Mining Now Glossary

51% Attack

A 51% attack happens when one group has more than 51% of the network’s computing power and uses it to carry out harmful actions, such as double-spending.


A method in the cryptocurrency space where a quantity of a specific cryptocurrency or token is distributed for free to a group of wallet addresses. Airdrops are often used for promotional purposes, community building, or to reward holders of a particular cryptocurrency. They can be planned or spontaneous and are typically conducted by blockchain projects or organizations.


Antminer is a bitcoin and cryptocurrency ASIC miner manufactured by Bitmain, and it comes in various models.

Antminer S9 Series

Antminer S9 Series, renowned as “the legend,” made its debut in 2016 and stands as one of the most durable and enduring ASIC series for Bitcoin mining available in the market.

Antminer S17 Series

Antminer S17 Series, introduced by Bitmain in 2018, is considered one of the less dependable ASIC series for Bitcoin mining.

Antminer S19 Series

Antminer S19 Series represents Bitmain’s most recent generation of ASICs, encompassing models such as the S19, S19 Pro, S19j Pro, S19 XP, and S19 Hydro.

ASIC (Application-Specific Integrated Circuit)

A specialized computer chip designed for a specific purpose. In the context of Bitcoin mining, ASICs are engineered to efficiently and rapidly perform calculations using the SHA-256 algorithm, enabling them to compete with other miners in solving blocks.

ASIC Boost

ASIC Boost, an optimization technique, leverages the fact that Bitcoin block hashes are generated from distinct 64-byte data chunks. While Bitmain was once accused of clandestinely employing it, ASIC Boost is now considered an industry standard.

ASIC Resistant

ASIC Resistance is a strategy adopted by certain communities, such as Monero, to deter ASICs from entering their network. These communities believe that decentralization is better maintained without specialized hardware, although this approach may seem ineffective for most cryptocurrencies. To achieve ASIC resistance, a coin can implement measures like regular hard forks every six months and increasing memory requirements, among others.

Avalon Miner

Avalon Miner serves as the flagship Bitcoin mining product from ASIC manufacturer Canaan, available in multiple models.


A term referring to all cryptocurrencies except for Bitcoin, encompassing alternative crypto coins.


A computer program designed for a specific purpose.


Blockchain is a decentralized digital ledger technology that securely records data, primarily transactions. Blocks of information, each linked to the previous one, create an immutable chain. It’s known for its security, transparency, and resistance to alteration. Utilizing consensus mechanisms, it eliminates the need for central authorities, making it valuable for various applications beyond cryptocurrencies, such as supply chain management and smart contracts, promising trust and reliability in digital record-keeping.

Bitcoin Battery

The term “Bitcoin Battery” was coined by Layer1, a mining company. It essentially acts as the opposite of a typical battery. Instead of storing excess energy, a power plant or grid can consume it on-site, using Bitcoin as the medium of exchange to distribute electricity globally.

Bitcoin Hottub

A “Bitcoin Hottub” is an innovative creation by Jesse Peltan, featuring a hot tub powered by Bitcoin miners utilizing immersion cooling.

Bitcoin Mining Council

The “Bitcoin Mining Council” is a collective of prominent, publicly traded Bitcoin miners and companies. They engage in research related to Bitcoin mining, focusing on aspects like energy consumption, energy sources, and other relevant data points.


Bitmain is a well-known manufacturer of Bitcoin and cryptocurrency ASICs, renowned for producing the Antminer series.

Blind Merge Mining

A technique in blockchain technology where a miner can simultaneously mine multiple cryptocurrencies without revealing their involvement in the secondary blockchain. This allows miners to participate in merge-mining without exposing their primary mining operations.

Block Header

The metadata found within a Bitcoin block, functioning as a summary of that block. It includes information such as its height, hash, timestamp, Merkle root, difficulty, nonce, and the hash of the preceding block.

Block Height

The count of blocks that separate a specific block from the initial block, often referred to as the genesis block.


An individual component of the Bitcoin blockchain. Each block encompasses the hash of the preceding block, transactions, and a value known as a nonce, among other elements.

Block Reward

The “Block Reward” represents newly generated coins on a network. For Bitcoin, the current block reward is 6.25 BTC, and it undergoes a halving every four years.

Block Size

“Block Size” can refer to either the data size in bytes of an individual block or the maximum data limit per block in a blockchain network. For example, Bitcoin’s block size is effectively 2 MB, although theoretically, a block could be as large as 4 MB with the right mix of transactions.

