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The process of crypto mining is a bit complicated, but in its simplest terms, it involves using computers to solve complicated math problems. The first miner that is able to solve the problem ...
Cryptojacking is the act of exploiting a computer to mine cryptocurrencies, often through websites, [1] [2] [3] against the user's will or while the user is unaware. [4] One notable piece of software used for cryptojacking was Coinhive, which was used in over two-thirds of cryptojacks before its March 2019 shutdown. [5]
Numerous companies developed dedicated crypto-mining accelerator chips, capable of price-performance far higher than that of CPU or GPU mining. At one point, Intel marketed its own brand of crypto accelerator chip, named Blockscale .
GPU mining is the use of Graphics Processing Units (GPUs) to "mine" proof-of-work cryptocurrencies, such as Bitcoin. [1] Miners receive rewards for performing computationally intensive work, such as calculating hashes, that amend and verify transactions on an open and decentralized ledger.
Cloud mining is the process of cryptocurrency mining utilizing a remote data center with shared processing power. [1] Cloud mining has been used by ransomware groups and scammers to launder cryptocurrency. [2] This type of cloud mining enables users to mine bitcoins or alternative cryptocurrencies without managing the hardware.
[7] [8] Mining of cryptocurrencies that use scrypt is often performed on graphics processing units since GPUs tend to have significantly more processing power (for some algorithms) compared to the CPU. [9] This led to shortages of high end GPUs due to the rising price of these currencies in the months of November and December 2013. [10]
Bitmain's first product was the Antminer S1 which is an ASIC bitcoin miner making 180 gigahashes per second (GH/s) while using 80–200 watts of power. [8] Bitmain as of 2018 had 11 mining farms operating in China. [7] Bitmain was involved in the 2018 Bitcoin Cash split, siding with Bitcoin Cash ABC alongside Roger Ver. [9]
Intel Blockscale was a brand of crypto-mining accelerator ASIC sold by the U.S. chip manufacturer Intel. The Blockscale product debuted in June 2022, and was cancelled by Intel in April 2023. [1] [2] Intel has stated that it will continue to supply chips to existing customers until April 2024. [3]
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