In the past few years mining for cryptocurrency has really expanded into many methods. Three main divergences in the industry are Asic, GPU, and Cloud Mining.
Asic mining is a very specific type of mining using specialized equipment called Asic Miners. Currently there are three big players in the creating of these miners. They are Bitman, Innosilicon, and Halong Mining.
GPU mining is a little less complicated when it comes to the equipment and is not quite as effective as Asic mining, yet the industry has skyrocketed over the past year with the explosion of individuals mining for Ethereum. GPU mining has split into two as well. AMD and NVIDA have taken over the industry as the types of GPU’s to use. You can also add your CPU to some mining scripts, but the focus are on AMD and NVIDA graphic cards to mine.
Then we have a method of mining that is open to nearly everyone, even in places that electricity makes inefficient do to the high costs involved. Right now with Bitcoin going to the moon, Cloud mining has come back as an alternative that nearly everyone should try. I like the low entry level that Hashflare is offering and giving me the ability to reinvest my profits daily. Compounding, compounding, compounding! Make your crypto work for you! Split a $1000 over each of their contracts and then push the profits to the contracts that perform the best for you.
Do you know what coins are the most profitable and what methods are used to mine them?