[Cryptocurrency mining](https://cryptowallet.com/glossary/mining-farm/) is a process by which new cryptocurrency coins are created. Miners are rewarded with cryptocurrency coins for verifying and committing transactions to the blockchain. Here, we explore everything you need to know about a cryptocurrency mining farm.

## What is cryptocurrency mining?

[Cryptocurrency mining](/news/article/mining-company) is the process by which new digital currency units are created. In most cases, mining involves solving complex mathematical problems to unlock transaction data blocks.
The first miner to solve the problem receives a reward in the form of newly minted coins or tokens.
Mining is computationally-intensive, so it typically requires significant amounts of computing power.
As a result, many miners operate as part of a large mining farm, where they pool their resources and share the rewards.

While cryptocurrency mining can be profitable, it often requires specialised hardware and consumes a lot of electricity.
As such, it is not typically recommended for beginners. However, for those willing to invest time and resources, mining can be a rewarding way to obtain digital currencies.

## The benefits of a cryptocurrency mining farm

Cryptocurrency mining can be done solo or in a pool. As it typically requires significant computing power and energy, there are benefits to a mining farm.
Mining farms can provide an important source of income for communities that the global economy has otherwise left behind.

## Why a mining farm?

Solo mining is the process of mining cryptocurrency by oneself. It requires a great deal of time and effort, as well as expensive mining equipment.
Pool mining, or being part of a mining farm, on the other hand, allows miners to pool their resources and share the rewards. This is often done on a large scale, with multiple miners working together in a so-called mining farm.

While pool mining is generally more efficient than solo mining, it can still be quite costly and require significant expertise. As such, cryptocurrency mining is typically only worth it for those with the time, money, and know-how to do it successfully.

## How to become part of a cryptocurrency mining farm

The first step in starting to mine cryptocurrency is to set up a mining farm. This can be done by buying a mining rig, which is a specially designed computer that is optimised for mining, or by signing up for a cloud mining service.
Once you have your mining farm set up, you will need to connect it to a mining pool, which is a group of miners who work together to mine blocks and share rewards.

Finally, you will need to install mining software and run it on your mining farm. This software will connect your mining farm to the mining pool and start mining blocks.
Mining cryptocurrencies can be a profitable undertaking, but it is important to do your research before getting started. Make sure you understand how the cryptocurrency you want to mine works and how much competition there is in the mining space.

Also, consult with financial advisors to make sure that mining is a good fit for your investment portfolio.


Mining Farm: A Good Crypto Option? 

If you have ever wondered how to mine Bitcoin Cash and how long it takes to mine one [BCH, ]https://bitcoincash.org/) this article is for you.
Before blockchain, money transactions were primarily regulated by two bodies: the government-regulated central banks that print the new cash and regular banks that were involved in money transactions on your behalf. Acting as regulatory bodies, they had complete power over your transactions and money.

The Bitcoin blockchain and its native cryptocurrency [BTC](/coins/btc) were created with the concept that a person should have complete control of the money and transactions they make, and that no other authority or regulatory body should have control of the funds.
Mining is the method by which transactions are verified.

Miners have complete documents of ledgers which they update in sets called blocks. These blocks are then added to the network for other miners to update their ledgers.

The blocks are made by cracking cryptographic problems using computing power, a digital equivalent of the physical effort to mine valuable resources, hence the term miners.

Bitcoin miners receive Bitcoin tokens as rewards.
In August 2017, a fork on the Bitcoin blockchain led to the creation of Bitcoin Cash (BCH). It improved scalability and allowed more transactions to be processed by increasing block size.

## How to Mine Bitcoin Cash and How Long it Takes

In broad terms, crypto miners take 10 minutes to mine one block of Bitcoin Cash. To maintain the 10-minute speed to solve the complex mathematical query, the difficulty level of the problems alters automatically.
When more miners and more computing power endeavour to mine, the difficulty level increases, whereas, when there are fewer miners and less computing power, the difficulty level decreases.

