You need computer technology to mine cryptocurrencies. Cryptocurrency mining is basically the confirmation of transactions in the blockchain network. We will explain it to you with a simple example.

Tomas wants to send 1 BTC from America to his sister Monica in the Czech Republic. The moment Tomas opens his wallet on the phone, enters his sister’s BTC address and confirms the sending of the transaction, the transaction is sent to the network and it goes through several hundred thousand mining machines. These machines then verify, by performing mathematical tasks, whether Tomas really has 1 BTC which he can send to Monica together with other information such as the amount, or the address of the recipient and sender. For different cryptocurrencies, the block sizes vary. As soon as the
machines confirm the transactions, they include it in the block of several other transactions and they are entered in the Public Ledger as completed. At this point, Monika already has 1 BTC in her BTC address, and miners who have confirmed this entire transaction are rewarded for “mined” (in fact, “verified”) one whole block of confirmed transactions.

We mine cryptocurrencies (with the exception of bitcoin) on specially adapted computers with one to six high-performance graphics cards (GPUs) called “Rig”.

Rig consists of one construction, motherboard, RAM memory, PC power supply, processor, “x” number of graphic cards and SSD Disk with mining software. We connect all these components correctly, install software, optimize the performance and consumption of graphics cards and the machine can start mining optimally.

The advantages of rigs over ASIC machines (Machines designed solely and only for the purpose of extracting a given cryptocurrency, e.g. Bitcoin) are the following:

1. 1. With rigs you can mine many cryptocurrencies with different algorithms.
   Over time, you can always either add or subtract Graphics Cards and affect the performance
   of the entire mining rig.
2. Rigs have a longer service life, lower failure rates and higher reliability.
3. The rigs have also a very good aftersales value, as they consist of classic
4. PC components and therefore have a wide range of uses, and most importantly, especially at
   this time, there is an extreme demand for these components that will only grow.

Yes and no. There is no definite answer to this question, as profitability depends on several factors that need to be considered.

The most important factor is the price for electricity consumption in CZK per 1 kWh. So, the less you pay for electricity, the more you can earn by mining.

Other factors include machine cooling, the cost of the cryptocurrency you are mining, power consumption, rent, and GPU optimization.

If you decide to have your machines managed by us, you will not have to deal with these factors and you will be able to focus only on the current rate of cryptocurrencies and watch your cryptocurrency portfolio grow.

Bitcoin is the first cryptocurrency to see the light of day on August 31, 2008, when it was introduced by an unknown creator or group of creators under the pseudonym Satoshi Nakamoto.

It is a virtual currency that is decentralized and therefore no state, bank, corporation or individual has control over it. It works on a system called Blockchain, which collects transactions into so-called blocks and then confirms them using the enormous computing power supplied by computing units (computers) located around the world.

The price of Bitcoin is influenced purely by supply and demand.

The advantages of using Bitcoin are:

• Fast payment
• Significant anonymity of users
• The cheapest and fastest way to send large and small amounts of money across continents.
• Growth potential of Bitcoin value.
• Secure storage of value for money.