Bitcoin (CCC:BTC) rallied in 2020 as it nearly quadrupled in price from $8,000 in January 2020 to above $31,000 in late December. It reached a new all-time high above $34,000 in 2021. An indirect way to gain from this price appreciation is to consider crypto mining stocks to buy.
The term crypto mining means gaining cryptocurrencies by solving cryptographic equations through the use of computers. This process involves validating data blocks and adding transaction records to a public record (ledger) known as a blockchain.
Crypto mining is a complicated process. It requires a lot of capital expenditures in technology equipment. And, it has significant expenses in terms of electricity and even cooling equipment for a large number of computers used.
The crypto mining business is risky but can be promising and profitable if bitcoin appreciates in the future.Research on global cryptocurrency mining marketby Industry Research is optimistic about the growth of this market in the next five to six years.
With growth expected both for the cryptocurrency mining and its hardware, cryptocurrency mining stocks are worth considering. For investors interested in positions related to bitcoin, here are four crypto mining stocks to buy:
Leading the way of the crypto mining stocks to buy is Riot Blockchain, which is based in Castle Rock, Colorado, and was founded in 2000. Its stock has a market capitalization of more than $1 billion. Its stock price surged from $1.49 in January 2020 to top $16 per share in late December 2020.
The company is investing in its bitcoin mining business expansion heavily as it announced an expected 65% increase in bitcoin mining hash rate capacity resulting from the purchase and future deployment of 15,000 S19 Pro and S19j Pro Antminers from Bitmain Technologies Limited.
Riot Blockchain and its stock could benefit from future expansion and upgrading mining operations. The company is unprofitable for the past three years and an increase in bitcoin price could be a key catalyst for profitability.
Small-cap stocks such as MARA in general are higher risk compared to large-caps. With a market capitalization of less than $600 million, this stock has great risk, but also the potential for high returns. And in 2020 this crypto mining stock delivered an exceptional return soaring from just over $1 per share to about $14 per share in December 2020.
It is based in Las Vegas and its fundamentals are not inspiring. What is worth mentioning is a recent by the company that, According to publicly available Bitcoin profit calculators, if all the miners we have purchased were deployed today, and Bitcoins price was $28,000/BTC, we would produce approximately $618 million in revenue annually and approximately $523 million in gross profit annually.
Marathon patent group also is investing heavily in expanding its crypto mining business. If the above statement is true, then the price-sales ratio of the stock would be now below 1. The good news is that bitcoin surpassed $28,000. The further price increase could also boost the profitability of the company and support a higher stock price.
Canaan is based in China and manufactures hardware that can be used for bitcoin mining. It will benefit if companies invest more in equipment for an efficient and cost-effective crypto mining business. Expectations of selling more hardware are realistic and thats why it is on this list of crypto mining stocks to buy.
Also in this case, the story about the fundamentals is true. The company is not yet profitable and third-quarter 2020 results were not good for revenue. Still, there is some good news.The company announced in September 2020 a $10 million share repurchase program over the next 12 months. However, that anmount may seem trivial for a company with a market capitalization of more than $1 billion.
The last entry on the list of crypto mining stocks to buy is Hive Blockchain Technologies, which has a price-earnings ratio of 43.33. Not something to call it a bargain stock, but still it is profitable. The company is based in Canada with operations in Canada, Sweden and Iceland.
The key to success for this small-cap stock is to increase revenues and control costs. For the revenue part, it has already shown a successful positive trend increase for the past three consecutive years. And its operating income for the 12 trailing months is positive.
The novel coronavirus pandemic posed severe problems for crypto mining companies in logistics and the supply of miners. A return to normal business conditions will be a positive factor for these crypto mining stocks.
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Genesis Mining allows users to participate in cryptocurrency mining without the hassle of buying mining equipment and maintaining it. However, when you do the math, it turns out that investing with Genesis Mining will most likely lose you money in the long run.
