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This enables a mining hardware manufacturer to buy the chips in volume, and then customize them for bitcoin mining before putting them into their own equipment.

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Mining is the extraction of valuable minerals or other geological materials from the earth, usually from an orebody, lode, vein, seam, reef or placer deposit.These deposits form a mineralized package that is of economic interest to the miner. Ores recovered by mining include metals, coal, oil shale, gemstones, limestone, chalk, dimension stone, rock salt, potash, gravel, and clay.

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Mining can either be a solitary venture or you can join a mining 'pool', where a number of people combine their processing resources and all take a share of the rewards.

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Consequently, ASIC Bitcoin mining systems can solve Bitcoin blocks much quicker and use less less electricity or power than older bitcoin mining hardware like CPUs, GPUs or FPGAs. As Bitcoin mining increases in popularity and the Bitcoin price rises so does the value of ASIC Bitcoin mining hardware.

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