## Requirements to Mine Bitcoin Cash

Mining is similar to any other business engagement, where profitability relies on several factors unique to that venture. In Bitcoin Cash mining, these factors represent the requirements you should have before starting the bitcoin cash mining, including the type of hardware and software to pick. Here is what you should know:

### Hardware for Bitcoin Cash

Picking the right hardware is critical whenever you want to mine cryptocurrency. Today, an ASIC miner is what you require to get the hash rate needed to mine BCH. You need to remember that hardware is the major initial investment cost. The price of the ASIC miners has increased, seeing the power it supplies to the mining activity. A new AISC hardware costs anywhere from $2,000 to over $7,000, with older models available at lower costs.
So, when evaluating an ASIC miner, pay attention to the price, which is relative to three other factors:

•	Hashing/Computing power (in hashes/second)

•	Power consumption

•	Efficiency

Hashing power is the count of hashes a hardware machine can generate while solving a block. It's calculated per second, and the higher the figure, the more effective the machine and the more pricey.

Power consumption is related to the electricity (energy) required to run the miner optimally. It is measured in kilowatt-hours and can affect profit if too high. That's when you review the third factor, efficiency.

An ASIC miner is needed, and one with a high hash rate. However, it should not lead to too much power wastage.
Efficiency: This factor reveals how much power must be used to get a single BCH coin. An effective and powerful machine consumes less electricity than others when mining Bitcoin Cash.

If you have chosen your hardware machine, it's worth checking the other related requirements:

•	Electricity: cheap and stable is best. Having a backup is perfect.

•	Internet connectivity: 24/7 internet connection- an inconsistent connection will smash your chances of success.

## Software Requirements

Software is another critical requirement you must consider to look at as you opt to mine Bitcoin Cash. Mining software connects with your hardware machine to process the mining. It will deliver an interface for linking with the network to monitor the process and check profits.

You can get mining software applications for mobile and desktop use.

## Which Software Do People Prefer to Use to Mine Bitcoin Cash?

There are multiple software applications you can pick from to mine Bitcoin Cash. However, the two most widely used in the industry today are CGminer and BFGminer.
Both are command-line programs, which implies you can operate on the interface to get more into the mining process. Don't worry if you find the command-line interface (CLI) a little complex; EasyMiner is a great option that offers computerised functionality and sustains both self-mining (solo) and pool mining.
Note: Most ASIC miners are available with pre-installed software. If it's not, perform research to find one compatible with your hardware.

## Technical knowledge required to mine Bitcoin Cash

Before starting your Bitcoin Cash Mining journey, one of the basic requirements is understanding the technical terms connected with the mining process.

•	Consensus algorithm: 

It is a blockchain technology mechanism that permits agreement between a distributed network of users or machines. For example, a Proof of Work consensus algorithm lets miners agree on verifying blocks before they are updated to the blockchain.

•	Blockchain: 

It is a distributed ledger of all the trades on the network, managed in data blocks that are validated every 10 minutes. Miners get rewarded when they secure the network by updating a verified block to the blockchain.

•	Block time: 

This is a time estimate coded in the protocol: how much time miners take to validate blocks and update them to a distributed ledger. Bitcoin Cash has a block time limit of 10 minutes.

•	Hash rate: 

The measure of hashing power required to crack a complex puzzle and validate a block of trades. It's also called computing power and is calculated in hashes per second. The more per second hashes a machine produces, the more effective it is and the higher its probabilities of finding a block.

•	Mining difficulty: 

This is to calculate and find how difficult it is for a miner to find a new Bitcoin Cash block. It's also called a difficulty adjustment algorithm (DAA) and corresponds to the hashing power a miner requires to mine a single block within the calculated block time. For Bitcoin, the difficulty alters every 2016 block, while BCH introduced an Emergency Difficult Adjustment (EDA) algorithm in November 2017. The latter also leverages a retarget of the last 144 blocks to alter the difficulty.

