You need access to cheap electricity, a reliable internet connection, and a powerful mining platform to mine Bitcoin from home. The first step to mining Bitcoin at home is to build or buy a mining rig. A mining rig is a computer specifically designed to mine cryptocurrency. In cryptocurrency jargon, mining is the term that designates the work done to open a new block on certain blockchains.
The first miner to solve the cryptographic puzzle called hash receives a cryptocurrency reward. Most people think of cryptocurrency mining simply as a way to create new currencies. However, cryptocurrency mining also involves validating cryptocurrency transactions on a blockchain network and adding them to a distributed ledger. Most importantly, cryptocurrency mining avoids the double spending of digital currency on a distributed network.