Frequently Asked Questions
1
What is mining?

Mining is basically a process of validating transactions in the cryptocurrency world. Just like banks get a fee for processing your credit card payments, miners get a fee for processing cryptocurrency transactions.

The major difference with banking is that there is also a fixed pay for miners, so even if there are not a lot of transactions, miners still get their pay. Imagine government paying banks every day just because they exist. This allows keeping mining profitable even while bitcoin is still not widely adopted.

 
2
Can I buy my own equipment and mine at home?

Though possible, hardly anyone would want to mine bitcoin at home. Mining equipment is not only expensive but also not suitable for home or garage. It is loud and high-power consuming. It works in maximum performance mode 24x7 and needs moving parts to be replaced often. Its portability, price, and loudness allow people to easily find it and steal it.

Mining at home might look like a passive income, but actually requires a lot of time and becomes a business on its own

 
3
What is cloud mining?

Cloud mining is buying a share of the hashrate of a large mining operation. With that, you get a lot of benefits - cheap electricity, no need for replacement parts or watching equipment, etc.

 
4
Is it profitable to mine bitcoin? If Yes, then why do you sell your hashrate?

We are similarly engaged in mining. And we also want to raise profits. This can be done by engaging more people and building better infrastructure.