Block Subsidy

“Block Subsidy” encompasses the total rewards that Bitcoin miners earn from a block, including both the block reward and transaction fees.

Block Time

“Block Time” refers to the time interval between the mining of consecutive blocks in a public blockchain like Bitcoin.

Blockwitholding Attack

A “Block Withholding Attack” is a common strategy employed by mining pools. In this attack, one mining pool sends a valid hash rate to another pool without actually contributing to finding a block. As a result, the targeted pool incurs costs for unproductive work, potentially leading to financial difficulties if it operates under a PPS (Pay Per Share) model.


“Brokers” are entities, both companies and individuals, that facilitate the buying and selling of used mining equipment.


The term “Brrr” humorously refers to the sound of a fiat money printer running at full speed, suggesting a rapid increase in the money supply.


“BTCKING555” is an anonymous Twitter account that exposes mining companies they suspect of deceptive practices. They frequently target companies like Bitmain, Ebang, Canaan, Northern Data, and Layer1.

Compatible Wallet

A cryptocurrency wallet that supports a specific coin.

Computational /Computing Power

The speed at which a machine can perform operations.


The arrangement or setup of a system, which can involve hardware, software, or a combination of both.

Consensus Method

The approach used to reach a general agreement among blockchain elements.


 The validation and authorization of data movements within a blockchain network, conducted according to consensus protocols such as Proof of Work, Proof of Stake, or others.


Central Processing Unit, also known as a processor, responsible for most of a computer’s processing tasks.


An abbreviation for cryptocurrency.

Crypto Coin

A unit of digital currency.


A network that enables computers to conduct transactions with each other without the need for a central authority.


A method of securely transmitting and receiving data in a specific format, ensuring that only the intended recipient can manage it. This process involves encryption and decryption.


Canaan is a company specializing in Bitcoin mining and cryptocurrency ASIC manufacturing, renowned for producing the Avalon series.


“Centralization” is a term commonly used when a subset of miners attains significant control over a network, either due to their size or when a single country or jurisdiction dominates a substantial portion of the network. The higher the degree of centralization in mining control, the greater the risk of a 51% attack.


CGMiner is an open-source ASIC miner developed in the C programming language. CGMiner swiftly became the industry benchmark for mining. ASIC manufacturers adopted the open-source code, adapting it to create their own firmware. Since then, CGMiner has become outdated.


“Chips” refer to the components that ASIC manufacturers acquire from foundries like TSMC and Samsung. Manufacturers race to acquire the latest generation chips to enhance mining efficiency. Miners seek these cutting-edge chips to maximize their ability to accumulate Satoshis.

Cloud Hosting

“Cloud Hosting” represents an evolution of cloud mining, where individuals pay upfront to “own” the mining equipment. The responsibility for hosting the machine shifts to the platform’s facility.

Cloud Mining

“Cloud Mining” involves mining farms selling forward hashrate through contracts with specific prices and settlement dates. Anyone can purchase this hashrate and earn the cryptocurrency generated by the hashrate over the contract’s duration.


“Colocation” denotes a data center that hosts machines on behalf of other individuals or entities. Typically, they charge a base rate for electricity or engage in a form of revenue-sharing arrangement.

Controllable Load Resource

A “Controllable Load Resource” is an energy consumer connected to the grid that consumes substantial amounts of energy but can be shut down during periods of high demand on the grid. Examples include Bitcoin miners and data centers.


DApps, or Decentralized Applications, are software programs that run on blockchain networks. They leverage the security and transparency of blockchain technology while operating without a central authority. DApps often use smart contracts and cryptocurrencies for functionality, and they have diverse applications across industries, including finance, gaming, and supply chain management, offering users increased control and privacy.


DeFi, short for Decentralized Finance, refers to a rapidly growing ecosystem of financial applications and services built on blockchain technology. DeFi platforms enable users to access traditional financial services, such as lending, borrowing, trading, and earning interest, without relying on traditional banks or intermediaries. These platforms use smart contracts and cryptocurrencies to create a decentralized and open financial system, offering increased accessibility and transparency to users worldwide.


The distribution of data across a network, eliminating the need for a centralized server and allowing information to move directly from one peer to another (peer-to-peer).

Desktop Wallet

Software installed on a computer’s hardware for managing and accessing cryptocurrency holdings.

Decentralized Exchange (DEX)

A digital marketplace for cryptocurrency trading that operates without a centralized intermediary or third-party authority. DEXs enable users to directly exchange cryptocurrencies with each other using smart contracts and blockchain technology, providing greater security, privacy, and control over their assets compared to traditional centralized exchanges.

