online managed mining plans for Home Miners
Not all at-home mining is profitable, so it’s important to do your homework before diving in. Our company’s founder has created a special web platform at MinerBeast.com which introduces home mining plans with cheap energy prices for home miners. The site provides simple guides, and features mining companies offering plans which include the purchase of a mining machine (called an ASIC) and a turnkey service which helps you to start mining profitably from your house.
Current electricity rates in deregulated states such as Texas, which are driven primarily by natural gas commodity prices, are currently too high for DIY self-miners to mine profitably from home. Until grid pricing becomes feasible for home miners, MinerBeast will focus on highlighting small, respected home mining companies (which operate what’s called “co-location” facilities in the industry); these mining companies have special electricity rates that are low enough to mine profitably.
MinerBeast also procures cheap energy for co-location companies and the site includes deep-dive information for commercial Bitcoin operators, such as detailed guides and videos on flare gas mining, demand response information for grid mining, e-learning energy courses from Enerdynamics and much more.
What is Crypto Mining?
If you’re a newbie to crypto mining, let’s start by noting that cryptocurrency is a virtual currency, not a physical currency like a dollar bill, but it can be exchanged for dollars. A cryptocurrency’s “coins” (such as Bitcoin) are digital files, and home crypto miners store and transfer the value of the coins online.
In the most basic terms, crypto mining involves computers across the globe verifying transactions as they occur on a digital ledger known as a blockchain (think of it as digital bookkeeping); the creation of a “block” on the blockchain occurs when a transaction is verified. When your computer solves (or contributes through a pool to solving) an equation, a new block is created and added to an existing chain of blocks (the block chain), and a new coin is “minted”. The crypto miner receives a coin of the currency which is mined as a reward (the block reward) for successfully mining and validating a block on the block chain.
You can mine crypto coins from your home using a personal computer with a graphic card, or simply by signing up for an online service which allows you to enroll in a plan that allows you to mine remotely with a special high-speed computer located at a distant crypto mining operation (called a co-location).