A Bitcoin Mining RigGlitter Technology Ventures Pvt. Ltd.

Presented by : Nishchal Bhole

CONTENTS

o Introductiono Objective/Motivationo Bitcoin Transaction Workflowo Architecture and Designo System Requirementso Coin Mining Proposalo Constraints, Assumptions and Dependencieso Conclusion and Future Scopeo Reference Material

Introduction

Cryptocurrency: - A digital or virtual currency that uses cryptography for security.

- No physical appearance and generally called as “cryptocoins”.

- There exists many cryptocurrencies such as Bitcoin, Litecoin, Ethereum,

Monero etc.

- Has limit of creation.

Introduction(Contd...)

Bitcoin: - A digital, decentralized cryptocurrency created in 2009 by Satoshi

Nakamoto.

- Abbreviated as “BTC”, or less frequently “XBT”.

- Total 21 Millions BTC will be created.

- Based on Blockchain technology.

Introduction(Contd...)

Blockchain technology: - A continuously growing list of records which are linked and secured by

cryptography.

- Enables to carry out transactions of digital currency from one individual to

another.

- Consists of: 1. Private key cryptography2. Peer-to-peer network3. Platform(blockchain protocol)

Introduction(Contd...)

Blockchain Block Diagram

Introduction(Contd...)

Bitcoin Mining: - Transaction information distributed within the bitcoin network is validated

and stored on the blockchain.- Used to describe the processing and confirmation of payment on the

bitcoin network.- Anyone can do mining by solving transactions with strong computational

power.- Miners(users/clients of bitcoin) compete with each other.- It is possible to online buy and sell bitcoins.

Introduction(Contd...)

Bitcoin Mining

Objective/ Motivation

Objective: - To build a powerful mining rig and mine bitcoins.

Motivation: - Observing the continuous growth in value of bitcoins and considering

its future scope.

- Desire to earn great profit.

Bitcoin Transaction Workflow

Architecture and Design

A Mining Rig Architecture

System Requirements

Operating System:

To start mining, you can use any of the following operating system that is suitable for you:● Windows OS(Win7/Win8/Win10)● Linux OS● MAC OS

Environment Required:● An enough cool space for a set up(a room or a godown)● Power supply at cheaper cost or solar panel electricity generator.● High speed internet broadband connection.

System Requirements(Contd...)

Software Requirements:

● Standard Bitcoin Client: Enables your system to connect to internet and interact with the bitcoin clients. (Ex.- Bitcoin Core).

● Bitcoin Mining Program: To start bitcoin mining. (Ex.- GUI Miner).● Mining Pool: Join a suitable mining pool(Ex.- Slush’s

pool:mining.bitcoin.cz).● Bitcoin Software Wallet: To store your earned. (Ex.- Multibit).● Mining Calculator: To calculate your expected profit in mining process.

(Ex.- bitlockers.com/miningcalculator).● Buy or Sell Bitcoins: www.coinbase.com

System Requirements(Contd...)Hardware Requirements:● Mining Motherboard: With sufficient number of PCI-Express slots.● CPU: Intel’s Dual core, Quad core, Core i3/i5/i7 or pentium or celeron, etc.● RAM: 8 GB and above.● HDD: Minimum of 320GB and above.● Keyboard, mouse, monitor: One piece each.● Ethernet cable, nylon tags: As per your requirement.● Graphics Processing Unit(GPU): Recommended to use GPUs of high hash rate.● Power Supply Unit(PSU): 1000Watt for Motherboard and 1500Watt and above for

GPUs.● PCI-E Riser cables:Equal to number of GPUs you are using.● Cooling fans: Depending on your system size(number of GPUs).

Coin mining proposal

● Check out top 5,6 cryptocoins and start mining those to make mining profitable. You can check the coin market at: www.coinmarketcap.com

● According to current scenario, you can start mining some of these coins:○ Bitcoin○ Ethereum○ Bitcoin Cash○ Litecoin○ Dash, etc..

● First do detailed research for mining process and requirements of the particular coin that you want to start mining.

Constraints, Assumptions and Dependencies

Constraints:● Challenge of managing required environment.● Getting hardware devices at affordable cost.

Assumptions:● Availability of expert technical resources.● Uninterrupted internet connection.

Dependencies:● Continuous power supply.● Efficient performance of hardware devices without failure.

Conclusion and Future Scope

As per the complete discussion in this presentation:

● Cryptocurrency- growing very fast throughout the world and will be having a tremendous value in the upcoming future.

● Coin mining- it will turn into a better idea to start mining bitcoins or any other coins from today.

● Mining rig- a person having more powerful mining rig will be having owned large number of coins for himself.

● Converting a mining rig into a large mining farm in future will lead to a great profit for a miner.

So, have a good luck and start mining soon!

Reference Material

1. https://bitcoin.org/en/2. https://bitcointalk.org/en/3. https://en.bitcoin.it/wiki/Comparison_of_mining_pools4. https://www.coindesk.com/information/how-to-set-up-a-miner/5. Mining hardware requirements

Thank You !

Glitter Technology Ventures Pvt.Ltd., Nagpur, 440009.

Product Development and Solution Provider

www.glitterlabs.com

9730255246INFO@GLITTERLABS.COM