Dev Fee

“Dev Fee” refers to the payment made to the firmware operator, typically compensated in the form of hashrate.

Difficulty Adjustment

An automated system that regulates the level of difficulty in solving Bitcoin blocks every 2,016 blocks. These adjustment periods typically span two weeks, depending on the number of miners competing to solve blocks during that time frame. If the block-solving time exceeds or falls below an average of 10 minutes over the course of those two weeks, the algorithm adapts the difficulty accordingly.

Double Spend

“Double Spend” denotes the act of attempting to spend the same cryptocurrency coin twice on a public blockchain, an issue that proof-of-work mining mechanisms effectively prevent.


“Efficiency” measures the amount of power required to generate a specific quantity of hashrate. Miners aim for lower power consumption and higher hashrates to enhance efficiency.

Efficiency Delta

“Efficiency Delta” represents the difference between the hashrate reported by the miner and the hashrate reported by the mining pool.


The term used to describe the four-year interval between halving cycles, during which mining rewards are reduced by half.

Financing Rate

“Financing Rate” signifies the annual interest rate that miners pay for equipment financing, sometimes including debt financing.

Fire Wall

The “Firewall,” particularly the Chinese firewall, results in miners being unable to connect to mining pool servers located outside of China, and vice versa, without experiencing significant efficiency issues.


“Firmware” is software that can be installed onto ASICs to enable functions such as over-clocking and under-clocking.


A “Foundry” is a semiconductor business that supplies chips to ASIC manufacturers, such as TSMC and Samsung.


“FPGA” refers to a semi-flexible miner capable of mining multiple algorithms and having fewer constraints compared to ASICs, albeit with potentially lower efficiency.

Full-Pay-Per-Share (FFPS)

“Full-Pay-Per-Share (FFPS)” represents one of the most common payout methods used by Bitcoin mining pools. It compensates miners with transaction fees and block rewards proportionally based on their hashrate contributions for a specified payout period.


FOMO stands for “fear of missing out,” describes the apprehension or anxiety individuals feel when they believe they may miss a valuable or exciting opportunity, often resulting in impulsive actions or decisions to avoid missing out on something.


Gigabyte, equal to one billion bytes, used as a unit of information.


 It transforms resources like gas into electricity, primarily utilized to power ASICs.


An OG mining farm located in Washington State, which eventually went bankrupt. It’s noteworthy that they also conducted an ICO.


 A graphics processing unit is a specialized electronic circuit employed for mining altcoins and various other applications, including gaming. The primary manufacturers are AMD and Nvidia.

Great Hashrate Migration

This term denotes the dispersion of Bitcoin and cryptocurrency miners from China following the Chinese government’s ban on mining in 2021.

Great Miner Migration

Coined by Alejandro De la Torre and almost appropriated by Edward Evenson, it describes an annual event occurring in October/November. During this period, miners operating in the Sichuan province relocate to other regions in China after the rainy season concludes, and electricity prices are no longer as affordable.

Hardware Wallet

An external hard disk used to securely store a user’s private keys.


A label identifying each device connected to a computer network for electronic communication.


 It represents a miner’s submission to the cryptographic puzzle in order to win Bitcoin, consisting of a combination of letters and numbers.

Halving (or “Halvening”)

This refers to the programmed reduction of the Bitcoin block reward, which takes place approximately every 210,000 blocks, or about every four years. This reduction reduces the total amount of Bitcoin in circulation while simultaneously increasing the demand for the currency.

Hard Fork

 When changes are made to a cryptocurrency’s existing code, both the old and new versions coexist on the network. Consequently, software updates are necessary to conform to the new rules.

Hash Exchange

 A marketplace where sellers (miners) and buyers can trade hashrate.

Hash Wars

 Instances where miners compete to establish the longest chain. The BCH-BSV fork triggered a war when both parties redirected hashrate from Bitcoin to their respective chains.


A Telegram group for discussing financial instruments and markets based on hashrate.


The value of hashrate.


The speed at which a computer (ASIC/GPU/CPU) completes an operation within a cryptocurrency’s code. It is measured in hashes per second.

Hashrate Under Management

The quantity of hashrate managed by a mining pool, colocation, investor group, hash exchange, or hashrate best price execution platform.

High-Performance Computing (HPC)

High-intensity Computational services with high intensity, unrelated to mining.

Hosted Mining

When a mining group purchases ASICs and contracts a third party to host and operate them.