•	Mining fees: 

A miner fee is a small amount of money users link to the blockchain trade to incentivise miners to process their trades. This amount is in addition to the 6.25 BCH in the block reward.

•	Block rewards: 

This is a reward given to a miner(s) who cracks the complex mathematical cryptographic puzzle on the network. For miners, Bitcoin Cash offers a block reward of 6.25 BCH.

## Pros and Cons of mining Bitcoin Cash

Mining Bitcoin Cash includes both pros and cons aspects. Let's see the pros and cons:

### Pros

1.	Block rewards can be very fruitful and profitable, and as a miner, you can earn good money.
 
2.	The transaction fees also complement rewards for successfully mining. 

3.	A good mining pool selection can raise your chances of block rewards.

4.	Your mining endeavours secure the Bitcoin Cash network.

5.	Old ASIC hardware can still be traded second-hand, as the market exists for other networks.

### Cons

1.	A high hash rate implies you may experience losses if you can't compete.

2.	ASICs need a heavy energy supply, resulting in a high electricity bill.

3.	Pools can reduce your reward as it is distributed among members.

## Is Bitcoin Cash Mining Profitable?

### To determine how beneficial it is to mine BCH, you must consider the factors mentioned below.

•	Hashing power

•	Power consumption

•	Cost of electricity

•	Pool fee

•	Bitcoin Cash price

You can decide if mining Bitcoin Cash will be profitable when you consider the hardware machine's computing power (output in Terahashes per second (TH/s) or Gigahashes per second (GH/s)). Another notable factor is the amount of power the hardware will consume and the expense of electricity per kilowatt-hour (kWh).


How to Mine Bitcoin Cash (BHC) 

Interested in mining cryptocurrencies and becoming a contributing member of the blockchain? In that case, you might want to learn more about the best crypto miner.

Over the past few years, the culture of investing in crypto has become quite popular. To make money from crypto, you have two options; trading and mining. Trading crypto coins is convenient and more accessible. Whereas crypto mining is expensive but a lucrative option.

Though investing in crypto mining is a big-budget task, investors find it highly rewarding. How to become a miner? You have to set up a crypto mining rig through which you can mint coins and become a contributing miner of the blockchain. A rig needs both mining hardware and software.

Wondering what the best crypto miner is? We've listed the best mining software and hardware to help you set up your own mining rig.

## Best Crypto Mining Hardware

Crypto mining hardware uses various specialised technologies for mining cryptocurrencies. The recent ones mostly rely on GPUs (Graphics Processing Units), ASIC (Application-specific Integrated Circuit), or FPGA (Field Programmable Gate Array).

Here's some of the best crypto mining hardware you might want to invest in!

1. Antminer S19 Pro
Antminer S19 Pro is a highly advanced device for mining [Bitcoins](/coins/btc) and SHA-256 coins. The device offers you a solid efficiency of 29.7 j/TH, with which you can earn $12 daily. Besides, it has the potential to generate revenue of up to $10,000 yearly. Because of that, it gives you a 195% return on your annual investments.
This ASIC-based miner can work in an environment with 5 to 45 C. S19 Pro maintains the hash rate of 110 TH per second. The device will need 3250W and costs around $0.1 per kilowatt. But, the efficiency and return rate makes this device ideal for crypto mining.

2. DragonX WhatsMiner M30S++
DragonX WhatsMiner M30S++ is another powerful hardware for mining crypto. This device also uses the ASIC system and can generate 86Th per second. It features three chipboards and has a chip size of 8nm.
WhatsMiner M30S++ can mine Bitcoins along with 9 other SHA-256 coins. It has an ethernet interface, and it does not require software or host computers. M30S++ works between 200 to 240 volts and consumes around 3600W.

