the ledger of Bitcoin transactions, known as the blockchain, can. Step #2: Select a Mining Pool Once you get your mining hardware, you need to select a mining pool. I wish I had the foresight to just hold onto a few hundred BTC and ETH from years past. So, a hash is a way to verify any amount of data is accurate. The first miner to guess the number gets to update the ledger of transactions and also receives a reward of newly minted Bitcoins (currently the reward.5 Bitcoins). You can calculate your profitability using a Bitcoin mining calculator. I think a lot of this goes back to what happened with Ethereum and Bitcoin this year, with the value going from under 10 per ETH to a peak of over 720 per ETH, and Bitcoin going from under 1,000 to over 17,000. Greens transaction may in fact reach a miner directly, without being relayed through a full node. But dont expect to make any money. A doubling in the Bitcoin price could increase your profits by two.