51% Attack
A 51% attack occurs when a single entity or group controls more than 51% of a blockchain network's computing power, enabling them to perform harmful actions such as double-spending transactions or censoring blocks.
Airdrop
A promotional distribution where a blockchain project sends free tokens or coins directly to wallet addresses, often to build community, reward holders, or increase awareness.
Antminer
Antminer is Bitmain's flagship series of Bitcoin and cryptocurrency ASIC miners, available in various models and generations.
Antminer S9 Series
Introduced in 2016, the Antminer S9 series is considered one of the most durable and long-lasting ASIC series for Bitcoin mining, often called "the legend".
Antminer S17 Series
Released by Bitmain in 2018, the S17 series is regarded as one of the less reliable generations of Bitcoin ASIC miners.
Antminer S19 Series
Bitmain's latest generation of ASICs (including S19, S19 Pro, S19j Pro, S19 XP, and S19 Hydro models), representing the most advanced and efficient Bitcoin mining hardware from the company.
ASIC
An Application-Specific Integrated Circuit (ASIC) is a specialized chip designed solely for a particular task. In cryptocurrency, ASICs are optimized for efficiently performing the SHA-256 hashing algorithm required for Bitcoin mining.
ASIC Boost
An optimization technique that exploits the modular structure of Bitcoin block hashes to improve mining efficiency. Once controversial when allegedly used covertly by Bitmain, it is now an accepted industry standard.
ASIC Resistant
Design choices (e.g., frequent hard forks, memory-hard algorithms) implemented by some cryptocurrencies like Monero to discourage ASIC dominance and preserve decentralization through CPU/GPU mining.
Altcoin
Any cryptocurrency other than Bitcoin.
Avalon Miner
Canaan's flagship line of Bitcoin ASIC miners, available in various models competing with Antminer and Whatsminer series.
Bitmain
Leading manufacturer of Bitcoin and cryptocurrency ASICs, best known for the Antminer series.
Bitcoin Battery
A concept (coined by mining company Layer1) describing Bitcoin mining as a flexible energy consumer that absorbs excess grid power, effectively acting as a "battery" for distributing electricity globally via Bitcoin.
Bitcoin Hottub
An innovative hot tub designed by Jesse Peltan that uses waste heat from immersion-cooled Bitcoin miners to heat the water.
Bitcoin Mining Council
A voluntary organization of major public Bitcoin mining companies that researches and reports on topics like energy usage, sources, and sustainability in Bitcoin mining.
Blind Merge Mining
A technique allowing miners to mine multiple cryptocurrencies simultaneously without revealing involvement in the secondary chain.
Block
A data structure in the blockchain containing transactions, a nonce, timestamp, Merkle root, and reference (hash) to the previous block.
Block Header
Metadata summarizing a Bitcoin block, including version, previous block hash, Merkle root, timestamp, difficulty target, and nonce.
Block Height
The number of blocks from the genesis block to the current block in the blockchain.
Block Reward
Newly minted coins awarded to the miner who successfully adds a block. For Bitcoin, currently 3.125 BTC (post-2024 halving), halved approximately every four years.
Block Size
The maximum amount of data (in bytes) a block can contain. Bitcoin's effective block size is around 1-2 MB post-SegWit, with a theoretical limit of 4 MB.
Block Subsidy
Total miner compensation from a block, consisting of the block reward plus all transaction fees.
Block Time
The target average time between blocks. Bitcoin aims for 10 minutes.
Block Withholding Attack
A malicious strategy where a participant in a mining pool submits invalid or partial shares to waste the pool's resources without contributing valid work.
Blockchain
A decentralized, immutable digital ledger that records transactions across a peer-to-peer network using cryptographic links (hashes) between blocks and consensus mechanisms.
Brokers
Individuals or companies that facilitate the buying and selling of used or new mining equipment.
Brrr
Humorous onomatopoeia referring to the sound of fiat money printers, implying rapid inflation of money supply.
Canaan
Major Bitcoin ASIC manufacturer known for the Avalon Miner series.
CGMiner
Early open-source mining software written in C that became the industry standard for ASIC mining before becoming outdated.
CPU
Central Processing Unit; general-purpose processor historically used for early Bitcoin mining but now obsolete for profitable mining.
Centralization
Concentration of mining power, control, or network resources in few entities, increasing risks like 51% attacks.
Chip
Semiconductor dies (from foundries like TSMC/Samsung) integrated into ASICs; newer chip nodes improve mining efficiency.
Cloud Hosting
Service where users purchase and own mining hardware but have it hosted and maintained at a remote facility.
Cloud Mining
Renting hashrate from remote mining farms via contracts, without owning or hosting hardware.
Colocation
Data center service hosting client-owned mining equipment, typically charging for power and/or revenue share.
Computational Power
Processing capability of mining hardware, measured in hashes per second.
Confirmation
The process by which transactions are verified and permanently added to the blockchain.
Consensus Method
Protocol (e.g., Proof-of-Work, Proof-of-Stake) enabling network participants to agree on the valid state of the blockchain.