The device lets you earn around $12 daily, and you can accumulate up to $4,350 every year. Also, it offers you an efficiency of 0.038j/GH. However, M30S++ is not the ideal choice in terms of energy consumption, and it operates best for advanced mining purposes.

3. AvalonMiner 1166 Pro
AvalonMiner 1166 Pro is one of the best crypto miners for its hash rate. The device is also an ASIC, capable of dealing with 81TH per second. You can use 1166 Pro for the mining of Bitcoin, Bitcoin SV, Bitcoin Cash, and other SHA-256 currencies.
This AvalonMiner can earn you around $3 daily and maintain an efficiency of 0.042 j/Gh. It costs only $0.01 for each kilowatt consumption and generates over $1000 revenue annually. With this miner, you can make substantial profits by mining Bitcoin and other cryptocurrencies.

## Best Crypto Mining Software

Once you have invested in the right hardware for your crypto mining rig, the next step is to choose some of the ideal mining software or apps to begin mining. Here are some of the best crypto mining software you might consider!

1. CGMiner - Overall best mining software
CGMiner is the best crypto miner because of the customisation power and the compatibility with many mining systems. It is an open-source platform with cross-platform compatibility. With this software, you can work with Windows, Linux, and macOS for mining.

CGMiner not only supports several devices, but it can also work with different crypto mining pools. Its interface is command-line, which is based on the C language. With simple one-line commands, you can track system performance and adjust settings.

Apart from that, CGMiner can also work with varying hash rates without affecting its functioning. Also, the software is always prepared for network disruptions, as it has a cache and archive to save the data. It is an ideal free crypto mining software you can use with your different devices.

2. MultiMiner - Best crypto miner for beginners
MultiMiner software offers a highly intuitive interface that is best for beginners. It comes with an easy-to-navigate GUI. A novice would be able to navigate through the app easily.
Moreover, MultiMiner can work with varying systems, including Windows 10, Linux, and macOS. But, for macOS and Linux, you might need extra apps for installation. Besides, it can support all hardware, including GPU, FPGA, or ASIC.

When you set up the software, it can automatically detect what hardware you are using. According to that, it gives you options for coins you can mine and the method you would use for mining.

3. [Awesome Miner](https://www.awesomeminer.com/) - Best for large scale mining
If you want to step into crypto mining at a larger scale, Awesome Miner would be an ideal choice for you. This miner can work with over 200,000 ASICs along with 25,000 GPUs and CPUs. With this much capacity, Awesome Miner offers you great scalability.

Other than scalability, you can also have a system to manage your crypto-mining rig centrally. In addition, you can ensure efficiency and maintain revenue. The software also allows you to keep track of your income, power consumption, temperature, and other features.

It is a cross-platform software that can support the mining of several currencies. Moreover, it has the auto-recovery feature that ensures the least downtime. Besides, Awesome Miner lets you access all these features for free. That's why in a large-scale crypto mining setup, this software can be pretty handy.

Conclusion

Crypto mining has become a popular trend. The reason is that it allows you to mine crypto coins and makes you a contributing member of the blockchain who enjoys distinguished benefits. However, crypto mining is a big-budget task; that's why you need to be diligent about how you set up your crypto mining rig.

For this reason, it's important to get familiar with both mining devices and apps to help make the right decision. One way to achieve this is by going through our list of some of the best crypto mine hardware devices and software you can invest in to make better profits.


Best Crypto Miner: Top Mining Tools

Is free [Bitcoin](/coins/btc) mining a scam? Is it possible to mine Bitcoins by playing free Bitcoin mining games? Here are 11 free Bitcoin mining games you can play to win Bitcoins.

1.	Roller Coin
2.	CryptoPop
3.	CropBytes
4.	Bitcoin Bounce
5.	Bitcoin Food Fight
6.	Crypto Planet
7.	Bitcoin Blast
8.	Bitcoin Solitaire
9.	Alien Run
10.	Bitcoin Blocks
11.	CryptoWin 
 
Mining Bitcoin has been made accessible and achievable for you. Read on to find out more about these games and how they work.

