What Is Cryptocurrency Mining? | Volta Tech NZ's guide to GPU mining.

Updated: Oct 7, 2021

GPU mining involves the use of a gaming computer’s graphics processing unit to solve complex math problems to verify electronic transactions on a blockchain and get rewarded for doing so.

As an example, let's use the cryptocurrency Ethereum (ETH).

When someone is wanting to send an amount of ETH to another person / wallet, a certain amount of calculations or jobs are needed to be completed to verify this transaction. The miner is then rewarded in that currency for doing so.

This is the same for all PoW (Proof Of Work) coins. Normally, to mine a cryptocurrency, digital coins must be built on a blockchain architecture that supports proof-of-work (PoW) mining.

Cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), ERGO, Raven Coin (RVN), Ethereum Classic (ETC), and Dogecoin (DOGE) are examples of coins that can be mined, but these can always be converted to any other coin you desire after being mined on an exchange.

6x RTX 2060 Mining Rig to be sold to customers in New Zealand (NZ) by the Volta Tech team.

The most popular price point to start at has been around the $8000-$11,000 mark, this can earn you around $350-$700 a month once all costs are taken off.

As far as costs go, the only real cost is power. Depending on your area, and power provider your costs will vary. It's definitely worth shopping around to see which power company has the best plan for you. Something as small as a few cents per kwh can impact your ROI in the long-run.

Volta Tech's RTX 2060 Mining Rig has been one of the most popular options for beginner crypto miners in NZ.

As well as the 6700XT rig being a great option for the higher end option.

You can see our FAQ's here - www.voltatech.co.nz/faq

Shop our range here - www.voltatech.co.nz

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