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In the past few years, Bitcoin has been a very popular topic, and I'm sure you have heard of, been in a conversation with, or have been investing in Bitcoin. But what is Bitcoin exactly? Bitcoin is a type of cryptocurrency, and there are many different types of currencies out there.

What is Cryptocurrency?

crypto currency word cloud

A cryptocurrency - or crypto, is a digital currency that can buy goods and services using an online ledger to secure transactions. Many companies have their own currencies, which are traded for goods that the company provides. Think of it like chips at a casino or tokens at an arcade. Similar to stocks, the interest in cryptocurrencies is to trade for a profit.

To obtain cryptocurrency, you would usually have to purchase it using real money or mine it.

What is Crypto Mining?

Cryptomining is the process of validating a cryptocurrency transaction. Validating crypto involves solving a complex math problem that is difficult to solve but simple to verify.

Basically, a network of computers called crypto miners to compete with each other to solve the problem first. The miner that solves it first gets a financial reward, which is cryptocurrency. Anyone can become a miner, but the cost of hardware required can be a challenge for most. The cost of power and hash rate is absolutely crucial when it comes to crypto mining.

Immersion Cooling for Crypto Mining

Proudly built in Canada, the Intelliflex™ Liquid Immersion System utilizes the most efficient cooling method for your high-density computing hardware; this modular approach offers a fully integrated, single-point connection solution including immersion tank and associated process and cooling equipment. All modules are sold in combination with the Smart PDU for increased power, control and network management. Each module allows up to 6.0MW of IT load (1,150+ miners per module).

custom power gen crypto mining 04

With best in class overclocking speeds, say no to dust, noise, high temperature and poor efficiencies with traditional air-cooled systems say yes to Intelliflex™ Liquid Immersion Solution!

When you work with us at Custom Power Generator, we facilitate all your crypto mining needs, from behind-the-fence power contracts and installing all your generation assets to the deployment of crypto mining modules. We have the in-house expertise to design, build and deploy your next project. Contact us today for the reliable power and crypto mining infrastructure you need!

Sources:

https://www.techopedia.com/definition/33729/cryptomining

https://www.bbc.co.uk/newsround/57115261