A
A
4 terms
Algorithm (Mining)
Core concept
The cryptographic hash function a blockchain uses to validate blocks. Bitcoin uses SHA-256; Litecoin uses Scrypt; Kaspa uses kHeavyHash. Your ASIC miner must match the algorithm of the coin you want to mine — a SHA-256 Bitcoin miner cannot mine Kaspa.
ASIC Miner
Hardware
Application-Specific Integrated Circuit miner — hardware engineered exclusively for one algorithm. ASICs are 10,000–100,000× more efficient than GPUs for their target algorithm. Leading brands: Bitmain (Antminer), MicroBT (Whatsminer), IceRiver.
Air Cooling
Cooling
The standard cooling method for ASIC miners — high-speed fans push air through the device to dissipate heat. Most home miners use air-cooled units. Trade-offs: noise (65–80 dB) and dust buildup requiring regular cleaning.
Antminer
Brand
Bitmain's line of ASIC miners — the most widely deployed Bitcoin mining hardware in the world. Current flagship models include the Antminer S21 Pro and S21 XP (18 J/TH). See all Antminer models.
B
B
4 terms
Bitcoin Halving
Economics
Every 210,000 blocks (~4 years), the Bitcoin block reward is cut in half. The April 2024 halving reduced rewards from 6.25 → 3.125 BTC per block. Next halving expected ~2028. Halvings reduce new supply and have historically preceded major price increases.
Block Reward
Economics
The total Bitcoin a miner receives for successfully mining a block: the subsidy (currently 3.125 BTC) plus all transaction fees. The block reward is the primary income source for Bitcoin miners.
Block Time
Core concept
The average time between new blocks on a blockchain. Bitcoin targets 10 minutes. If blocks are found faster, difficulty increases — keeping block time stable over time.
Breakeven Point
Finance
The moment when total mining revenue equals total investment (hardware + electricity + hosting). After breakeven, all mining income is net profit. Time to breakeven depends on hashrate, efficiency, electricity price, and Bitcoin price.
C
C
2 terms
Coinbase Transaction
Technical
The first transaction in every Bitcoin block, minting new BTC and collecting all transaction fees for the block. Completely unrelated to the Coinbase exchange.
Confirmations
Technical
The number of blocks mined after the block containing your transaction. More confirmations = higher security and finality. Most exchanges require 3–6 confirmations for BTC deposits.
D
D
2 terms
Mining Difficulty
Core concept
Controls how hard it is to find a valid block hash. Bitcoin adjusts difficulty every 2,016 blocks (~2 weeks) to maintain a 10-minute block target. As more hashrate joins the network, difficulty rises — meaning individual miners earn less per TH/s.
Difficulty Adjustment
Core concept
Bitcoin's automatic recalibration every 2,016 blocks. If the previous period produced blocks faster than 10 minutes, difficulty increases. Slower than 10 minutes, it decreases. This stabilises Bitcoin's monetary supply schedule.
E
E
2 terms
Efficiency (J/TH)
Key metric
The most important spec when comparing ASIC miners: Joules of electricity consumed per Terahash. Lower J/TH = more efficient = more profitable. In 2026, top-tier miners achieve 15–18 J/TH; home miners typically 20–25 J/TH. Efficiency directly determines long-term profitability.
Electricity Cost
Finance
The dominant ongoing expense in mining, expressed as cost per kWh. Residential EU rates average €0.15–0.30/kWh; industrial €0.05–0.10/kWh. Mining is most profitable below €0.08/kWh. Always factor electricity cost into ROI calculations before buying hardware.
F
F
2 terms
Firmware
Software
Low-level software controlling ASIC operation, including fan speed, frequency, and voltage. Third-party firmware (Braiins OS, vnish) unlocks undervolting, overclocking, and advanced monitoring. Always flash firmware only from trusted, official sources.
FPGA Miner
Hardware
Field-Programmable Gate Array — a reprogrammable chip that can be configured for different mining algorithms. More flexible than ASICs but significantly less efficient. Used for smaller altcoins before dedicated ASICs exist for that algorithm.
G
G
3 terms
GH/s (Gigahash per Second)
Units
One billion hash calculations per second. 1,000 GH/s = 1 TH/s. Modern Bitcoin ASICs operate at hundreds of TH/s — making GH/s a legacy unit for Bitcoin mining, though still current for some altcoin ASICs.
Goldshell
Brand
Manufacturer of compact, quieter ASICs designed for home mining environments — including models for LTC/DOGE (HS5), KAS (KA3), and other algorithms. See Goldshell miners.
