How does NiceHash work?

NiceHash is a crypto-mining marketplace that connects sellers of hashing power (miners) with buyers of hashing power.

Hashing power buyers select the cryptocurrency that they want to mine, a pool on which they want to mine, set the price that they are willing to pay for it, and place the order.

Hashing power sellers (miners) connect their mining hardware to NiceHash stratum servers and to the buyer's order. Their hashing power is forwarded to the pool that the buyer has chosen for mining. For each valid share they submit, they get paid in bitcoins for the price that is determined by the current weighted average and refreshed each minute.