In short, cloud mining is a term describing companies that rent out mining hardware and mine for you. You split the profits with them (on top of paying them a fee) and avoid the need to buy and maintain expensive mining equipment.
Ive talked a lot about cloud mining in the past. One of the things I always tell people who ask me about cloud mining is that I think 99.99% of the companies who offer cloud mining services are probably scams.
The idea of cloud mining is very simple: Instead of spending thousands of dollars on mining hardware and all the necessary gear to support it, you can lease everything from someone else and keep the profits to yourself.
The company that rents out the miners takes care of the maintenance and all of the hassle of setting them up. In order to answer the question of profitability, all you need to do is run a few calculations.
However, as BTC price rises, more miners come onboard, which in turn makes it more difficult to mine. This would actually lower your daily earnings in BTC. Overall in the long term, your profit or loss will probably even out with the increase in difficulty.
Moreover, in the case that Bitcoin crashes, youre still left with your Bitcoins. With Genesis Mining, if Bitcoin crashes you stop generating revenue and have nothing left once the 6 months of your contract are over.
Genesis mining is a SCAM, dont use them. They are willing to respond when you want to purchase something from them, but when you want your profits, then they dont answer emails and you can just hope that you will see any returns.
I bought a 5-year plan 1 TH/s BTC plan in 2018. The maintenance fee is 0.00014 per GH/s and day regardless of the current difficulty or the current BTC price. As result mining is unprofitable in a case of low BTC price or high difficulty, in 2020 for example multiple months after may halving. Payouts works OK for me.
With the new contract limits, it might be harder but use cryptocompares mining calculator and populate either the pool fee as 24 5 (I believe) that was to factor in the maintenance fee) or if no maintenance fee set all values to 0. This has worked for me and many youtubers. So a 35TH/s contract can be profitable right as of today (11.01.2020) when you populate 35TH/s and assume the contract was what, $1544?
New York (Jun 6) Bitcoin enthusiasts prize the cryptocurrency as beyond the reach of any government. Yet up to three-quarters of the worlds supply has been produced in just one country, China, where a government push to curtail output is now causing global bitcoin turbulence.
The amount of electricity needed to power vast numbers of computers used to create new bitcoin are at odds with Chinas recent climate goals. The government, which manages its national currency with a tight fist, also frowns on cryptocurrency generally. No legal exchange of bitcoin has been permitted for years in China, even as the nations entrepreneurs emerged as the dominant source of its output.
The 24/7 number crunching required to create, or mine, bitcoin relies on ample supplies of cheap electricity and equipment, some of the same elements China harnessed to become the worlds manufacturing hub.
In their hunger for market share, Chinas bitcoin miners took advantage of an underregulated and overbuilt electricity-generating sector. They set up mining operations adjacent to hydropower producers in the mountainous Sichuan and Yunnan provinces where turbines churn snowmelt and seasonal downpours into electricity.
GPU mining utilizes a gaming computers graphics processing unit, and it can be used to mine Bitcoins, along with other types of cryptocurrencies called Altcoins. Additionally, this was a viral method of mining Bitcoin several years ago, yet to this day, theres still quite a bit of a buzz floating around the web that eludes to the idea that this is still a viable option for you.
What Is GPU Mining?GPU mining is a process of solving complex math problems to verify electronic transactions using computer components in this case, a graphics card. Miners who participate can either create digital coins or get paid for their processing power in a cryptocurrency.
However, the world that revolves aroundwhat Bitcoin Mining isthese days has become very fast-paced, and if you do not have the latest Bitcoin miners to help with the highly complex calculations process of mining cryptocurrencies, you are going to get left in the dust. Meaning you wont make any money, however, that doesnt mean graphics card mining is dead.
So for the primary purpose of this guide, I wanted to go more in-depth about GPU mining and how it all works so new miners can get a better feel for it all. By the end of this guide, youll be a pro at understanding the complexities of mining with a GPU. However, before we begin, there are a few things you should know about GPU Mining these days. Lets get started.