HODL is a playful misspelling of “hold” frequently used in cryptocurrency circles to endorse the strategy of never selling one’s crypto assets. It has retrospectively been interpreted as an acronym for “hold on for dear life.”


 A manufacturer of Bitcoin and cryptocurrency mining ASICs.


Originally referred to high-end firms like Fidelity and SBI but now encompasses any large business entering the mining sector.


Initial Coin Offering, a method for raising funds to launch a new cryptocurrency project.

IP Address

An Internet Protocol address assigned to every device in a computer network.

IP Reporter

A program that displays the IP address of a computer.


Jihan is renowned as the mining-godfather and is credited as the founder and ruler of Bitmain.


The amount of electricity consumed in one hour, measured in kilowatts per hour.


The term “Luck” pertains to a miner’s fortune or probability of successfully securing a block.

When profitability diminishes, higher-cost miners will attempt to salvage some value from their rigs by selling them to lower-cost operators. It is a rare occurrence for ASICs to remain offline for extended periods or be discarded entirely, as long as they can generate a profit at over 1 cent per kWh.


A ledger refers to the decentralized and immutable ledger that records all transactions on a blockchain. It ensures transparency and security of transaction data.

Mainchain Miners

Miners who primarily focus on securing and maintaining the main or primary blockchain of a cryptocurrency network. They contribute their computational power and resources to validate transactions and create new blocks on the primary blockchain, ensuring its security and integrity.

Market Capitalization

An indicator that reflects the relative size of a cryptocurrency, calculated using the formula: Market Cap = Price X Circulating Supply.

Minable Coin

Cryptocurrencies obtained through the mining process as a reward for solving complex algorithms and adding new blocks to the blockchain.


Refers to either the hardware or the individual engaged in cryptocurrency mining.

Miner Extractable Value(MEV)

The profit or value that cryptocurrency miners can extract from the process of ordering and including transactions in blocks. MEV encompasses various opportunities, such as front-running, arbitrage, and transaction reordering, which miners can exploit to maximize their earnings by optimizing the order of transactions within a block.

Mining Reward

The compensation received by cryptocurrency miners for their efforts in securing a blockchain network. This reward typically consists of newly created cryptocurrency coins (block rewards) and transaction fees paid by users for their transactions. Miners receive these rewards as an incentive for their computational work in validating transactions and adding new blocks to the blockchain.

Mining Algorithm

The specific cryptographic algorithm used to mine a particular cryptocurrency, such as SHA-256, Ethash, Scrypt, Cryptonight, and X11.

Mining Calculator

A tool for estimating potential profits from cryptocurrency mining.

Mining Difficulty

The level of complexity miners must overcome within a set timeframe to create a new block.

Mining Hardware

Devices used for cryptocurrency mining, including CPUs, GPUs, ASICs, or FPGAs.

Mining Pool

A collective of miners who combine their computing power to increase their chances of mining a block, with rewards distributed proportionally based on their contributions.

Mining Rig

A collection of high-powered and efficient mining hardware devices.

Mining Software

Software that manages the work of mining hardware, providing statistics such as miner speed, hashrate, fan speed, and temperature.

Mobile Wallet

A software application installed on a mobile device for accessing and managing cryptocurrencies.

Merkle Tree

A cryptographic tree that serves to reduce the size of blocks. Essentially, it functions like a zip drive, trimming down the file, much like leaves are pruned from a tree to reduce its bulk.

When Bitcoin users engage in a transaction, they receive a numerical tag, which is inserted into the lower layer of the Merkle tree. This tree then groups all of these tags together into a more compact unit, which forms the uppermost part of the tree referred to as the root hash. The root hash, containing all the transactions below it, is then merged with the preceding hash and combined with the nonce to create the block header.


It is the procedure involving the use of specialized computer hardware to verify Bitcoin transactions on the Bitcoin network. As compensation for this activity, miners earn fees for confirming transactions as well as newly generated Bitcoin from each solved block.

Machine Slide

Machine Slide refers to the phenomenon where, as profitability decreases, miners with higher operating costs aim to recoup some value from their equipment by selling it to operators with lower operating costs. It is uncommon for ASICs to remain inactive for extended periods or be completely discarded as long as they can remain profitable at rates exceeding 1 cent per kWh.

Management Software

“Management Software” is software that enables you to oversee and manage various aspects of your mining operations, including monitoring and configuration. It has become an essential component of any well-run mining facility.