Controllable Load Resource
High-energy consumer (like Bitcoin mining) that can be curtailed during grid peak demand to stabilize electricity supply.
Crypto
Shorthand for cryptocurrency.
Crypto Coin
A native digital currency on its own blockchain, used for transactions and value transfer.
Cryptocurrency
Decentralized digital money secured by cryptography and operating on blockchain technology.
Cryptography
Mathematical techniques for secure communication, data integrity, and authentication; foundational to blockchain security.
DApps
Decentralized applications running on blockchain networks, typically using smart contracts and offering trustless, permissionless services.
DeFi
Decentralized Finance; blockchain-based financial services (lending, borrowing, trading) operating without traditional intermediaries.
Decentralization
Distribution of control and data across a peer-to-peer network, eliminating single points of failure or authority.
Decentralized Exchange (DEX)
Peer-to-peer cryptocurrency trading platform using smart contracts, without centralized custody of funds.
Desktop Wallet
Cryptocurrency wallet software installed and running on a personal computer.
Difficulty Adjustment
Periodic recalibration of mining difficulty (every 2016 blocks in Bitcoin, ~2 weeks) to maintain consistent block times despite changes in total hashrate.
Double Spend
Malicious attempt to spend the same coins twice; prevented by blockchain consensus mechanisms.
Downtime
Periods when mining hardware is offline (maintenance, outages, failures), reducing profitability.
EAL (Evaluation Assurance Level)
Security certification rating (1-7) for IT products under Common Criteria evaluation.
Efficiency
Measure of hashrate produced per unit of power consumed (J/TH for Bitcoin miners); lower is better.
Efficiency Delta
Difference between hashrate reported by the miner hardware and hashrate credited by the mining pool.
Epoch
Four-year period between Bitcoin halvings, marking a mining reward cycle.
FOMO
Fear Of Missing Out; emotional driver causing impulsive buying during market rallies.
FPGA
Field-Programmable Gate Array; reconfigurable hardware used for mining before ASICs dominated, less efficient but more flexible.
FPPS (Full-Pay-Per-Share)
Pool payout method paying miners expected share of block rewards and transaction fees regardless of luck.
Financing Rate
Interest rate paid on loans for purchasing mining equipment or operations.
Firmware
Embedded software on mining hardware enabling features, overclocking, monitoring, etc.
Firmware Customization
Third-party modified firmware unlocking higher performance or features beyond stock manufacturer settings.
Foundry
Semiconductor fabrication plant (e.g., TSMC, Samsung) producing chips for ASIC manufacturers.
GPU
Graphics Processing Unit; used for mining altcoins and previously Bitcoin; main brands are Nvidia ("Team Green") and AMD ("Team Red").
Great Hashrate Migration
Mass exodus of Bitcoin miners from China after the 2021 government ban.
HODL
Intentional misspelling of "hold"; strategy of retaining cryptocurrency long-term regardless of price volatility.
HPC (High-Performance Computing)
Intensive non-mining computational workloads (scientific simulations, AI training).
Halving
Event reducing Bitcoin block reward by 50% every ~210,000 blocks (~4 years) to control supply issuance.
Hard Fork
Backward-incompatible blockchain upgrade creating a permanent divergence into two chains.
Hardware Wallet
Physical device storing private keys offline for secure cryptocurrency management.
Hash
Output of a cryptographic hash function; miners search for valid hashes meeting difficulty target.
Hash Exchange
Marketplace for buying/selling hashrate (e.g., NiceHash).
Hash Wars
Competitive redirection of hashrate between chains (e.g., BCH vs BSV fork).
HashFi
Community and concept around financial products/instruments built on hashrate (Telegram group).
Hashprice
Daily revenue per unit of hashrate (e.g., USD per PH/s/day).
Hashrate
Total computational power performing hashing operations, measured in H/s, TH/s, PH/s, EH/s.
Hashrate Marketplaces
Platforms enabling rental/trading of hashrate without owning hardware (e.g., NiceHash).
Hashrate Under Management
Total hashrate controlled by a pool, hosting provider, or investment group.
Hosted Mining
Third-party facility operates and maintains client-owned ASICs.
Hostname
Human-readable label identifying a device on a network.
IP Address
Unique numerical identifier for devices on a network.
IP Reporter
Tool displaying a device's local network IP address for miner configuration.
Immersion Cooling
Advanced cooling method submerging miners in non-conductive dielectric fluid for superior heat dissipation.
Innosilicon
Manufacturer of Bitcoin and altcoin ASIC miners.
Institutions
Large-scale companies (public or private) participating in Bitcoin mining.
kWh
Kilowatt-hour; unit measuring electricity consumption over time.
Lifecycle Management
Practices maximizing mining hardware longevity and profitability through maintenance, upgrades, and resale.
Luck
Statistical variance in finding blocks relative to expected share of hashrate.
MEV (Miner Extractable Value)
Additional profit miners can capture by ordering, including, or censoring transactions in blocks.
MaaS (Mining-as-a-Service)
Full-service mining offering covering procurement, hosting, and operations.
Machine Slide
Cascade of used miner sales from high-cost operators to lower-cost ones as profitability declines.