GPU Mining
Hardware
Using graphics cards to mine cryptocurrencies. Versatile but far less efficient than ASICs for SHA-256 Bitcoin. Post-Ethereum merge (2022), GPU mining profitability dropped sharply. Still viable for some altcoins. See GPU miners.
H
H
3 terms
Hashrate
Core concept
The number of hash calculations a miner performs per second. Higher hashrate = more chances to find the next block. Measured in TH/s for individual miners; Bitcoin network total exceeds 800 EH/s in early 2026. Your earnings are proportional to your share of total network hashrate.
Hash Function
Technical
A mathematical function that converts any input into a fixed-length output. Bitcoin uses double SHA-256. The output is unpredictable — miners try billions of inputs per second to find a hash meeting the current difficulty target (starting with enough zeros).
Heat Management
Operations
A 3,500W ASIC produces roughly the same heat output as a 3,500W electric heater. Some home miners channel this heat into living spaces in winter, effectively reducing net electricity cost. Proper ventilation is essential to prevent hardware damage.
I
I
2 terms
IceRiver
Brand
Manufacturer specialising in KAS (Kaspa) and altcoin ASIC miners. Their KS-series made Kaspa mining accessible to home miners. See IceRiver miners.
Immersion Cooling
Cooling
Submerging ASIC miners in non-conductive dielectric fluid. Benefits: near-silent operation, 20–30% more hashrate via safe overclocking, 50%+ longer hardware lifespan, zero dust. Cost-effective at 5+ units or where noise is a primary constraint.
J
J
1 terms
J/TH (Joules per Terahash)
Key metric
How many joules of electricity are consumed per trillion hash calculations. A miner rated 20 J/TH at 100 TH/s consumes 2,000W. Lower J/TH always wins on long-term profitability at any given electricity price. See also: Efficiency.
K
K
2 terms
Kaspa (KAS)
Cryptocurrency
A Proof-of-Work cryptocurrency using the kHeavyHash algorithm. Notable for its blockDAG structure enabling near-instant confirmations. Popular with home miners due to lower hardware cost compared to Bitcoin ASICs.
kWh (Kilowatt-Hour)
Units
The standard unit of electricity consumption. A 3,500W ASIC miner consumes 3.5 kWh/hour = 84 kWh/day. At €0.15/kWh that's €12.60/day in electricity costs. Always write kWh — not "kw/h" or "KWH".
L
L
1 terms
Litecoin (LTC) Mining
Cryptocurrency
Litecoin uses the Scrypt algorithm and is commonly merge-mined with Dogecoin (DOGE) — earning both simultaneously at no extra energy cost. Requires dedicated Scrypt ASICs (e.g. Antminer L9, Goldshell HS5).
M
M
4 terms
Merge Mining
Strategy
Mining two compatible cryptocurrencies simultaneously with the same hardware and energy. The most common example is LTC + DOGE via Scrypt ASICs — both cryptocurrencies are earned with zero additional power consumption.
Mini Miner (Home Miner)
Hardware
Compact ASIC designed specifically for residential use — quieter (40–55 dB), runs on standard household power (220–240V, 16A circuit). Examples: Antminer S21 Mini, NerdAxe. See all mini Bitcoin miners.
Mining Pool
Core concept
A cooperative where miners combine their hashrate to find blocks more frequently and share rewards proportionally. Popular pools: Foundry USA, AntPool, F2Pool, ViaBTC. Fees typically 1–2%. Provides consistent daily income vs solo mining's lottery.
Mining Farm
Operations
A large-scale facility housing hundreds or thousands of ASIC miners with cheap industrial electricity, dedicated cooling infrastructure, and 24/7 operations staff.
N
N
3 terms
NiceHash
Platform
A hashrate marketplace — point your ASIC at NiceHash and get paid in Bitcoin regardless of what algorithm buyers want. Simple setup, but typically 5–15% lower earnings than direct pool mining due to marketplace spread.
Noise Level (dB)
Operations
Industrial ASICs produce 65–80 dB — roughly vacuum cleaner level. Mini/home miners: 40–55 dB (comparable to a normal conversation). Immersion-cooled setups: near-silent (<30 dB).
Nonce
Technical
A 32-bit number that miners increment with each hash attempt. When all ~4 billion nonce values are exhausted without finding a valid hash, the miner adjusts other block header fields and cycles through again — billions of times per second.