The “Mempool” serves as a storage area for pending transactions awaiting inclusion in blocks. In a decentralized blockchain like Bitcoin, each node maintains its own mempool.

Merged Mining

“Merged Mining” enables an ASIC to simultaneously mine multiple blockchains. The advantage is that every share submitted by the ASIC contributes to the combined hashrate of both cryptocurrencies, thereby enhancing the security of both networks.


MicroBT is a manufacturer of Bitcoin and cryptocurrency ASICs, known for producing the Whatsminers series.


“Mid-Gen” describes Bitcoin mining ASICs that fall in the middle range in terms of efficiency.


“Miners” can refer to either ASICs or individuals who possess these ASICs. This distinction remains unclear.

Mining Pool

A “Mining Pool” is a collective of miners who collaborate to solve blocks. Under a PPS (Pay-Per-Share) structure, mining pools effectively act as purchasers of hashrate, assuming the mining luck risk in exchange for a discounted expected value.

Mobile Units

“Mobile Units” are portable warehouse units resembling shipping containers, suitable for housing ASICs. They are frequently deployed in remote locations or for smaller-scale mining operations.


“MoQ” stands for Minimum Order Quantity and pertains to the smallest quantity of ASICs that can be ordered from a reseller. This term is sometimes also applicable in hosting services.


“New-Gen” denotes the most recent equipment offered by ASIC manufacturers, known for their superior efficiency in the market.


A 32-bit field found in a Bitcoin block, whose value miners adjust until they achieve a hash that is equal to or less than the current target hash value.


An essential element in a network or blockchain that plays a crucial role in preserving and verifying the network’s reliability and transaction accuracy. Nodes maintain a copy of the blockchain and actively engage in the consensus mechanism, contributing to the network’s security. These nodes can be divided into two main categories: full nodes, which retain the complete blockchain, and lightweight nodes, which depend on full nodes for specific data.


NFTs, or non-fungible tokens, are digital assets that serve as proof of ownership for distinct and indivisible tangible or intangible items. Unlike cryptocurrencies, NFTs are unique and cannot be exchanged on a one-to-one basis, making them ideal for representing ownership of collectibles, digital art, virtual real estate, and other unique assets on blockchain platforms.


It Refers to miners who utilize energy sources that are not connected to the electrical grid.

Oil, Gas and Bitcoin

A Telegram group comprising predominantly North American miners.

Orphan Blocks

Blocks that fail to be incorporated into the blockchain network due to a delay in their acceptance relative to another miner’s block submission. In essence, miners do not receive rewards when another miner beats them to the punch.


The practice of using custom firmware to raise the voltage, thereby increasing the hashrate.

Polkadot Network

A blockchain platform designed to facilitate interoperability and communication between multiple blockchains. Developed by the Web3 Foundation, Polkadot enables various blockchains, or parachains, to connect and share information securely. Its unique consensus mechanism and relay chain provide scalability, security, and flexibility, making it a key player in the blockchain ecosystem.

Payback Period

The estimated number of days it will take for a mining machine to generate enough earnings to cover its cost. Miners may reference this on a revenue basis or in terms of gross mining margin.

Pay Per Last N Share (PPLNS)

Another commonly used payment method that compensates miners based on the percentage of shares they contribute to the total shares (N).


The most prevalent payout method for alternative coin (altcoin) pools. It provides miners with a flat, consistent payout proportionate to their hashrate but does not include transaction fees.

Power Rate

The price of electricity, typically measured in dollars per kilowatt-hour ($ per kWh).


An acronym for “Proof of Stake,” a blockchain consensus mechanism where validators are chosen to create new blocks and validate transactions based on the amount of cryptocurrency they hold and are willing to “stake” as collateral. It’s energy-efficient compared to Proof of Work (POW) and is used by some cryptocurrencies for consensus.


The standard payout method employed by mining pools.

Profit Switcher

The practice of mining multiple blockchains using the same algorithm in order to enhance profitability.

Proof-of-Work (PoW)

Often abbreviated as PoW, it serves as the consensus mechanism used to secure Bitcoin and other leading cryptocurrency networks. Computational power is harnessed to establish consensus and ensure network security.

Prop Mining

Mining operations that are self-hosted and encompass all associated infrastructure.

Proxy Pool

A mining pool that lacks the technical capacity to mine blocks and thus forwards its hashrate to another pool capable of doing so.


The power supply unit used to provide power to an ASIC. It can be either external or, in certain models, integrated.

