Mastering Crypto Mining: 3 Key Factors You Need to Know About Mining Rewards
hello everyone I’m Michael from Sharky Ventures LLC and today I’ll be discussing three key factors that influence your Bitcoin mining rewards first and foremost I want to make it clear that I am not a financial adviser any information I share in this video should not be construed as Financial advice I highly recommend conducting your own research before making any investment decisions so what are the three main factors that affect Bitcoin mining rewards there is total Network hash rate bitcoin’s commission schedule and transaction fees I’ll start by explaining total Network hash rate the total Network hash rate is a combination of all minor hash rates that are currently mining for example say there are 1,000 miners on the Bitcoin Network and all of these miners are bitmain ant Miner S21 200 terahash miners if we multiply the amount of miners mining by their hash rate we get a total hash rate of 200,000 terahash if we want to look at the network hash rate today we can see that as of April 23rd 2024 the approximate Bitcoin mining Network cash rate is approximately 650 million terahash this number changes and overtime slowly increases as more and more miners get plugged in now what is bitcoin’s emission schedule and how does that affect rewards Bitcoin emission schedule has to do with how many Bitcoin are being added to the total supply of Bitcoin and how often as of right now every block on this mind has a base reward of 3.125 Bitcoin coins one block gets mined about every 10 minutes so every 10 minutes 3.125 Bitcoins are being distributed to bitcoin miners that are successful in solving the Bitcoin block how do transaction fees affect Bitcoin mining earnings when you send any portion of Bitcoin to a different wallet you pay a transaction fee this transaction fee gets added to the current bitcoin emissions reward of 3.125 every 10 minutes the total block that is mined is worth the base reward of 3.1 25 plus any transaction fees that were charged to people sending their Bitcoin overall all three of these factors are important to understand when thinking about Bitcoin mining rewards if you have questions regarding Bitcoin mining Rewards please reach out to us so that we can answer your questions
Welcome to our channel! If you’re a crypto miner or interested in learning about cryptocurrency mining, you’re in the right place. In this video, we’ll dive deep into the world of crypto mining and discuss three key factors that every miner should know about: Total Network Hashrate, Emissions Schedule, and Transaction Fees.
Whether you’re a seasoned miner or just getting started, understanding these factors is essential for success in the world of crypto mining.
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