In 2013 ASIC or application specific integrated circuit miners took over the Bitcoin Mining scene causing many miners to switch their obsolete mining graphics cards to Scrypt-based altcoins such as Litecoin and Dogecoin. The rush did not last for long, as companies rushed to develop Scrypt ASIC miners as well. As a result, Scrypt-based altcoins tumbled, messing up the ROI.
Moreover, in 2018, cryptocurrency mining of many other significant cryptocurrencies was carried out predominantly using ASICs. Therefore, anyone mining these coins today using a GPU or CPU is trying to compete against large mining pools.
These types of pools use ASIC hardware that is specially customized to solve the complex cryptographic puzzles generated by these mining algorithms. So, going up against them using a GPU is virtually pointless and highly unprofitable. Thus, the massive shift of miners toward ASICs is easily justified.
ASIC miners are built strictly for mining and are considered one of the most efficient types of mining chipsets to date. For example, a single application specific integrated circuit(ASIC) miner has the equivalent computing power of several hundred GPUs.
Even though GPUs give lower computing processing power than these more advanced miners, they can still get utilized for mining cryptocurrencies like Ethereum, Zcoin, Grin, and Ravencoin, to name a few. Nvidia and AMD make the most well-known mining graphics cards as they offer a practical method to go into the cryptocurrency mining space without having to spend a ton of money.
Furthermore, since GPUs are relatively cheap while being flexible, you can run multiple cards on the same motherboard while mining different cryptocurrencies simultaneously. A user can also reconfigure their machine to hash various coins based on what the most efficient coin to mine is at a given point in time with little downtime or trouble.
Currently, GPUs have become the norm when it comes to at-home mining ever since CPUs became out-of-date for mineable cryptocurrencies like Bitcoin. Getting started with GPU mining is comparatively easy, particularly if you already have a computer equipped with a gaming card. Building a mining rig is the main expense, as these can cost thousands of dollars as well, depending on the type of miner choose to build.
Before we can begin breaking down the GPU Mining process, its essential to explain momentarilywhat cryptocurrency mining is. In straightforward terms, mining relates to the method of utilizing a CPU, GPU, or ASIC processing abilities for the hopes of hashing blocks and validating transactions on what is known as the blockchain, which is nothing more than a public ledger of all past transactions.
You see, whenever you start mining, your hardware used for mining receives tiny bits of information from the blockchain network, which it then performs processes on. This process is known as hashing or proof of work, and your computer power is used to help solve complex mathematical problems, which ultimately earns you rewards.
Therefore GPU mining in this example is the means of calculating transactions and recording them to whatever cryptocurrencies public ledger your mining on while attaching them to all past transactions also known as proof of work. This record of retired transactions is known as the blockchain as it resembles a chain of blocks in a digital form. The blockchain helps to confirm transactions to the rest of the chain as having taken place.
Mining is also the tool used to disperse new digital currencies into the network: Miners get compensated for any transactional fees accrued as well as abonusof recently created coins for each block properly hashed. The purpose this serves is two-fold.
As more users join the network, the rate at which block creation happens gets increased. As the rate of block generation expands, the difficulty increases to counterbalance this effect, which can then push the rate of block production back down. Any blocks attempted to get created by malicious miners that do not meet the specified difficulty target will be refused by every miner on the network and thus will be rendered virtually useless.
Furthermore, mining difficulty readjusts every so many blocks, which varies from blockchain to blockchain, to a value that is measured based on how fast or slow the previous set of blocks get generated given that everyones been mining at the current difficulty. The purpose of this is to control the rate at which new blocks get created and provides a fair playing ground for all miners to win mining rewards. It also ensures that blocks dont generate fast, which would cause inflation to the currency.
At the time of writing this, an Ethereum block is currently worth 2 Eth, which is valued around 360 dollars USD. The miner or mining pool that hashes the block correctly first wins the block reward for participating in verifying transactions across the network.This is what miners get paid.
