Mining Bitcoin/Ethereum ...

Before you start mining Bitcoin, it's useful to understand what Bitcoin mining really means, and how Does Mining Create New Bitcoins?

The primary purpose of mining is to allow Bitcoin nodes to reach a secure, tamper-resistant consensus. Mining is also the mechanism used to introduce bitcoins into the system. Miners are paid transaction fees as well as a subsidy of newly created coins, called block rewards. This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system through mining.

Odds are your PC already has the necessary hardware to run as a bitcoin miner and to setup your PC for bitcoin mining should ultimately be a snap, albeit not with any speed when compared with modern purpose built bitcoin miners. Just as Intel and AMD are making faster processers each year, bitcoin miners have evolved from their humble days as just running using the power of your graphics card to current day Application-specific integrated circuit (ASIC) miners which boast up to a few terahashes per second. If you are just trying bitcoin mining out of curiosity, then there is no need to buy any additional hardware. If you are serious about it, however, then there will be some significant initial investment to be made to get your operation started. ASIC miners range from $200 to $1000 or more per unit, and to reach a hashrate that is profitable you will need to invest in many machines. A single ASIC miner is more of a curiosity than anything as the return per month can range from 0.2 bitcoins on the low end and 0.4 bitcoins or more on the high end. This calculates to a range of about $35 per month to $100 per month, before accounting for energy costs. So, just from some initial calculation you can see that the limiting factor on making a profit from mining is definitely your energy bill. The ideal setup for bitcoin mining will ultimately be such that you are able to pay off your initial investment in hardware and monthly energy bill in a reasonable amount of time. No one wants to wait years for an investment to pay off if it even will, so taking these costs into consideration is a must.

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