Compass Mining

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Activity overview

Latest activity by Compass Mining
  • Compass Mining created an article,

    What is merged mining?

    Merged mining is the process of mining for more than one blockchain network at the same time. The same mining activity used to solve blocks and add transactions to one blockchain can be simultaneou...

  • Compass Mining created an article,

    7 tips for spotting and avoiding Bitcoin mining scams

    Bitcoin mining is more popular than almost ever before, which means miners need to protect themselves and their bitcoins more carefully than ever. Scammers are everywhere. Use this checklist as a g...

  • Compass Mining created an article,

    How to start mining bitcoin: A step-by-step guide.

    Everyone can mine bitcoin. But not everyone realizes that. Here's how to start mining bitcoin. Anyone who wants to mine their own bitcoins can follow this simple five-step process with Compass. To ...

  • Compass Mining created an article,

    What is a mining farm?

    Bitcoin mining facilities – or farms – are large data centers constructed to power thousands of mining machines. These facilities emerged as mining hardware became more specialized and power requir...

  • Compass Mining created an article,

    What is cloud mining?

    Cloud mining is a method for individuals to participate in mining without owning or maintaining mining hardware or facilities. Cloud mining companies will offer purchase agreements for part of thei...

  • Compass Mining created an article,

    What is a mining pool?

    A mining pool is an organization of miners who combine their individual hashing power. Pooling hash power to increase the probability of solving each new block and claiming its reward. Software co...

  • Compass Mining created an article,

    What is mining difficulty?

    Difficulty is a relative value that represents the amount of effort that miners need to generate to solve new blocks and claim their block rewards. It’s conceptually similar to Google’s search engi...

  • Compass Mining created an article,

    How many bitcoins can I mine?

    On average, 900 new bitcoins are issued per day. To estimate how often an individual miner will solve a new block and claim its reward, the Bitcoin network’s total hashrate can be compared to an in...

  • Compass Mining created an article,

    What is Proof-of-Work?

    Proof of Work (PoW) is a process that requires miners to expend energy solving a sort of puzzle for each block added to the blockchain. After it’s complete, the “work” of solving new blocks can be ...

  • Compass Mining created an article,

    What is hashrate?

    Hashrate is one of the most commonly referenced metrics in bitcoin mining. But what is it? As the term suggests, the Bitcoin network’s hashrate is simply the estimated rate of total hashes generate...