How to Mine Bitcoin in 3 Easy Steps

• 1. Opening an account with Supreme Wealth Mining Market
• 2. Choose your mining plan and fund your account
• 3. Start mining Bitcoin and watch your earnings grow!

Supreme Wealth Mining is a premier Bitcoin mining platform that offers reliable, efficient, and scalable mining solutions. Our competitive mining plans combined with cutting-edge technology make it easier than ever to start earning Bitcoin through mining — no matter your level of experience.

The Rise of Bitcoin Mining

Bitcoin mining began as a hobby for tech enthusiasts who wanted to verify Bitcoin transactions and secure the blockchain network. Mining is the process through which new Bitcoins are created, by solving complex cryptographic puzzles using powerful computer hardware. As the Bitcoin network grew, mining evolved from CPU and GPU-based operations to massive industrial-scale farms with specialized ASIC (Application-Specific Integrated Circuit) miners.

Mining is critical to the Bitcoin ecosystem because it maintains transaction integrity and prevents fraud. Early miners were rewarded with a high number of Bitcoins, but as more miners joined and the Bitcoin supply approaches its limit, mining difficulty has increased dramatically.

With Bitcoin's meteoric rise in value over the last decade, mining has become a lucrative business—but it requires strategic investment in hardware, electricity, and maintenance. Supreme Wealth Mining offers you an accessible gateway into this exciting space with our flexible mining plans tailored for beginners and professionals alike.

Bitcoin mining is the process of verifying and securing transactions on the Bitcoin blockchain by solving complex cryptographic puzzles. In return, miners are rewarded with newly minted Bitcoin—a system that keeps the network safe and decentralized. At Supreme Wealth Mining, we simplify the process and eliminate the barriers. Instead of setting up noisy, expensive rigs in your home or dealing with the technicalities of software configuration, we give you a seamless path to passive income through our cloud-based mining infrastructure.

The year 2021 proved to be a blockbuster year for the primary cryptocurrency, Bitcoin. Bitcoin’s price sharply rallied to above $55,000 in February 2021, and headlines hit the wires that Tesla had bought $1.5 billion worth of the digital coin. There was a brief market correction, but the Bitcoin trend continued upward, and it again jumped above $60,000 ahead of the public listing of Coinbase, the biggest crypto exchange in the US. However, negative regulatory news and a far-reaching electricity blackout in China saw Bitcoin overextend a pullback to just above $30,000 by July 2021. There was a regulatory crackdown in the UK and China, but there would soon be positive news.

In June 2021, El Salvador announced that BTC would be considered legal tender within the country, and there would be no capital gains tax levied on crypto exchanges there. Furthermore, a blockchain-related job advert by Amazon saw investors speculate that the retail giant was looking to start supporting crypto payments. Together with the Taproot upgrade on the Bitcoin blockchain, these factors provided massive headwinds that saw the coin rally to its all-time high at around $70,000 in November 2021.

Understanding Key Factors Influencing Bitcoin Price

Like any financial asset, the price of Bitcoin is dictated by the laws of supply and demand. Bitcoin has always been compared to gold in this regard, in that there is a finite number of coins that will ever be available. Beyond that, market participants will, over time, determine the fair value of Bitcoin depending on its use cases and adoption. Another major price influencer is media coverage. In its early years, the price of Bitcoin was constrained as the media branded it a passing cloud and a coin for the dark web. In this age of social media, such negative coverage can scare potential investors. However, positive media coverage of both Bitcoin and its underlying blockchain technology has provided favourable fundamentals for the foremost cryptocurrency and emboldened investors.

Bitcoin Mining may be decentralised, but the power of major governments around the world cannot be ignored. Bitcoin has been the subject of frequent changes in regulation in various aspects, including taxation. Part of the reason the price of Bitcoin fell sharply after the highs of late 2017 was massive regulatory pressures from China. But regulation is not necessarily a negative fundamental. In some instances, positive regulation serves as a tool to legitimise Bitcoin as a mainstream financial asset, and this can lead to increased demand.

Bitcoin’s price is also influenced by what happens within the Bitcoin community. Part of the reason the price of Bitcoin surged during the COVID-19 pandemic can be linked to the halving that happened in May 2020. Bitcoin halving is when the reward for mining Bitcoin is halved. This theoretically limits the supply of Bitcoin as the incentive to mine is reduced. With supply limited, demand increases, and the price of Bitcoin increases as well.

How To Profit from Bitcoin Mining When the Market Goes Down

Bitcoin is a highly volatile asset, with changing sentiment capable of driving prices from one extreme to another. The market can experience overzealous optimism one moment and then quickly change to dark pessimism. At the end of the day, though, investors have to file their taxes whether prices are rising or falling.

