ASIC

ASIC stands for application-specific integrated circuit, which is a gadget made specifically for mining cryptocurrency.

The majority of crypto mining was done on CPUs and GPUs in the early days – in fact, Bitcoin was built explicitly to be mined on traditional PCs.

However, by the mid-2010s, computational power limitations and the expenses associated with energy usage have made it difficult to undertake successful mining operations using ordinary devices.

The potential profitability of a certain ASIC is determined by a number of fundamental elements. They are as follows:

1. The maximum number of hashes that the device can produce per second.
2. The network’s overall hash rate.
3. The worth of the currency that is being mined.
4. Consumption of energy per hash generated
5. The hardware’s original purchase price