## What is Bitcoin?

Bitcoin, also known as BTC, is the largest and most popular cryptocurrency in the crypto space. It was created in 2008 by Satoshi, an anonymous person who remains anonymous. Bitcoin is simply digital money whose transactions cannot be traced, but are considered safe, just like other cryptocurrencies. 

## What is Bitcoin Mining?

Bitcoin mining is simply a way of creating new Bitcoins, and it serves as a form of maintenance for the coin’s network. Bitcoin mining is usually a challenging process that involves solving complex cryptographic calculations. And this often requires the use of high-level computer systems. 

If mining Bitcoin is tough, how possible is it then to get Bitcoin by playing free Bitcoin mining games? After reading about Bitcoin mining, this is probably the question on your mind. 
It is entirely possible to mine Bitcoin for free just by playing games. You should be aware that these games are not random; they were specifically created for mining coins.

Please note that Bitcoin isn’t the only cryptocurrency mined by playing free games. It is also important to know that not all coins are created by mining. 

## 11 Free Bitcoin Mining Games

Here’s a list of carefully selected free Bitcoin mining games you can play and win actual Bitcoins. 
Bitcoin mining is made easy with these play-free play-to-earn games. Why just play games on your mobile when you can actually play and earn at the same time? In no particular order:

1.	Roller Coin: This is an online virtual Bitcoin mining game. Players compete against their friends to mine Bitcoins. This mining process is fun and easy compared to the primary mining process. You get to complete missions, and tasks and, most of all, play a fun game to build your mining empire. You just need to sign up, log in, and customise your character. Nothing complicated, just an easy play-to-earn game, and you get to win actual Bitcoin. 

2.	CryptoPop: Who says Bitcoin mining has to be difficult? There is no use mining the hard way when you can enjoy yourself while earning notable cryptocurrencies. The game is almost like candy crush, but instead of candies you have to tap on some group of cryptocurrencies to pop them. Points are added depending on how many pins you pop in one tap. To start playing the game, you need to input your Coinbase email address in the wallet section to record your points. Once you have gotten enough points, it’s time to get paid. 

3.	CropBytes: If you played the popular Farmville game in the past, then this is your chance to earn big from this game. Like Farmville, you need to grow, harvest your crops, feed your farm animals, that is, your livestock, and then collect products from them. The products collected from your livestock, such as milk and eggs. It can be traded for crypto, and you also need to reinvest in the farm to keep it running and earn more money. To play the game, you first need to sign up, then to withdraw your earnings, you need to send your wallet address to the game's support link.

4.	Bitcoin Bounce: As the name indicates, this is a game that involves bouncing, in the sense that you have to bounce from one platform to another without falling. You also need to pick up all the power-ups you find along the way to help you survive longer.

5.	Crypto Planet: The game is about mining crystals; all you need to do is activate the digger and leave it for eight hours, then come after to claim your crystals. These resources can now be used to buy Space Chests from the game shop, which you'll need to earn real cryptocurrencies. You will earn more cryptos at the end of the day as you mine more crystals from planets. The trick to earning more crystals faster is to incubate some, and you’ll get more after a few hours. Also, there are daily quests to harvest more crystals and get more Space Chests. Cryptocurrencies earned are stored in the in-game wallet. You can be able to withdraw once you reach the withdrawal limit. Your earnings can also be transferred to any supported external wallet.

6.	Bitcoin Food Fight: In Bitcoin Food Fight, the fight is not against other people, but rather against the food. Nice twist! You throw knives at pizzas and other food items to make them fall apart. In this game, you need to aim for the space between the knives already stuck to the food. And ensure that your knife does not clash with another, as it will reset the level. Everyone is a winner in this game, and you get rewarded with Bling points whether you win or lose. You can convert your Bling points to Bitcoin, and you can cash out every seven days. To claim the Bitcoins you earned, you need to enter your Coinbase account in the Redeem tab.