Luckily for investors, Bitcoin is subject to capital gains tax. This presents a unique opportunity for claiming tax deductibles when prices are plunging. If you suffer a loss from your Bitcoin investment, you are entitled to include the details so as to reduce your overall tax liability. For a Bitcoin loss to be ‘valid’, it has to be realised. This means that you have to liquidate your position. You can only suffer a loss when you sell Bitcoin at a lower price than you bought it. If prices fall, but you do not sell, that is an unrealised loss and does not qualify for a tax deduction.

For instance, if you bought 1btc at $40,000, but the price is now $35,000, and you sell it, you will have realised a loss of $5,000. If you file your returns, you can claim a capital loss worth $5,000. In the US, capital losses can be claimed up to a maximum of $3,000. But the good thing is that excess loss can be rolled over to subsequent years indefinitely. So, if in 2020 you suffered a loss of $5,000, you are entitled to tax-deductible of up to $3,000, and you can carry forward the additional loss of $2,000 to 2021.

Bitcoin and other cryptocurrencies are inherently volatile. The good days are cherished, but the bad days need not be stressful. By using this tax-harvesting trick, you will be able to reduce your tax liability when Bitcoin prices fall.

Buying Bitcoin

There are different ways to buy Bitcoin and gain exposure to the opportunities this exciting asset provides. There are crypto exchanges that allow investors to buy Bitcoin using credit/debit cards or bank transfers. Exchanges were initially the only way to buy Bitcoin, and they have evolved as the foremost cryptocurrency has attracted interest globally. When you buy Bitcoin via an exchange, you will be required to open and secure a crypto wallet. You will fully own the coins and can benefit from forks that generate ‘dividends’ for Bitcoin holders.

There are also peer-to-peer Bitcoin exchange sites where people trade Bitcoin for cash between each other. These sites have grown in popularity because they match local traders who can conveniently exchange Bitcoin using local payment methods. Peer-to-peer Bitcoin Mining sites usually offer the coin at premium prices (higher than the market spot price), but they are easy and convenient for anyone to use. There are also Bitcoin ATMs that resemble traditional ATMs. However, they are not connected to any bank, but rather to a Bitcoin wallet or exchange. Bitcoin ATMs allow investors to buy Bitcoin with credit/debit cards as well as cash.

In most cases, it is easy to locate Bitcoin ATMs near you using maps. While this may increase convenience for some, many Bitcoin ATM users have lamented the high fees charged (usually more than 5%). With Bitcoin becoming a mainstream financial asset, investors can also be exposed to its price changes by trading Bitcoin derivatives like and the . In this way, investors do not own Bitcoin, they only speculate on its price changes. If you buy, you earn profits when prices go up; and when you sell, you earn profits when prices decline.

Bitcoin Mining via derivatives is attractive for many investors because it allows for profits to be captured whether prices are rising or falling. Derivatives can also be , which makes it possible to gain bigger profits when prices move in your favour. So how should you buy Bitcoin? This entirely depends on your investing goals and ambitions. When you buy Bitcoin via an exchange, ATM, or a peer-to-peer trading site, you are essentially a HODLer.

“HODL” is a term in the bitcoin community that means holding the coins for a long term. You essentially believe in the future of bitcoin and will never be concerned by periods where the price is declining. You are in for the long haul and will cash out when you reach a predetermined target or when it makes sense to do so. But if you are a short term, active trader, will suit you better. Bitcoin is generally a volatile asset whose prices fluctuate wildly. This means that short-term bitcoin traders are exposed to more opportunities when the prices swing between different highs and lows.

Why Mine Bitcoin with Supreme Wealth Mining

At Supreme Wealth Mining, we specialize in providing access to powerful and secure Bitcoin mining operations. Here's why you should choose us for your cryptocurrency mining journey:

• Secure Infrastructure

  We operate state-of-the-art mining facilities with top-tier physical and cybersecurity protocols. Our mining rigs are housed in secure data centers with round-the-clock monitoring, advanced firewalls, and DDoS protection. With us, your mining investment is in safe hands.

• High-Efficiency Mining Equipment

  We deploy high-performance ASIC miners and advanced cooling systems to ensure optimal hash rates and power efficiency. This means higher mining rewards and lower electricity costs for you.

• Global Compliance & Transparency

  Supreme Wealth Mining complies with mining and financial regulations in various jurisdictions worldwide. We maintain a transparent operating model and segregated client assets to ensure full trust and accountability.

• Scalable Mining Packages

  Whether you're a beginner or an institutional investor, we offer flexible mining plans that scale with your needs. Start small and upgrade anytime as your mining goals grow.

• Low Operational Costs

  Thanks to our global network of mining farms located in energy-efficient regions, we pass significant cost savings on to our users. Lower operational costs mean higher profit potential from every block mined.

• Fast Payouts

  Get regular and timely payouts directly to your preferred crypto wallet. With no delays, you can reinvest or withdraw your earnings at your convenience.