O
O
2 terms
Overclocking
Tuning
Running ASIC chips above their stock frequency to increase hashrate. Comes with higher heat and power consumption. Usually achieved via third-party firmware (Braiins OS, vnish) or manufacturer's own tuning modes. Increases hardware wear.
Orphan Block
Technical
A valid block not accepted by the network because a competing block from another miner propagated first. The miner who produced the orphan receives no reward. Mining pools absorb this risk by diversifying across blocks.
P
P
5 terms
PH/s (Petahash per Second)
Units
One quadrillion hash calculations per second = 1,000 TH/s. Large mining operations typically measure output in PH/s; the Bitcoin network total is measured in EH/s (Exahash — 1,000 PH/s).
Pool Fee
Finance
The percentage a mining pool charges for its services. Typically 1–2%. A 1% fee on 1 BTC mined per month = 0.01 BTC to the pool. Some pools offer 0% fee but only pay you when you personally find a block.
Proof of Work (PoW)
Core concept
Bitcoin's consensus mechanism requiring miners to expend real computational energy (electricity) solving cryptographic puzzles to add blocks. Security derives from this energy cost — attacking the network would require >50% of global hashrate.
Profitability
Finance
Daily net profit = (Your TH/s ÷ Network TH/s) × daily BTC issuance × BTC price − electricity cost. Use asicminersprofitability.com for live calculations with current difficulty and BTC price.
PSU (Power Supply Unit)
Hardware
Converts AC mains to DC for ASIC chips. Most modern ASICs have integrated PSUs. When purchasing separately: ensure wattage ≥ 120% of miner draw, rated for 220–240V (European standard). Underpowered PSUs can damage hardware.
R
R
1 terms
ROI (Return on Investment)
Finance
Days to recover hardware cost from net mining profit. Example: €3,000 miner earning €15/day net = 200-day ROI. Always model multiple scenarios: BTC price ±50% and network difficulty +20–30% per year. ROI under 12 months is generally considered good.
S
S
3 terms
SHA-256
Technical
Secure Hash Algorithm 256-bit — the cryptographic hash function at the core of Bitcoin's Proof of Work. SHA-256 ASICs can also mine Bitcoin Cash (BCH) and Bitcoin SV (BSV). They cannot mine Scrypt, Ethash, or kHeavyHash coins.
Solo Mining
Strategy
Mining without a pool — if you find a block you keep the full 3.125 BTC reward (~€240,000+). At 200 TH/s against today's difficulty, you'd statistically find one block every ~400 years. Effectively a lottery. Contrast with pool mining.
Stratum Protocol
Technical
The standard communication protocol between ASIC miners and mining pools. Configure your miner with the pool's Stratum URL, your wallet address as the username, and any password. Stratum V2 (2024) improves efficiency and miner control.
T
T
2 terms
TH/s (Terahash per Second)
Units
One trillion hash calculations per second — the standard measurement unit for modern Bitcoin ASICs. More TH/s = proportionally more Bitcoin earned, assuming the same efficiency (J/TH).
Transaction Fee
Economics
Fee paid by Bitcoin senders for including their transaction in a block. Goes entirely to the miner who finds that block, in addition to the block subsidy. As subsidy declines over halvings, transaction fees become an increasingly important miner income source.
U
U
1 terms
Undervolting
Tuning
Running ASIC chips below factory voltage to reduce power consumption — typically achieving 10–20% power savings with less than 3% hashrate loss. Requires compatible third-party firmware. May void the manufacturer warranty. Increases chip longevity.
V
V
1 terms
vnish Firmware
Software
Popular third-party firmware for Bitmain Antminers that enables per-chip voltage tuning, advanced undervolting, overclocking profiles, and detailed dashboards. Download only from the official vnish.online website — fake versions exist and can brick hardware.
W
W
3 terms
Wallet (Bitcoin)
Software
Software or hardware that stores the private keys needed to spend your Bitcoin. Always use a wallet you control (not an exchange) as your mining pool payout address. If the exchange is hacked, your mining earnings are at risk.
Watt (W) / Power
Units
The rate of electricity consumption. A 3,500W miner uses 3.5 kWh per hour. EU home circuits are typically rated 16A / 3,680W maximum — miners drawing over 3 kW should have a dedicated 32A circuit to avoid tripping breakers.
Whatsminer
Brand
MicroBT's Bitcoin ASIC line — alongside Antminer, the dominant SHA-256 mining hardware globally. The M60S and M66S series are among the most efficient miners available in 2026. See Whatsminer models.
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