7.	Bitcoin Blast: This is a simple game. You need to make a chain of at least three Bitcoins to clear the board. The length of the chain determines your earnings, meaning the longer the chain, the more you earn. To start, you need to sign up for Bling, and you also need a Coinbase account.

8.	Bitcoin Solitaire: Do you know about the Solitaire game? Well, this game is the same as the original Solitaire game. For those who do not know about Solitaire, the game is played by arranging each deck of cards into ascending order. The deal is for you to make faster moves. You need a Coinbase to be able to withdraw your earnings.

9.	Alien Run: Did I mention earlier that this is a list of fun games? Alien Run is indeed a fun game with a different twist from others. In this game, you gain points when you pass five levels. In the game, you play as Daniel D’Alien, and you run and jump across platforms that change occasionally. The game has many levels with unpredictable twists that make it even more fun. Like other mining games, you need Coinbase to be able to collect your rewards.
 
10.	Bitcoin Blocks: The game simply matches at least two blocks. The deal is to match more than two blocks so that you can win combos that enable you to get rid of the blocks easily and earn points. You'll need a Bling account and a Coinbase account to start playing the game to claim your profit. Please be aware that the game automatically locks you out for 12 hours when you play 15 consecutive turns.
 
11.	CryptoWin: This is a great game that is good for memory testing. How sharp is your memory? Well, it is time to find out how active your memory is. To play the game, all you need to do is tap any card on your screen, then find the other pair by flipping other cards. There is a time limit, though, so do well to finish before the time ends. There are many levels in the game. The more you win, the harder the game becomes, and the more games you win, the more you earn.
There are various ways to earn digitally, and free Bitcoin mining games are one. You can earn big from the comfort of your home at your leisure. You can earn actual Bitcoins just by playing these free Bitcoin mining games. They are fun, easy, and, of course, free.

Ensure that you do not put details that can compromise your wallet for safety purposes. Enjoy your games while earning.


Free Bitcoin Mining: Experience the Best Games

The supply of Bitcoin is capped at 21 million units, so how many [Bitcoins](/coins/btc) are left to mine?

The cap is established by the source code of Bitcoin, written by its creator, Satoshi Nakamoto, and which cannot be modified. Once every Bitcoin is mined, the number of coins in circulation will be fixed indefinitely. 

In comparison, central government money has no set boundaries. Governments can issue as many dollars or rupees as they need if they do not mind the resultant inflation. Before Bitcoin, digital cash had the problem of double-spending. Until its development, the only method to ensure a party did not spend money twice was for some central authority to track coins transferred and received, updating users' balances – just like the existing banking system.

However, Nakamoto's discovery enabled computers running a piece of software to impose rigorous spending constraints that prohibited a digital representation of value from being spent twice for the first time – or made it prohibitively expensive to do so. Previously, miners would sell their freshly created Bitcoin on the market to fund operational expenditures in US dollars. However, mining companies are increasingly adding their created currencies to their balance sheets and issuing Bitcoin-backed loans. As a result, Bitcoin has become even rarer as a more significant proportion of the entire Bitcoin supply is locked up for the long term.

As of January 2022, 18.9 million Bitcoins had been mined, with around 2.1 million Bitcoins left to be mined. The block reward - or the number of new Bitcoins awarded to crypto miners for creating a new Bitcoin block - determines how long it takes to mine one Bitcoin. At the moment, 6.25 Bitcoins is the block reward, and a new block is generated every 10 minutes or so. Every 1.6 minutes, a new Bitcoin is mined.

