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50 to 100 times faster and consumed much less power per unit of work. During the winter of 2011, a new industry sprang up with custom equipment that pushed the performance standards even higher. FPGA miners used much less power than CPU’s or GPU’s and made concentrated mining farms possible for the first time. These ASIC machines mine at unprecedented speeds while consuming much less power than FPGA or GPU mining rigs. Several reputable companies have established themselves with excellent products. They have only minimal requirements for other normal computer applications. Consequently, ASIC Bitcoin mining systems can solve Bitcoin blocks much quicker and use less less electricity or power than older bitcoin mining hardware like CPUs, GPUs or FPGAs.
As Bitcoin mining increases in popularity and the Bitcoin price rises so does the value of ASIC Bitcoin mining hardware. As more Bitcoin mining hardware is deployed to secure the Bitcoin network the Bitcoin difficulty rises. This makes it impossible to profitably compete without a Bitcoin ASIC system. Furthermore, Bitcoin ASIC technology keeps getting faster, more efficient and more productive so it keeps pushing the limits of what makes the best Bitcoin mining hardware. For those not interested in operating the actual hardware then they can purchase Bitcoin cloud mining contracts. Being listed in this section is NOT an endorsement of these services. There have been a tremendous amount of Bitcoin cloud mining scams.
Hashflare offers SHA-256 mining contracts and more profitable SHA-256 coins can be mined while automatic payouts are still in BTC. Genesis Mining is the largest Bitcoin and scrypt cloud mining provider. Genesis Mining offers three Bitcoin cloud mining plans that are reasonably priced. Hashing24 has been involved with Bitcoin mining since 2012. They have facilities in Iceland and Georgia. Minex is an innovative aggregator of blockchain projects presented in an economic simulation game format.