However, throughout the journey of continuing to secure Bitcoins network and earn more coins, miners began innovating faster software and hardware, and for years now, CPU mining has been relatively trivial. These days you could mine Bitcoin for centuries using your laptops CPU without earning a single coin. Nonetheless,CPU Miningis still utilized in some of the mineable cryptocurrencies.
Simply put, GPUs are much faster and more efficient for mining coins like Ehthereum when compared to mining with a CPU. A CPU architecture is designed to be more of a swiss army knife with the ability to do a lot of different tasks.
Whereas GPUs are engineered primarily for rendering graphics, thus making them extremely restrictive in their abilities. Due to the nature of their architecture, GPUs are only effective for intricacies that can be solved utilizing graphics processing as the hardware can only be employed in particular ways.
This is what makes Graphics cards so efficient at solving complex algorithms necessary for cryptocurrency mining for the same reason they are good at rendering games on your computer screen. GPUs are capable of carrying out relatively straightforward computational duties but doing heaps of them all at the same time. And that my friend is what makes them so suited for mining cryptocurrencies.
Mainly a mining rig can be a regular at-home gaming computer or built custom for the specific purpose of mining. Thats right; youcan use your regular at-home computer to mine cryptocurrencies, although you wont be able to use it for much else while its hashing away. Building a dedicated server is the better route to go for maximum efficiency and profits.
If youre interested inlearning how to build a GPU mining rig, then ideally, youll want to construct your rig using thelatest GPU mining hardwareso that your rig doesnt become outdated in a few years. Because GPU mining rigs are much like an ordinary computer, they require computer components such as graphics cards, motherboard, CPU, RAM, PSU, and several other components.
You can even build Mining rigs with multiple graphics cards and dedicated GPUs. When appropriately configured, these cards can give you unprecedented performance. Dont worry if your not all that savvy with computer parts as all you need to do is hop in our discord, and we can gladly help you out.
There are a few aspects to take into consideration when deciding thebest GPU for cryptocurrency mining, but the most critical one is hashrate. Although it needs to be offered at a price, one can afford so that you have a fighting chance of getting an ROI. Lastly, its power consumption needs to be low enough to ensure your not spending more on electricity than what youre earning.
Remember, the more electricity a GPU needs, the more costly it is to operate, which can ruin any chances of you making a profit. When it comes to which is better, AMD or Nvidia, there is some debate to be had there.
Until recently, the go-to answer for the best coin to GPU mine has always been Ethereum when referring to GPU mining. However, this coin was invaded by ASIC miners in 2018, which make competition in finding a block slightly unfair. The good news is that these days, the crypto mining space has a plethora of other Altcoins that one could choose to mine with a GPU.
Grin is among the top contenders of best coins to GPU mine with its unique algorithm and unlimited supply. This coin utilizes the Mimble Wimble protocol, which is said to be an equal opportunity for both ASIC and GPU miners while being extremely private by grouping its transactions into a single output. Additionally, Beam is another great choice as it has similar properties as Grin.
Lastly, Id like to mention Ravencoin as another top choice as it has recently implemented further measures to prevent ASIC miners from mining its chain. The thing that seems to draw miners to Ravencoin is the fact that it open source with alot of development similar to Bitcoin and but with more decentralized characteristics, thus creating a fair opportunity of GPU mining.
As stated early on in this guide, it not at all profitable to mine for Bitcoin no more due to its rapidly growing mining difficulty from the fast-paced development of Bitcoin mining hardware. However their some workaround way in which you can earn Bitcoins with a GPU and even a CPU by using special mining programs.
Mining software is what makes your GPU or even CPU mine coins. Without the use of the programs, your computer or rig would be pretty much useless for mining. This allows you to easily control, monitor, and connect your mining rig to a coins mining network or pool so that you can quickly start earning coins.
