Markets

The cost of mining for cryptocash

Share
VIDEO8:0908:09
How to mine for cryptocash – and how much it costs
Key Points
  • Bitcoin topped $58,000 for the first time in February.
  • Ether, the world's second-biggest cryptocurrency, has also hit record highs this year.
  • It is easier than ever to buy a small fraction of one bitcoin using an app such as Coinbase.
  • Investors can also mine for the digital currency.

In this article

Cryptocurrencies have been on a tear lately.

Bitcoin topped $58,000 in February for the first time. Ether, the world's second-biggest cryptocurrency, has also hit record highs this year.

Even dogecoin — a cryptocurrency invented as a joke that does not have the same serious function and institutional backing as bitcoin — surged more than 50% in the last month after a tweet from Tesla CEO Elon Musk.

It is easier than ever to buy a small fraction of one bitcoin using an app such as Coinbase. However, that's not the only way investors can get their hands on cryptocash.

Investors can also mine for the digital currency. CNBC went to a blockchain production studio in Brooklyn to learn how to mine for bitcoin's biggest rival, ether, before the Covid-19 pandemic started.

Watch this video to learn how to mine for cryptocash and to find out how much it costs.