Last Updated on: 14th February 2021, 12:35 pm
ASIC stands for Application-Specific Integrated Circuits. An ASIC mining rig is essentially a computer specifically designed to quickly perform one specific task over and over. ASIC technology has made it faster to mine bitcoin while operating more efficiently than GPU mining rigs. ASIC miners can only mine the cryptocurrency that it was designed for.
Vincent Nyagaka is a Professional Trader, Analyst & Author. He has been actively engaged in market analysis for the past 7 years. He has a monthly readership of 100,000+ traders and has taught over 1,000 students since 2014. Vincent is also an experienced instructor and public speaker. Check out Vincent’s Professional Trading Course here.