Owner of cryptocurrency mining company explains how it works



IDAHO FALLS – Cryptocurrency has become an increasingly popular investment option in the last several years.

A local company capitalizes on this trend by mining for it.

Braxton Ball is the operations manager and co-owner of T-Ball Miners, a company that has been hosting miners for the last six years in an Idaho Falls warehouse. The warehouse houses a large network of computers that process cryptocurrency transactions around the world.


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“Just like Visa has a data center that processes U.S. dollar transactions, Bitcoin transactions are processed with Bitcoin miners. As a reward, people that mine Bitcoin get paid in Bitcoin,” Ball tells EastIdahoNews.com.

Bitcoin is just one type of cryptocurrency T-Ball deals with. Others include Ethereum, Litecoin, Dogecoin and Zcash.

Each computer is equipped with a mining unit that processes these digital transactions, which are added to a worldwide pool and distributed among each miner.

“The miners are trying to solve a math equation, and it’s called a block. When they solve a block, it makes the next block in the blockchain,” says Ball. “We connect our miners with miners around the world, and we all work together to solve the same equation at the same time.”

Each miner is rewarded, depending on how much work they put into solving the equation, he says, and there’s a monthly fee to do it. Without miners, Ball says cryptocurrency transactions would not be possible. See what it’s like in the video player above.

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21 thoughts on “Owner of cryptocurrency mining company explains how it works

  • April 8, 2022 at 10:54 am
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  • April 8, 2022 at 10:54 am
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    So let’s say you buy $4000 of Bitcoin sent it to there address, and your supposed to mine about $40000 worth of Bitcoin but there and upgrade fee and then and huge tax of $5000 to withdraw the Bitcoin, is it safe to say this person got scammed

    Reply
  • April 8, 2022 at 10:54 am
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    This is really cool, but I feel it is simply privatizing currency and giving power over monetary policy to a those with resources. Effectively, the supply side is controlled by those who have huggge mining operations. I wonder if there is a way to reduce the supply of bitcoins? And quite frankly, due to anonymity, we don't know exactly who all the miners are…I mean, a drug cartel could invest in a mining warehouse and effectively launder large amounts of money.

    Reply
  • April 8, 2022 at 10:54 am
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  • April 8, 2022 at 10:54 am
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  • April 8, 2022 at 10:54 am
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  • April 8, 2022 at 10:54 am
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    Everyone on this YouTube is a scam but unfortunately when I came across is service he help me with everything work with them.🏷

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  • April 8, 2022 at 10:54 am
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    How does the use of so much power effect the power grid in times of need? Will it make rates go up for non-business customers? I lived in NY and I remember a local co-op had trouble providing homes with power because so many miners came to the area.

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  • April 8, 2022 at 10:54 am
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  • April 8, 2022 at 10:54 am
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    Thank you sir hacklord004onte!egram for the 1 Bitcoins Script uses a Data structure that can be thought of as a linear structure,, represented by a physical stack or pile. Items at the top of the stack can be added (pushed) or removed (popped) in a “Last In,, First Out (LIFO)” queue

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  • April 8, 2022 at 10:54 am
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    Mining is great but finding miners is not that esay. I buy it from IMINERS and they are insane. I can say company is awesome. My recommendation for them. You talk with them for everything.

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  • April 8, 2022 at 10:54 am
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    How can I contact them to offer my consulting services? That lil baby datacenter is a mess, theres so much that can be done to improve it, bring temps down, and cut overall costs.

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  • April 8, 2022 at 10:54 am
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    What's with all the spam in the comments?

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  • April 8, 2022 at 10:54 am
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    Interesting! I had no idea!

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  • April 8, 2022 at 10:54 am
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    I wouldn’t have cleared all my loans if I hadn’t trusted, they just tripled my deposit……

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  • April 8, 2022 at 10:54 am
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  • April 8, 2022 at 10:54 am
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    WORDS ARE NOT ENOUGH TO EXPRESS MY GRATITUDE TOWARDS YOUR KINDNESS TO OUR FAMILY 247EXTRATECH🪐COM WE ALL SAY THANK YOU VERY MUCH MAAM…

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  • April 8, 2022 at 10:54 am
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    WORDS ARE NOT ENOUGH TO EXPRESS MY GRATITUDE TOWARDS YOUR KINDNESS TO OUR FAMILY 247EXTRATECH🪐COM WE ALL SAY THANK YOU VERY MUCH MAAM…

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