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Mining equipmentare specializedminingdevices that are designed and optimized to mine cryptocurrencies. They are typically called ASIC machines (application-specific integrated circuit). They are the mostefficientand most effective devices to mine cryptocurrencies, however, they cost a lot of money to procure.

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DataMining. Dataminingis the process of analyzing data to find previously unknown trends, patterns, and associations in order to make decisions. Generally, dataminingis accomplished through automated means against extremely large data sets, such as a data warehouse. Some examples of datamininginclude:

FAQ: NSA's dataminingexplained. As political concern grows over the National Security Agency's data-miningproject,CNETNews.com answers some questions.

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The miner is a participant in the process that uses the hash rate of theequipmentto create a block and receive rewards. With increasing difficulty, workefficiencydecreases, which forces us to look for additional ways to earn money. One of the solutions is tosellthe hash rate, ensuring diversification and reducing the risks of such activities.

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Such a chip can be 1,000 times moreefficientat Bitcoinminingthan the chip in your PC, so in today’s Bitcoinminingenvironment, it’s go ASIC or go home! For high-difficulty cryptocurrencies, such as Bitcoin, the idealminingenvironment is one with: Low hardware costs: Thoseminingrigs aren’t free.

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MiningCost Service continues to be a useful reference on a wide range of topics for early stage mine planning through to ‘fill the gaps’ on more detailed studies.MiningCost Service provides an independent source for information onequipment, quantities and cost for a significant number ofminingmethods and range of production rates.