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While there are lots of beliefs that you need to have a huge, expensive setup to mine Bitcoin at home, that’s not entirely true.  While the odds are pretty slim to make money mining bitcoin as a small at-home miner, it provides an excellent way to learn more about bitcoin, and you never know, you could still end up finding a block and receiving that 6.25 BTC block reward.  In this guide, you will learn what Bitcoin mining is, how it works. and how you can mine at home. What is Bitcoin Mining?  Bitcoin mining is the process through which Bitcoin transactions are processed, new blocks are added to the Bitcoin blockchain, and new units of Bitcoin are introduced into circulation.  Mining is a technical process that involves the use of computational power – commonly referred to as hash power – via specialized mining hardware to solve complex calculations. Bitcoin miners contribute extensive hash power and compete against each other t...

The Bitcoin mining sector experienced a significant revival after the bear market of 2022. However, the escalated energy usage and expenses associated with mining operations have raised alarms for various governments. While certain regulators are implementing strategies to enhance the efficiency of mining, others are grappling with heightened production costs for each Bitcoin. A recent CoinGecko report revealed that concerning household electricity expenses, Europe encompasses nine out of the ten lowest-ranking countries where Bitcoin mining faces the least favorable economic conditions. The report further reads, “The average household electricity cost to mine 1 Bitcoin is $46,291.24, which is 35% higher than the average daily price of 1 BTC in July 2023 [$30,090.08].“ The study also indicated that a mere 65 nations yield profitability for individual Bitcoin miners when considering only household electricity costs. Out of these, 34 nations are situated in Asia. Europe had a m...