Why It’s Nearly Impossible to Make Money Mining Bitcoin


The people actually making money mining Bitcoin—or even just trying to make money—aren’t using desktop PCs or even powerful graphics processing hardware meant for gaming PCs. Instead, these people are using dedicated hardware optimized specifically for mining Bitcoin. These hardware devices are known as Application Specific Integrated Circuits (ASICs). This distinguishes them from CPUs and GPUs, which are general purpose computing devices that can perform a lot of tasks. ASICs are specifically designed to be as efficient as possible at a specific application—in this case, mining Bitcoin.