Bitcoin hit 1 trillion market cap this year. This has inspired some bitcoin operations to expand. The ban on mining in China has caused a mass exodus, and some mining operations are moving their facilities to the United States. We go to Rockland, Texas to a look inside the largest bitcoin mine in North America. Operated by Whinstone U.S., is this large mine one of the first of many?

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In this video, I explain to you what Cryptocurrency Mining is in plain English and I also go over the main impacts on your profits, different types of rigs, and as well as EIP-1559 and ETH 2.0.

⌚ Timestamps:
00:00 – Intro
00:33 – Cryptocurrency Explained
02:10 – Mining Explained
02:23 – Proof Of Stake vs Proof Of Work
02:23 – Proof Of Work In-Depth
04:02 – Different Types Of Mining Rigs
06:04 – Different Types Of Mining Services
09:03 – What Impacts Your Mining Profits
14:50 – Giveaway Winners – CONGRATS!
16:17 – EIP-1559 & ETH 2.0
19:01 – Wrap-up & Outro

Congrats to the giveaway winners!!

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⭐Ways To Buy Crypto: https://youtu.be/G6y2g_DSpaw
⭐Where To Store Your Crypto: https://youtu.be/Ltr_Llcg6GY

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• Coins Market Cap: https://coinmarketcap.com/
• Mining Pool Stats: https://miningpoolstats.stream/
• Hashrate Explanation: https://coinsutra.com/hash-rate-or-hash-power/
• DAG Size Calculator: https://minerstat.com/dag-size-calculator
• Ethereum Block Rewards: https://etherscan.io/blocks?p=1
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Block Inc (SQ.N) Chief Executive Officer (CEO) Jack Dorsey admitted that he was building a bitcoin crypto mining system. This is in line with the company’s vision to expand its business not only to payments, but also to the realm of new technologies such as blockchain.
“We are officially building an open bitcoin mining system,” Dorsey wrote via his personal Twitter account.

The former Twitter boss had previously considered plans to build the project since October 2021. Block General Manager for Hardware Thomas Templeton said the project is aimed at making mining more distributed and efficient in everything from purchasing to setup to maintenance to mining.

“We are intrigued because mining goes far beyond the creation of new bitcoins. We see it as a long-term need for a fully decentralized future,” Templeton wrote via his personal Twitter account, bitcoin operates on a proof-of-work (PoW) model, where miners must compete to solve complex puzzles to validate transactions.

The process is not easy, requires a lot of energy and computer power, which is not cheap. The computer itself, along with other equipment can also be very expensive. In addition, there are a number of other technical weaknesses and challenges in the mining community that Block seeks to address, including mining rig availability, high price, reliability and power consumption.