Public Key

A public key is a unique alphanumeric string that serves as an address or identifier for a user’s cryptocurrency wallet. It is publicly shared and used by others to send cryptocurrencies to the wallet. However, while it can receive funds, it cannot be used to access or control the funds within the wallet. Instead, a corresponding private key is used to sign transactions and provide access to the wallet’s contents. Public keys are a fundamental component of public-key cryptography, which is the basis for securing blockchain networks and ensuring the integrity of cryptocurrency transactions.

Private Key

A private key is a confidential, secret alphanumeric string that is paired with a public key in a cryptocurrency wallet. It is used to sign transactions, providing proof of ownership and control over the cryptocurrency stored in the associated wallet address. Private keys must be kept secure and should never be shared with anyone. Losing or compromising a private key can result in the loss of access to the cryptocurrency held in the wallet, making it a critical piece of information for cryptocurrency holders.

Rainy Season

The period spanning from April to October in Sichuan Province, China, characterized by abundant rainfall, resulting in very affordable hydroelectric power and favorable mining conditions.


 A colloquial term used in the industry to refer to a Bitcoin or cryptocurrency mining device.


Often interpreted as the break-even point. Miners do not necessarily adhere to the conventional Investopedia definitions for this term.


The cryptographic algorithm utilized by Bitcoin, Bitcoin Cash, BSV, and a few other cryptocurrencies.

Sidechain Miners

Miners who primarily operate on a sidechain, a separate and parallel blockchain connected to the main or primary blockchain. These miners validate transactions and create blocks on the sidechain, enabling the transfer of assets and data between the sidechain and the main blockchain while maintaining its own set of rules and features.


Sharding involves dividing a blockchain into numerous identical chains, known as “shards.” These individual shards are capable of processing transactions and executing smart contracts independently and concurrently, leading to improved efficiency and scalability in a blockchain network.

Soft Fork

When modifications are made to the existing code of a cryptocurrency, an old version coexists on the network alongside the new version. In a soft fork, only one blockchain remains valid as users adopt the update.


Cryptocurrencies designed to maintain a stable value by being pegged to a reserve of assets such as fiat currencies (e.g., US dollars), commodities, or other cryptocurrencies. These coins aim to reduce the price volatility often associated with other cryptocurrencies like Bitcoin or Ethereum, making them suitable for use in everyday transactions and as a store of value. Stablecoins provide stability and security while retaining the advantages of blockchain technology for digital payments and remittances.

Stale Block

A Bitcoin block mined simultaneously with another but not included in the longest blockchain history. Its rewards become unspendable, and any transactions within it are returned to the mempool once the network split is resolved.


A mining protocol developed by Braiins, designed to enhance data transfers’ efficiency, reduce physical infrastructure requirements for mining operations, and bolster security.

Stranded Gas

Gas that would have otherwise been wasted through flaring or venting, targeted by companies like Crusoe, Upstream Data, and GAM for Bitcoin mining.

Team Green

Refers to Nvidia miners, often associated with being part of the more favorable mining team.

Team Red

Refers to AMD miners.

Terahash per second

The measurement of the number of hashes a miner can perform in one second, quantified in trillions of hashes.

Transaction Fees

Fees paid by network users, awarded to miners as an incentive for processing and securing transactions.


A passive electrical device that transfers electrical energy between different electrical circuits or multiple circuits. Depending on the source, it is sometimes positioned outside a mining farm before electricity enters the equipment.

Treasury Management

The oversight of a miner’s balance sheet, encompassing positions, liquidation strategies, hedging tactics, lending, borrowing, and other derivative tools.

Tribalistic Miners

Miners who continue to mine on a network even if it isn’t the most profitable use case for their machines. They mine for reasons other than purely seeking profit.


A token represents a unit of value or digital asset issued and managed on a blockchain. Tokens can have various purposes, including representing ownership of assets, enabling access to a platform or service, and facilitating transactions within a specific ecosystem. They are typically created and distributed through initial coin offerings (ICOs), token sales, or other means. Tokens can be fungible (interchangeable with each other, like traditional currencies) or non-fungible (unique and not interchangeable, like collectibles).


One of the largest chip foundries that supplies ASIC manufacturers.

Uncle Blocks

In Ethereum, when two blocks are mined and submitted to the ledger at approximately the same time.

Unconfirmed Transactions

Transactions residing in the Bitcoin mempool, awaiting inclusion in a Bitcoin block by a miner.

Waste Heat

The heat expelled by an ASIC, which can be harnessed and repurposed for various applications, such as heating water, living spaces, or greenhouses.