## Production of Bitcoin 

According to the Cambridge Bitcoin Power Consumption Index, the production of Bitcoin requires 143.5 terawatt-hours of electricity per year, which is more than in Ukraine or Norway. As of August 2021, mining a single Bitcoin would need nine years of household-equivalent power. Application-specific integrated circuits, or ASICs, are necessary computer hardware and can cost up to $10,000. ASICs consume massive quantities of energy, which has sparked criticism from environmentalists and restricts miners' profitability. Joining a mining pool is one method to share some of the hefty costs of mining. Pools enable miners to share resources and increase capabilities, but shared resources imply shared incentives. Therefore, the potential payment is lower while using a pool.

Surprisingly, the Bitcoin protocol's supply restriction of 21 million is not stated in its white paper or code. Instead, the ever-decreasing quantity of Bitcoins paid by each block, together with the decentralised network of computers enforcing that reward, allows the network to implicitly forbid the issuing of Bitcoin beyond the limit.  

Nakamoto set the restriction to make the money rare and to minimise inflation that may result from an infinite supply. The idea is simple: if there is a limited amount of Bitcoin, its value would eventually grow due to increased demand and less supply. The difficulty is that Bitcoin achieved 90% of its maximum supply earlier this month. The most significant effect of approaching and eventually exceeding Bitcoin's supply cap is that mining will become significantly less economical. However, the procedure will take more than a century. Bitcoin miners will still be compensated, but only through transaction fees rather than newly generated coins. Since the cryptocurrency's inception in 2009, about 19 million bitcoins, or 90% of the total, have been mined.

Nonetheless, recent predictions indicate that the final Bitcoin will not be created until about 2140. The rate of new Bitcoin left to mine is expected to diminish over time. Every 210,000 blocks, the pay-out for mining each block of bitcoin, which is done every 10 minutes, is cut in half. This occurs every four years. The reward per block had decreased from its original value of 50 BTC per block in 2009 to just 6.25 bitcoin by 2022. By the end of 2024, miners are scheduled to receive just 1.56 Bitcoins for confirming a block of transactions.  

## The History of Bitcoin Mining

Mining was swift at first: according to research firm [Messari](https://messari.io/), half of the 21 million potential Bitcoins had already been mined by late 2012. In 2021, issuance dropped significantly, with fewer than half a million BTC mined for the entire year. If demand for Bitcoin continues to rise, reaching the supply limit would certainly raise its price. This is because everyone desiring to acquire Bitcoin will have to do it from another person, giving sellers influence over the price. Even if all Bitcoins are produced, far less than 21 million will be actively circulating. Chainalysis, a data analytics firm, believes that nearly one-fifth of all coins created have been lost. Bitcoin is stranded in wallets with lost keys, by the physical loss of hard drives where those keys were kept, or even in wallets belonging to deceased owners who never passed on the credentials required to access them. If Bitcoin in 2140 is mainly used as a store of value rather than for everyday purchases, miners can still profit - even with low transaction volumes and the absence of block rewards.

Miners can charge hefty transaction fees to execute high-value or big batches of transactions, with more efficient "layer 2" blockchains like the Lightning Network collaborating with the Bitcoin blockchain to allow everyday Bitcoin spending. However, because the rewards are half every four years, the cost of operating the enterprise will soon outweigh the miners' earnings. Mining may become an unsustainable economic model. Transaction fees will, however, eventually climb because only a limited number of transactions may be validated every 10 minutes. This would be compensation for miners suffering a lack of block rewards, but the transaction amount is dependent on the network's future state. Miners might also employ innovation to improve energy efficiency and reduce expenses. 

If the number of network transactions grows in the future, the pace of the transactions may slow. Bitcoin's architecture prioritised accuracy and integrity over speed. If the volume of transactions in the network falls, Bitcoin could become a reserve asset. That would push out small retail traders, which would be replaced by substantial institutional players, raising transaction costs and making trading more expensive.  
Furthermore, if Bitcoin mining becomes unprofitable in the absence of block rewards, the following damaging effects may occur: 
Groups of miners may create cartels to dominate mining resources and charge higher transaction fees.  

