123Miners is the first company to refurbish Bitcoin miners and other crypto miners to combat E-waste
LELYSTAD, THE NETHERLANDS, May 6, 2022 /EINPresswire.com/ — 123Miners today announced the launch of its new company and e-commerce platform. 123Miners is the first E-commerce company that focuses on refurbishing Bitcoin and other crypto miners, combating E-waste and unutilised digital capital. Due to the crypto mining ban currently being enforced in China, Kazakhstan and now Russia, many “old” crypto miners are not being utilized. In addition to E-waste, miners shutting down production have halted the creation of new capital through digital currencies.
Refurbished Bitcoin miners can be obtained at a lower cost. Bitcoin mining is now incredibly competitive, no longer being mined on single laptops. It would be extremely hard to earn Bitcoin by solo mining with just one miner. That is why people commonly join cloud mining pools, sharing multiple machines, to turn Bitcoin mining into a collective process.
“I believe that new digital economy can unleash a tremendous amount of opportunities for people from all over the world to participate and prosper,” said the CEO of 123Miners, Harvey Blom. “123Miners is dedicated to helping create a more transparent and equal society for generations to come through PoW (Proof of Work). PoW and PoS can play a vital role to solve some of the world’s problems. This digital capital should be used to improve communities around the world and help develop new sustainable energy sources.”
Blom added, “With the Bitcoin mining process, the calculations that are being solved are so complex that they require specialized hardware, consuming an incredible amount of electric energy. Because of this, many people consider Bitcoin to be a currency that is backed by energy itself or that uses too much energy. In our opinion, crypto mining should be based on a mix of sources of renewable energy and we need to make sure that crypto mining is done sustainably and it brings value to the local stakeholders.”
Bitcoin Mining Explained
The definition of Bitcoin mining simply means using specialized hardware called Bitcoin miners to generate bitcoins. Technically, mining for Bitcoin utilizes an algorithm called proof of work. Bitcoin mining continues to be one of the best ways to earn passive income with cryptocurrency. Despite the high cost of Bitcoin miners, in the long term, mining BTC can be extremely profitable. People buy expensive hardware and pay huge energy bills to mine Bitcoin because it is simple and takes very little time and effort. Verifying transactions are rewarded with BTC incentives.
A Bitcoin miner consists of multiple graphics processing units that utilize multiple powering and cooling systems. In order to mine Bitcoin, a Bitcoin miner requires specialized hardware called bitcoin miners, mining rigs or Application-Specific Integrated Circuit (ASICS).
All participants in a mining pool agree to combine the power of their miners, called hashing power. In return, they all receive a fraction of the rewards proportionate to the hashing power they contribute, which enables them to earn passive income at a stable rate.
Learn more about 123Miners at https://123miners.com.