The difficulty of
Bitcoin algorithms has been increasing over time, it changes every 2016 blocks. More and more miners entered the market, but the environment always changed towards more difficulty, and this is what made miners change CPUs to GPUs as a main tool, and some time after that, create first ASICs.
ASICs, or application-specific integrated circuits, are usually a pile of video chips connected with each other to combine computational power and mine cryptocurrency more efficiently. But the increasing difficulty led to another hardware scale increase impressive mining farms in vast hangars with...
Read moreI think this approach might be somewhat wrong in my eyes . Bitcoin mining is extensively done in the countries where there is no shortage of electricity .
Yes , indeed a lot of hardware and electricity is associated with bitcoin mining but the broader perspective here is mining of bitcoin for its availability to the parts of world . Talking about the transfer of CPUs into GPUs as a main tool, this is just an another development made for a an effective mining of bitcoin to see some clarification in the algorithms using the chips . This might take some extra energy , but this is also helping to save so much time and efforts .