hash power with that of many other miners and together, the entirety of the pool's hash power is used to work in a coordinated effort in solving for a block.
You technically can run a solo miner with your own node or with CK Pool. The disadvantage is that if you do not find a block, then you do not get any rewards. For example , on June 3, , a single 50 Th S17 mined a block solo. Personally, I joined Slush Pool and consistently stack mining rewards daily as the pool finds blocks.
Connecting to a pool is the easiest part about all of this. You plug your ASIC into power, connect it to the internet with an Ethernet cable, then open a web browser on your local network and log into your ASIC with the IP address, kind of like how you log into your home router. Then you can log into your pool's dashboard to monitor your miner's status and input the Bitcoin address you want your funds deposited to.
I recommend updating your Bitcoin deposit address often and not reusing it. Slush Pool, for example, doesn't require any identifying information other than an email address to set up an account. Be aware of this looming threat posed by creeping KYC regulations, Slush Pool gives its detailed perspective on current events in this Twitter thread. I'm bullish on mining non-KYC bitcoin at home. It's not like you're trying to compete with institutional mining operations. You're just trying to DCA through your electric bill.
I think that the majority of people can mine bitcoin at home profitably. There is a wide range of margin where mining will continue to be profitable, even for home miners on residential electrical rates. Mining at home is safer and more private than using a KYC service to accumulate bitcoin. I hope that this article has given you some insight into notable Bitcoin events this year as they relate to mining and how this has affected the landscape.