Basically, what these mining programs do is tap into your mining rigs/computers processing power and put it to work hashing on a network of your choice. Additionally, there is software these days that can determine which coin would be the most profitable coin to mine at any given time. This software can take alot of the guesswork out of the equation of knowing youre getting the most from your equipment.
Todays list of mining software has evolved way beyond what Satoshi original developed back when Bitcoin mining was first pioneered. To date, there are many ways to go about choosing a program to start earning a profit with some being great, others being bad, and even some in-between.
Out of all the ones that we recommend on ourlist of Bitcoin mining software, one seems to outshine them all. Cudo Miner was recently developed with the intent of making mining a simple plug and play option for gamers and miners in mind. Although its simple to use, it comes with a boatload of advanced features that even pro miners would be impressed.
Overclocking is a way to increase your mining hardware performance, and when it comes to mining, it really helps with increasing profits. Additionally, it can also be the leading cause of mining rig crashes and freezes, so you need to be careful when attempting to perform this action.
Mostly what your doing is accessing the hardware BIOS and adjusting its clock settings so that it can calculate more processes per second. Most manufacturers of hardware will warn you that this will void any warranty they provide. However, applying modest overclock to your GPU can help increase the coins you can mine in a day while lowering overall wattage of GPU to save on electricity cost.
This can also cause you GPU to run cooler is done correctly. The thing I really want to emphasize here is the fact you will need lots of research if youre not all that familiar with the process of doing this. The Good news is that if you need help doing this, you can hop in our discord and get some help.
Unfortunately, when it comes tohow much profit one would make from GPU mining, there is no short easy answer. As with allcrypto money-making investments, this one doesnt come without its own set of risks. With that said, the whole point of mining to make a profit obviously but mining isnt always profitable. As a quick rule of thumb, never invest money that you cant afford to lose.
The reason its not easy to project what your financial outcome would be is the fact that there are many dynamically changing factors. For example, the cost of electricity varies significantly from country to country, and even in the states, it can vary widely.
Some of the other factors include the price of the cryptocurrency you choose to mine, which can also vary significantly from month to month. Additionally, the price you agreed to buy your mining hardware will have a direct impact on when youll see an ROI.
The good news to all this is there are websites that can give you an idea of what you could potentially make before you decide to invest in hardware. Sites likewhattominehave robust mining calculators that can determine many things like what the best coin to mine with a particular GPU and how much profit you can earn daily on your given electric rate and hardware.
Although I must say, take its projections with a grain of salt as its, not an exact science. Use it as a guide instead and maybe even compare stats against other mining calculator sites likecoinwarzto determine the route you want to go.
Will mining damage my GPU?Mining with a GPU is relatively safe for the most part. However, their ways in which you can cause damage to the card like using too high of an overclock setting or operating in an environment with high temps.
Can I buy used GPU to mine with?For the most part, I have seen numerous reports of miners buying up used GPUs with much success. Just make sure to stick with the newer released cards that way, youre not buying outdated hardware.
I hope you enjoyed what you read here and I look forward to seeing all of you in my discord. Remember, its never too late to start GPU mining. As for me personally, I really like this method of mining crypto as its one of my favorites out of the many ways to do so. The fact is that GPU mining has many opportunities to make a buck, and even if it dont pan out; I can always sell my computer parts to get most of my money back.
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If you want to know how to mine Bitcoin, you can take two different steps: Go through a cloud mining company, or buy and use purpose-built hardware. Well look at both options and why, though neither is cheap, cloud mining represents the safest investment for your money.
Remember, research is essential! As for buying Bitcoin or altcoins, you need to be aware that nothing in the world of cryptocurrencies is guaranteed. Any investment could be lost, so make sure you do your reading before pulling out your credit card and have a secure Bitcoin wallet standing by. As with all of our cryptocurrency coverage here on Digital Trends, this should not be considered financial advice.
When Bitcoin launched in 2009, mining the worlds first and premier cryptocurrency needed little more than a home PC and not even a fast one at that. Today, the entry barrier is far higher if you want to make any profit doing it. That doesnt mean its impossible, but its not the homebrew industry it once was.
