Cryptocurrency Information Bureau News: Genesis purchases 1000 air-cooled miners! Bitcoin mining begins in Texas! #Bitcoin #Mining #GDA
Video explanation
How are Bitcoins created? Major companies introduce large amounts of the latest machines!
Hello, I'm John! Have you noticed that you've been seeing the word "Bitcoin" more and more in the news and on the Internet recently? Some of you may be thinking, "It sounds complicated..." But don't worry! In this blog, I'll be sharing the latest technology news in an easy-to-understand way for everyone.
Well, today, I would like to introduce you to an interesting development in the world of Bitcoin. A large company has purchased 1000 machines specially designed to generate Bitcoin!
Big News! Genesis Digital Assets Launches 1000 New Mining Machines!
This time, the topic is,Genesis Digital Assets LimitedThis company is one of the most well-known companies in the industry, developing businesses related to digital assets (money and data that have value on the Internet) such as Bitcoin all over the world.
So what did Genesis Digital Assets do this time?
- What I purchased:1000 of the latest "Miner" machines made by a manufacturer called Auradine.
- What is a Minor?These are also called "miners" and are incredibly powerful, special-purpose computers that validate Bitcoin transactions and create new Bitcoins. More on that later!
- What minor?It's a minor type of "air-cooled." Computers get hot when they work hard, right? Air-cooled computers use airflow like a fan to prevent the machine from getting too hot.
- Where to use it?:The 1000 miners purchased will be installed in the company's massive "data center" in Glasscock County, Texas, USA.
- What is a data center?It is a dedicated building or facility that safely stores a large number of computers (called servers) and related equipment and keeps them running stably 24 hours a day, 365 days a year. It is like the heart of Internet services.
- How big is it?:This data center is40 megawatts (MW)Apparently, this facility can use 1 watts of electricity! A megawatt is a unit of power, with 100 megawatt being 1 million watts. A home microwave oven is roughly 1000 kilowatt (40 watts), so XNUMX megawatts is... well, all you need to remember is that it's a huge amount of power! It could potentially require enough electricity to power thousands, or even tens of thousands of average homes.
In other words, Genesis Digital Assets is planning to introduce a large number of state-of-the-art, powerful computers and run them in large facilities with plenty of electricity in order to produce more Bitcoins more efficiently.
What does it mean to "mine Bitcoin"?
Well, I've been using the words "miner" and "producing bitcoins" for a while now, but what does it mean to "mine bitcoins"? Of course, it's not like digging for something with a pickaxe in a gold mine (laughs).
To understand this, you first need to know a little about how Bitcoin basically works.
Bitcoin is a digital currency that allows individuals to exchange money without a central authority such as a bank. The transaction records are stored in a secure database called "Block chainEverything will be recorded in a huge digital transaction ledger called "cryptocurrency," a technology that links transaction records like a chain and allows everyone to share and manage them.
"Mining"This is the process of adding new transaction records (called "blocks") to the blockchain. The people and companies who do this are called "blocks".Miners" and the dedicated computer used for that task is "Miner"
Miners compete to verify whether Bitcoin transactions made around the world are valid and to compile them into new blocks and connect them to the blockchain. At this time, they need to solve very complex calculation problems faster than anyone else. To solve these problems, extremely high-performance computers (mining machines) and large amounts of electricity are required.
The first miner to solve the calculation problem and successfully add a new block receives a reward.New BitcoinThis is called "mining" because it is similar to the process of digging up precious metals from the ground.
This mining process is extremely important to the Bitcoin system and has the following main roles:
- Issuance of new Bitcoins:This is the only way new Bitcoins are generated as rewards.
- Authorizing and recording transactions:It verifies that Bitcoin transactions are correct and records them on the blockchain.
- Maintaining network security:By having many miners compete with each other in calculations, fraudulent transactions and tampering are prevented, and the security of the entire Bitcoin network is increased.
Genesis Digital Assets' deployment of 1000 cutting-edge miners means that the company is looking to expand this important mining operation on a much larger scale.
What this news tells us
This news may seem like a simple “oh, so a big company bought a lot of computers,” but even for those of us who are new to blockchain, there are some interesting points to note.
- Interest and investment in Bitcoin continues:The price of Bitcoin fluctuates, going up and down, but the fact that large companies are investing heavily in the latest equipment like this may be evidence that the technology and mechanisms behind Bitcoin are still attracting attention as a business.
- This could lead to improved stability of the Bitcoin network:The number of new, powerful miners operating could lead to increased processing capacity for Bitcoin transactions and stronger security for the entire network, which is a good thing for Bitcoin users.
- A starting point for thinking about energy consumption:This news also makes it clear that mining requires a large amount of electricity. When you hear "40 megawatt data center," you'll be amazed at its size. Recently, research has been conducted into mining that uses environmentally friendly energy.
A word from John
News about Bitcoin and blockchain is full of technical terms, so at first you might think, "It seems kind of difficult..." and shy away from it. But by comparing each piece of news to something familiar and learning little by little about the mechanisms behind it, I think you'll start to get a better idea of how digital money and new technologies will be involved in our lives and society in the future.
When you think about this latest news, doesn't it make you feel excited just by imagining "a lot of high-performance computers all over the world doing incredible calculations day and night to support the Bitcoin system"? We will continue to deliver easy-to-understand news like this, so please look forward to it!
This article is based on the following original articles and is summarized from the author's perspective:
Genesis Digital Assets Limited Acquires 1000 Air-Cooled
Miners to Mine Bitcoin