Selfish mining happens when miners agree to hide new legitimate blocks and then release them as orphan blocks. The Bitcoin network has not verified these new blocks. This method can lengthen block processing delays and guarantee that fresh blocks are subject to large fees when they are issued to the blockchain. 

Scarcity will undoubtedly contribute to increased Bitcoin buying. FOMO (fear of missing out) cold create a rush to purchase the rare asset, and those who already own it will be in an advantageous position to sell. However, there is also hope that prospective rules will help keep volatility under control. 

Furthermore, if supply stagnation continues to increase Bitcoin's value for the next 100 years, consider this thought experiment: a home worth one Bitcoin now would be worth half a Bitcoin in 10 years, one-tenth of a Bitcoin in 30 years, 0.05 Bitcoin in 40 years, and so on. Such a system would not function in the same way we expect rupees and dollars to, which explains both the excitement and concern about what Bitcoin in its current shape may do to our economic system. 

Bitcoin doesn't just bring scarcity to the digital domain. It offers a predictable monetary policy that can be planned over time, and which differs from the present monetary system in which governments and policymakers can expand the supply of money, as we have seen in recent years. As a result, currency depreciation is impossible in Bitcoin, and its users' purchasing power is safeguarded. In addition to safeguarding people's buying power, Bitcoin's predictable policy allows users to prepare for the future because they can be confident that no one will debase their money. Important societal improvements may be possible through a strong commitment to long-term labour and investment, rather than short-term bets.

The price of Bitcoin in US dollars might be viewed as a lagging reflection of humanity's comprehension of the technology and its revolutionary value proposition. So, while the Bitcoin price may eventually trend to infinity, it will not be a reality until most of the global population or most of the world's money realises it.






	


How Many Bitcoins Are Left to Mine?

[A bill](https://www.nysenate.gov/legislation/bills/2021/A7389) restricting cryptocurrency (crypto) miners' usage of fossil fuels was enacted by the New York State Legislature on Friday. However, the bill can't go into effect unless New York Governor Kathy Hochul signs it.
Due to the complexity of the mathematical problems that must be solved, cryptomining typically demands a large amount of energy to power computer systems. The network of computer systems known as cryptominers competes to solve the challenge first.

According to the Climate Leadership and Community Protection Act, New York must reduce its greenhouse gas emissions by 85% in order to achieve net zero emissions in the state's economy by the year 2050. A two-year embargo on the granting and renewal of permits for facilities that use carbon-based energy to produce electricity for cryptomining operations will be implemented under this bill.
The bill was passed in effort to reduce the amount of energy needed to power crypto mining operations and assist New York State in meeting its goal of reducing emissions. 
Foundry, a digital currency group company, took to social media to express its unhappiness with the bill's passage. The following was included in the statement from Foundry:
Today's approval of a two-year ban on bitcoin mining across the state is disappointing to Foundry. A Rochester-based corporation, committed to creating jobs and boosting the state's economy, believes that this legislation will limit jobs and innovation in New York for many years to come. 


## Crypto mining ban bolsters renewable energy

This ban on crypto mining operations is sure to have a significant impact on the industry. It remains to be seen how crypto miners will adapt to this new regulation. Some may choose to leave New York State altogether, in search of less regulated environments for crypto mining operations. Others may find ways to continue mining crypto, using alternative clean energy sources that don't rely on fossil fuels. We hope it is the latter. 
For more blockchain based news go to [Latest Moni.](/news)


Latest Moni

#MINING

Read the latest Mining news

Mining Farm: A Good Crypto Option?

How to Mine Bitcoin Cash (BHC)

Best Crypto Miner: Top Mining Tools

Free Bitcoin Mining: Experience the Best Games

How Many Bitcoins Are Left to Mine?

Crypto mining ban enacted by New York State Legislature

SEC crypto chronicles- Gary Gensler affirms BTC as commodity

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