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ASIC mining Figure 15: Bitcoin mining using several FPGAs ASIC mining is the fourth generation of Bitcoin mining. Mining today is dominated by Bitcoin ASICs. These ASIC chips are designed, built, and optimized for the sole purpose of mining Bitcoins. There are some big vendors who produce ASIC mining hardware and sell it to the customers. Some of the examples of ASIC mining hardware that are used today are Antminer S9, Terminator T3, Dragonmint T1, etc. Figure 16: Antminer S9 for Bitcoin mining During the process of mining, every miner has to with high electricity cost and excess heat produced by the hardware. The alternate to avoid these issues is using cloud mining since the miner does not have to worry about high electricity cost and excess heat [9]. However, it has a few other limitations like risk of fraud, lower profit and lack of control and flexibility which makes it ineffective to other mining techniques. 21PDF Image | Analysis of Bitcoin Cryptocurrency and Its Mining Techniques
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