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From GPUs to ASICs: Over a Decade of Bitcoin Mining Evolution

⛏️ Explore the fascinating history of Bitcoin mining, from key milestones to its technical evolution

Author

Hector Alvero
January 21, 2025

Welcome to the Rhino Roundup, your weekly dose of industry news, platform updates, educational content, and fun memes in the world of Bitcoin.

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Featured Article

Bitcoin is the world’s largest cryptocurrency by market cap, wallet ownership, transactions, and recognition. Yet many remain unaware of its cryptographic foundation—mining.

Since mining began on January 3, 2009, Bitcoin has maintained 99.99% uptime. What started with hobbyist CPUs has grown into industrial-scale ASIC operations, profoundly shaping Bitcoin’s value and future potential.

Satoshi’s vision and the early days (2009–2010)

When Satoshi Nakamoto mined the Genesis Block on January 3, 2009, using a CPU, mining difficulty was minimal. Anyone could download the Bitcoin code, solve cryptographic puzzles, and earn a 50 BTC reward.

Early mining was more of an intellectual experiment than a commercial endeavor, fostering a loyal community of programmers. They collaborated on forums like Bitcointalk.org, refining and promoting the nascent cryptocurrency.

Enter the GPU Era: A Major Step Forward

As Bitcoin’s user base grew, mining competition intensified. CPUs struggled to keep up, prompting miners to adopt GPUs, which could execute the SHA-256 algorithm far faster.

By 2010, GPUs dominated mining due to superior hash rates and cost efficiency, marking a shift toward commercial operations. Demand for AMD and NVIDIA GPUs soared as miners linked multiple units for higher returns. This led to hardware shortages and increased energy use, driven by Bitcoin’s rising value and mining’s growing profitability.

Curious how the rise of ASIC Bitcoin miners revolutionized the game and built a global industry? Read the full post here to find out more.

Meet the Team

Our COO, Hector Alvero, is on a mission to orange-pill pre-coiners with his Bitcoin wisdom. He’s written countless articles, given inspiring talks, and spread the Bitcoin gospel far and wide.

Fun fact: his work has even been translated into German and turned into a Bitcoin Audible episode for German listeners!

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