Before we discuss how to mine Bitcoins yourself, its important to note that although there is uncertainty in everything cryptocurrency-related, mining is arguably the most volatile. Hardware price fluctuations, Bitcoin-mining difficulty changes, and even the lack of a guarantee of a payout at the end of all your hard work make it a riskier investment than even buying Bitcoins directly.
Because of this and general market volatility, it can be challenging to know how much profit you will make from mining. 2018 saw the mining market plummet in profit and shoot up when it comes to entry barriers. Unless theres a significant Bitcoin tech change, this is likely to stay the same. A single Bitcoin is valued at around $50,000 at present, but mining can come with high costs.
Cloud mining is the practice of renting mining hardware (or a portion of their hashing power) and having someone else do the mining for you. You are typically paid for your investment with Bitcoin, even if the hardware isnt used for mining Bitcoin. As with general investing, its essential to do your research there are many companies out there that purport to be the best, and even the largest have their detractors.
Several cloud mining companies have come and gone over the years, including ones weve spoken to and validated directly, like HashFlare, which told Digital Trends in an interview that every one of its customers has turned a profit using its service. In early 2021, youre far better off going with a company like Coinbase, an established and respected cloud mining entity. Its expensive to get started but one of the best options out there.
For a broader range of options, CryptoCompare maintains a list of mining companies with user reviews and ratings, though be aware there are a lot of reviewers looking to shill their referral codes in the comment section.
Once you have picked a cloud mining provider and signed up, you need to pick a mining package. That will typically involve choosing a certain amount of hashing power and cross-referencing that with how much you can afford to pay. Usually, paying more will give you a better return, or you will turn a profit quicker, but thats not always the case.
Most cloud mining companies will help you decide by giving you a calculation based on the current market value of Bitcoin, the difficulty of Bitcoin mining, and cross-referencing that with the hashing power youre renting. However, its important to note that those numbers can and dochange, so it is vital to look at market trends and estimate where Bitcoin may be going before choosing your contract. What may be profitable now may not be if Bitcoins value crashes.
Some cloud mining companies will sell you a contract on a pre-sale basis effectively asking you to pay upfront for an agreement that wont begin for weeks or months when new hardware becomes available. In most circumstances, that is not advisable because there is no way to guarantee those contracts will be profitable when they start and not even a concrete indication of when that will happen.
Its a method of increasing the chance of earning Bitcoin through mining, and its a standard practice in thecloud and personal mining. There are pros and cons of different pools that go beyond the scope ofthis article, but joining an established and proven pool with low fees is likely to be your best bet.
Once youve completed that step, your cloud mining can begin, and within a few days or weeks, you shouldstart tosee your cloud mining account start tofill with Bitcoin. Withdrawing it and putting it into a secure wallet of your own is a good plan as soon as you have a small Bitcoin holding, though some cloud miners will allow you to reinvest your earnings for higher hashing power.
Whatever you do, though, you need to decide what youre going to do with your bitcoins in the long term. While you can purchase many products and services with bitcoins, prices can fluctuate, and you may have to do even more research to see if youre getting a good deal. We can also help you trade your bitcoin for a different cryptocurrency or sell it directly for cash.
HODLing, that is, holding your Bitcoin for dear life, is also a viable strategy for some people. HODLers are those who hold onto their Bitcoin because they believe that their value will go up over time. Unfortunately, there is no truly reliable way to predict future values for Bitcoin, though.
Of course, we arent financial advisors and wouldnt suggest you do anything in particular with your Bitcoin. If you decide you want to hold onto your Bitcoin, you should consider a secure, potentially even hardware-based, wallet to store it in.
Before you spend money on any hardware or mining setups though, you should use a Bitcoin mining calculator to go over the processs costs. Then youll have the information you need to make an informed decision on whether the processs profits will outweigh the costs. It is worth considering, though, that prices change from one day to the next, and power prices likewise fluctuate. Bitcoin mining is exorbitantly expensive for most average folks, and theres a slim chance youll be able to make enough bank by running your operation.
