Understanding Bitcoin Mining
Last updated
Last updated
Bitcoin is a decentralized digital currency that enables peer-to-peer transactions without the need for intermediaries like banks. It operates on a technology called blockchain, which ensures secure and transparent transactions.
Bitcoin mining is the process by which new bitcoins are created and transactions are verified on the Bitcoin network. Miners use powerful computers (known as mining rigs) to solve complex mathematical problems. The first miner to solve the problem gets to add a new block to the blockchain and is rewarded with newly created bitcoins.
Security: Mining ensures the security and integrity of the Bitcoin network.
Transaction Verification: Miners verify and process Bitcoin transactions, making them crucial to the functioning of the Bitcoin ecosystem.
New Bitcoin Creation: Mining is the only way to create new bitcoins, which incentivizes participation in the network.
Unstrand leverages wasted energy from various sources such as bio-gas, excess wind, solar, small-scale hydro-power, methane from manure, and agricultural residue to mine Bitcoin. This innovative approach makes electricity extremely cheap, benefiting both miners and energy producers.
Cost-Effective: By utilizing wasted energy, we offer some of the lowest electricity costs in the industry, maximizing profitability for miners.
Environmental Impact: We helps reduce waste by converting it into a productive resource, contributing to a more sustainable environment.
Remote Management: Miners can manage their rigs remotely, allowing them to participate in mining operations in Kenya from anywhere in the world.
Profit-Sharing: The profit from mining is shared as follows: 45% to the energy producer, 45% to the miner, and 10% to Unstrand.
Daily Payments: Earnings are distributed daily over the Lightning Network, ensuring quick and efficient payments.
We plan to offer insurance options for miners to protect against potential losses, ensuring that your future earnings are secured.
