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Why is mining very expensive? Relate your answer to mining methods.

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Answer:

The surge in mining costs is a result of rising hash rates, which is a measure of a miners performance. A higher hash rate increases the chance a computer has of solving the mathematical puzzle required to earn cryptocurrency, but in doing so, the amount of energy required also goes up.

Mining Methods - There are four main mining methods: underground, open surface (pit), placer, and in-situ mining.

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