1. What is Bitcoin Mining?

Bitcoin mining is a term used to describe the process of mining bitcoins with certain tools. The people involved in this activity are likened to miners. Use a dedicated mining machine to handle problems related to the block of transactions (blockchain).

After the mining process, the reward received is bitcoin aka block reward. It is estimated that one block of bitcoin will be mined every 10 minutes and the number of bitcoins left in the mine is limited. So miners will have to work hard because for every 210000 bitcoin blocks mined, the reward will be halved. This concept is known as the bitcoin halving.

2. Types of Bitcoin Mining

There are two main methods used to mine bitcoins: Hardware Mining and Cloud Mining.

2.1. Cloud Mining (Cloud Technology)

This is a form of indirect mining through an intermediary organization. Your job is simply to register and pay the contract to the intermediary. They will be the ones to organize, set up the mining rigs and keep it running. The characteristics of this type of mining are as follows.

Advantages

Save money on investment in equipment and machinery.
Can be exploited directly after signing the contract, saving preparation time/
Maintenance cost is cheaper than hardware mining
The hash rate is constant as it is specified in the contract.

Defect

High initial contract value.
Risk of losing money when investing in fraudulent organizations.

2.2. Hardware Mining (mining by hardware)

Contrary to the form of cloud mining. This is a mining method where you will be the one to directly invest in the necessary equipment and tools for mining such as: excavators, network system, facilities.

Advantages

Strengthen your market expertise because you are a direct investor.
Mastering activities, flexibly adjusting and setting specific strategic goals.
The initial cost is cheaper than cloud mining due to the fierce competition of miners.

Defect

Many costs arise: Maintenance fees, electricity, repair fees, etc. Therefore, it requires large capital and is able to withstand financial pressure when the production cost is higher than the mining price in some times.
A certain amount of professional knowledge is required to be able to invest safely and effectively.
Depending heavily on equipment, the life of machines is not high.
Need long term investment.

Here are a few bitcoin mining sites that Coin-Free would like to introduce to you.

Name	Crypto	Type	Info
Tron-Free	BTC, TRX	CPU mining	Read
Cryptotab	BTC	CPU mining	Read
Stormgain	BTC	Cloud mining	Read