Mainchain Miners
Miners securing the primary/native blockchain of a cryptocurrency.
Management Software
Tools for monitoring, configuring, and optimizing large-scale mining operations (e.g., Braiins OS, Foreman).
Market Capitalization
Total value of a cryptocurrency: current price × circulating supply.
Mempool
Pool of unconfirmed transactions awaiting inclusion in a block.
Merged Mining
Simultaneous mining of multiple chains using the same work (auxiliary PoW).
Merkle Tree
Hierarchical hash structure efficiently summarizing and verifying all transactions in a block.
MicroBT
Major ASIC manufacturer known for the Whatsminer series.
Mid-Gen
Mid-range generation of ASIC miners in terms of efficiency and release timing.
Minable Coin
Cryptocurrency rewarded through proof-of-work mining.
Miner
Hardware device or person operating hardware to perform proof-of-work.
Mining
Process of validating transactions and securing the blockchain by solving cryptographic puzzles to earn rewards.
Mining Algorithm
Specific hash function used by a cryptocurrency (e.g., SHA-256, Scrypt, Ethash).
Mining Calculator
Tool estimating profitability based on hashrate, power cost, difficulty, and price.
Mining Difficulty
Parameter determining how hard it is to find a valid block hash.
Mining Hardware
Specialized equipment (ASICs, GPUs, CPUs, FPGAs) for performing proof-of-work.
Mining Pool
Group of miners combining hashrate to increase block-finding probability, sharing rewards proportionally.
Mining Reward
Block subsidy + transaction fees paid to the successful miner.
Mining Rig
Assembled setup of mining hardware (often used for GPU mining).
Mining Software
Program connecting hardware to pools and managing performance/monitoring.
MoQ
Minimum Order Quantity; smallest batch of ASICs purchasable directly from manufacturers/resellers.
Mobile Units
Portable containerized mining facilities for deployment in remote or temporary locations.
Mobile Wallet
Cryptocurrency wallet application for smartphones.
NFT
Non-Fungible Token; unique blockchain asset representing ownership of digital or physical items.
New-Gen
Latest generation of ASIC miners offering the highest efficiency.
Node
Computer running blockchain software, validating transactions and relaying blocks.
Nonce
32-bit number miners increment to vary block header hash until target is met.
Off-Grid
Mining operations powered by sources independent of the main electrical grid.
Orphan Blocks
Valid blocks not included in the longest chain due to network propagation delays.
Overclocking
Increasing voltage/clock speeds beyond stock settings to boost hashrate (at risk of heat/damage).
Overclocking Risks
Potential hardware degradation, overheating, or failure from running miners beyond rated specifications.
POS
Proof of Stake; consensus mechanism selecting block producers based on staked coins.
PPLNS (Pay Per Last N Shares)
Pool payout method rewarding miners based on shares contributed after a block is found.
PPS (Pay-Per-Share)
Pool payout method paying fixed rate per valid share regardless of block luck.
PSU
Power Supply Unit delivering electricity to mining hardware.
Payback Period
Time required for mining revenue to recover initial hardware cost.
PoW (Proof-of-Work)
Consensus mechanism requiring computational work to secure the network (used by Bitcoin).
Power Rate
Electricity cost per kWh, a primary operating expense in mining.
Private Key
Secret code granting control over cryptocurrency funds; must remain confidential.
Profit Switcher
Software automatically switching mining to the most profitable coin on compatible algorithms.
Prop Mining
Proprietary mining; fully self-owned and self-operated infrastructure.
Proxy Pool
Intermediate pool relaying hashrate to a primary pool without direct block-solving capability.
Public Key
Cryptographic address derived from private key, used to receive funds safely.
SHA-256
Cryptographic hash function used by Bitcoin and related chains.
Sharding
Scaling technique dividing blockchain into parallel shards for higher throughput.
Sidechain Miners
Miners operating on secondary chains linked to a main blockchain.
Soft Fork
Backward-compatible blockchain upgrade tightening or adding rules.
Stablecoins
Cryptocurrencies pegged to stable assets (e.g., USD) to minimize volatility.
Stale Block
Valid block becoming obsolete when a competing block extends the chain first.
Stranded Gas
Remote natural gas that would be flared; repurposed for off-grid Bitcoin mining.
Stratum
Efficient mining communication protocol (V1/V2) developed by Braiins.
Team Green
Nvidia GPU miners.
Team Red
AMD GPU miners.
Terahash per Second
Unit of hashrate equal to one trillion hashes per second (TH/s).
Token
Digital asset issued on an existing blockchain, often with specific utility.
Transaction Fees
Fees paid by users to prioritize transaction inclusion; second component of miner revenue.
Transformer
Electrical device stepping voltage up/down for mining farm power distribution.
Tribalistic Miners
Miners supporting a chain for ideological/community reasons despite lower profitability.
Uncle Blocks
Near-simultaneous Ethereum blocks receiving partial reward (pre-PoS).
Unconfirmed Transactions
Transactions broadcast but not yet included in a block.
Waste Heat
Excess heat from miners that can be captured and reused (heating buildings, water, greenhouses).