The idea of finding how cryptocurrency is obtained is one that few people truly understand. The concept of mining is something which is still not always clear to the average user. There are many factors to consider when it comes to mining, and it can be quite complex. In this article, we will attempt to break down the ideas behind the technology in the simplest way possible.
What is Mining?
The term "mining" can be accurate in some aspects, but misleading in others. Often, it is assumed that miners either break down, make, or find Cryptocurrencies. In reality, the miners are supposed to solve equations which look after the integrity and security of a crypto network's distributed blockchain ledger which tracks every transaction. In return for completing those calculations, miners are given reward in the currency that they have mined.
There are some similarities to how other resources — such as silver — would be mined: the available supply is gradually getting larger as there is more put into the mining. For cryptocurrency, more resources are required as times progresses as it takes longer and the electricity and power are required to increase.
Reuters
What Kind of Equipment do People Use for Crypto Mining?
In terms of computers, powerful, fast machines that cost large amounts of money are required in order for mining to be efficient and profitable. The appropriate mining software must also be installed.
There are numerous options to select for crypto mining. Certain algorithms run on CPUs and GPUs whilst others work on ASICs.--it all depends on the currency. Cryptonight is used for CPUs and GPUs (this is the case with Ethereum) whilst Bitcoin is mined with ASICs.
When Bitcoin and other currencies were starting out, it was possible to mine the algorithms with a simple PC. This involved downloading (or even compiling) the wallet for a specific coin and the right mining software. Then, you would set up the mining software to join the crypto network you choose and let CPU/GPU/ASIC compute the equations. You would want to find the currency before others and every time you find a block, these calculations would restart, so having hardware that can search potential solutions with speed would be useful.
These days, a lot of people do not bother running the wallet software. It takes up a vast amount of disk space, network bandwidth, and isn't needed for mining. Downloading the full Bitcoin Blockchain currently needs about 145GB of disk space, which will take a while to download.
Can I Mine Bitcoin?
As a hobby in your spare time, cryptocurrency mining can create a minor income of roughly a dollar or two each day. Certain currencies are easier to mine than others, and it is possible to make a smal amount of money in the long run.
As a second income, mining is not an effective road to take to make vast amounts of money for the average person. The profits from mining cryptocurrency only become large when someone is willing to invest $3000-$5000 hardware costs at the start, at which time you can earn $50 per day or even more.
Joining a Mining Pool
Mining pools are groups which have several miners who divide their resources to mine together and share their rewards. Because it is getting harder to process and mine every single day, it makes sense to divide up the tasks and work in groups of people to make sure that one is able to get the most effective due to the venture.
The rewards are divide up by how much computational power each individual provides in the mining pool so everyone is looked after fairly, and given the right rewards for their contribution.
The host of a mining pool server normally charges a nominal fee so that can be an aspect to look out for. There is also the question of payouts and security to consider, however, large and popular mining pools such as Antpool or Slush can be worth as they are used by large amounts of people and more likely to be reliable.
Environmental impacts of cryptocurrency mining
The amount of energy that is used by the computers is a massive problem for the environment in the sense that it shows no sign of decreasing. Power and electricity are required, and they can quite easily be used for something else. To use all the power for a cryptocurrency seems counterproductive in some respects given that there are already regular financial options available.
There are talks of using greener means of mining, such as using hydropower to mine the currency, as well as looking at renewable resources. However, at the moment, this is conjecture and it is questionable whether it would be possible to actually make the shift towards green energy in the near future.
The idea of finding how cryptocurrency is obtained is one that few people truly understand. The concept of mining is something which is still not always clear to the average user. There are many factors to consider when it comes to mining, and it can be quite complex. In this article, we will attempt to break down the ideas behind the technology in the simplest way possible.
What is Mining?
The term "mining" can be accurate in some aspects, but misleading in others. Often, it is assumed that miners either break down, make, or find Cryptocurrencies. In reality, the miners are supposed to solve equations which look after the integrity and security of a crypto network's distributed blockchain ledger which tracks every transaction. In return for completing those calculations, miners are given reward in the currency that they have mined.
There are some similarities to how other resources — such as silver — would be mined: the available supply is gradually getting larger as there is more put into the mining. For cryptocurrency, more resources are required as times progresses as it takes longer and the electricity and power are required to increase.
Reuters
What Kind of Equipment do People Use for Crypto Mining?
In terms of computers, powerful, fast machines that cost large amounts of money are required in order for mining to be efficient and profitable. The appropriate mining software must also be installed.
There are numerous options to select for crypto mining. Certain algorithms run on CPUs and GPUs whilst others work on ASICs.--it all depends on the currency. Cryptonight is used for CPUs and GPUs (this is the case with Ethereum) whilst Bitcoin is mined with ASICs.
When Bitcoin and other currencies were starting out, it was possible to mine the algorithms with a simple PC. This involved downloading (or even compiling) the wallet for a specific coin and the right mining software. Then, you would set up the mining software to join the crypto network you choose and let CPU/GPU/ASIC compute the equations. You would want to find the currency before others and every time you find a block, these calculations would restart, so having hardware that can search potential solutions with speed would be useful.
These days, a lot of people do not bother running the wallet software. It takes up a vast amount of disk space, network bandwidth, and isn't needed for mining. Downloading the full Bitcoin Blockchain currently needs about 145GB of disk space, which will take a while to download.
Can I Mine Bitcoin?
As a hobby in your spare time, cryptocurrency mining can create a minor income of roughly a dollar or two each day. Certain currencies are easier to mine than others, and it is possible to make a smal amount of money in the long run.
As a second income, mining is not an effective road to take to make vast amounts of money for the average person. The profits from mining cryptocurrency only become large when someone is willing to invest $3000-$5000 hardware costs at the start, at which time you can earn $50 per day or even more.
Joining a Mining Pool
Mining pools are groups which have several miners who divide their resources to mine together and share their rewards. Because it is getting harder to process and mine every single day, it makes sense to divide up the tasks and work in groups of people to make sure that one is able to get the most effective due to the venture.
The rewards are divide up by how much computational power each individual provides in the mining pool so everyone is looked after fairly, and given the right rewards for their contribution.
The host of a mining pool server normally charges a nominal fee so that can be an aspect to look out for. There is also the question of payouts and security to consider, however, large and popular mining pools such as Antpool or Slush can be worth as they are used by large amounts of people and more likely to be reliable.
Environmental impacts of cryptocurrency mining
The amount of energy that is used by the computers is a massive problem for the environment in the sense that it shows no sign of decreasing. Power and electricity are required, and they can quite easily be used for something else. To use all the power for a cryptocurrency seems counterproductive in some respects given that there are already regular financial options available.
There are talks of using greener means of mining, such as using hydropower to mine the currency, as well as looking at renewable resources. However, at the moment, this is conjecture and it is questionable whether it would be possible to actually make the shift towards green energy in the near future.
Crypto Industry in 2025: Five Defining Trends – And One Prediction for 2026
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
