Bitcoin Course | Big Picture Basics 3.1 - Mining Basics

“Buy the corn or grow the corn”
The strength or capability of each miner is denoted by its hashpower, often expressed in terms of $/TH (Dollars per Terahash). This price point isn’t arbitrary. A miner’s efficiency – its ability to turn electricity into Bitcoin – directly impacts its market value. An optimally efficient machine can take 1 kWh of electricity and generate a more significant Bitcoin amount compared to its less efficient counterparts.

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This video is for educational and informational purposes only and should not be considered as financial advice or an investment recommendation.
The opinions expressed herein are solely those of the presenter and do not reflect the views of Hashpower Academy. Information is provided ‘as is’ and without warranties, either expressed or implied. We do not guarantee its accuracy or completeness. Investing in cryptocurrencies involves significant risk and should be undertaken only by individuals who can afford potential losses. Viewers are advised to conduct their own research and consult a qualified financial professional before making any investment decisions.

Video Transcript:

[Music] welcome to module three of the big picture Basics this is where we discuss the physical side of Bitcoin mining in module 4 we’ll talk about the digital side but let’s start with the physical so to recap we in module one discussed the generation of electricity module 2 was the transfer of that electricity through our physical networks the grid and so Bitcoin mining Hardware what is it what does it do why do people buy it well the short answer is why would you pay the market price for Bitcoin if you could produce your own with electricity at a lower price and so that’s essentially what a Bitcoin miner does he builds a farm to grow his own [Music] Bitcoin

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