- Bitcoin miners review and verify previous bitcoin transactions and create new blocks so that the data can be added to the blockchain.
- ASIC Bitcoin miners are electronic circuits designed for the sole purpose of mining bitcoins.
Reviewing Bitcoin, Blockchain, and Mining
Originally, Bitcoin’s creator intended for bitcoin to be mined on central processing units (CPUs)—your laptop or desktop computer. However, Bitcoin ASICs surpassed both CPUs and graphics processing units (GPUs) in terms of both their reduced electricity consumption and greater computing capacity. After gaining traction in mid-2013, when other hardware mining devices started hitting their bottlenecks in mining, Bitcoin ASIC miners have retained their lead.