What is crypto mining?

In short, crypto mining is how new units of cryptocurrency ---usually called coins---are created. As you can imagine, this type of mining doesn't involve callused hands gripping pickaxe handles. Instead, it's computer processors that do all the hard work, chipping away at complex math problems.

Can I use an ASIC miner for cryptocurrency?

No—you can’t use an ASIC miner for anything other than mining digital currencies. You also cannot mine more than one form of cryptocurrency with an individual piece of hardware. If you buy one specifically for Ethereum, you can only mine Ethereum.

How to calculate cryptocurrency mining profitability?

When it comes to cryptocurrency mining profitability, it all comes down to balancing the initial cost of the Bitcoin mining machine, its power draw, and its hash rate. Once you have these figures, it’s easy to calculate your gains based on Bitcoin’s block reward and your electricity cost by using this mining calculator.

Which miners handle scrypt-based cryptocurrencies?

Miners that handle the Scrypt-based cryptocurrencies include the most popular Antminer L3++ with a hash rate of 596 MG/s (mega hashes per second) or the Innosilicon A4+ with 620 MG/s. In addition, the Innosilicon A6 LTCMaster, with a speed of up to 1.2 Giga hashes per second (GH/s) is a worthwhile investment, although it may come at a higher cost.