Due to how expensive it is to set up the proper system, we only recommend mining Bitcoin yourself if you have ready access to plentiful and, crucially, cheap electricity. It also requires a high-quality network connection to support the traffic. Hardware-wise, nothing but the very latest generation ASIC miners have even a hope of making a profit from Bitcoin mining, so for direct Bitcoin mining, check out the AsicMinerValue site to see what you need.
If direct Bitcoin mining is not a realistic option for you, you can create your own method with the help of software like NiceHash. NiceHash lets users connect their ASIC machines or GPU/CPU and rent them out for use in alt-currency mining, with all profits sent to you in the form of Bitcoin. Its worth checking out the profitability calculator before starting, however, as youll need to factor in the relative power of your hardware and your local electricity cost to potentially make a profit.
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Mining accidents occur in the process of mining metals or minerals. Thousands of miners die from mining accidents each year, especially in the process of coal mining and hard rock mining. Generally speaking, surface mining usually is less hazardous than underground mining.
Most of the deaths today occur in developing countries, especially China. China's coal mines are the world's deadliest, killing an average of 13 miners a day. China accounts for the largest number of coal-mining fatalities, about 80% of the worlds total, although it produced only 35% of the worlds coal.
As a comparison, annual coal mining deaths numbered more than 1,000 a year in the early part of the 20th century in the U.S. They decreased to an average of about 450 annual fatalities in the 1950s and to 141 in the 1970s. The yearly average in coal mining decreased to 30 fatalities from 2001-2005, though 60 to 70 miners still die each year in the U.S. coal and non-coal mining industry. The most common accidents occurring in the mining industry are the result of poisonous or explosive gases or mishaps relating to the use of explosives for blasting operations.
Methane is a highly explosive gas trapped within coal layers. Mechanical errors from improperly used or malfunctioning mining tools (such as safety lamps or electrical equipment) or the use of improper explosives underground can trigger methane and initiate consecutive coal dust explosions.
Methane and coal dust explosions have caused the largest mining disasters in history and frequently kill or trap underground miners. The tragic Courrires accident, the worst ever mine disaster in Europe, was directly caused by methane and dust. It caused the death of 1,099 miners in Northern France on March 10, 1906.
Fly-Rocks: "For the past two decades, most explosives-related injuries and fatalities in surface mines occurred when workers were struck by rock, either because they were too close to the blast or rock was thrown much farther than expected. In underground mines, most explosive-related fatalities were caused by miners being too close to the blast, followed by explosive fumes poisoning, misfires, and premature blasts," according to the National Institute for Occupational Safety and Health (NIOSH)
Premature Blast: "The detonation of an explosive charge earlier than warranted. A premature explosion may be due to carelessness, accidental percussion, a faulty fuse, or degenerated explosives," according to the Dictionary of Mining, Mineral, and Related Terms.
Misfires: "Misfire means the complete or partial failure of a blasting charge to explode as planned." (Definitions for Surface and Underground Metal and Nonmetal Mines, Department of Labor, Mine Safety and Health Administration (MSHA),30 CFR Parts 56 and 57, Sec. 56.2, Volume 69, Number 124, pages 38837-38843.
The explosive or pyrotechnical products that remain in the ground or in the 'muckpile' might be triggered by any mechanical effect during the digging, milling or crushing stages of the mining process, causing injuries or fatalities to blasters or operators.
Mines located in seismically active regions, such as the Andean region (also known to be one of the wealthiest metallic mining zones in the world), are even more at risk. The use of explosives might cause earthquake-like events that collapse mine workings, and traps miners in, as happened to the 33 miners stuck underground from August to October 2010 in a Chilean mine near the city of Copiapo, or kill them, flood the mine and damage structures on the surface.Get in Touch with Mechanic