A cryptocurrency rig is simply a computer that has been set up for mining. There are two common types of crypto mining rigs. 1. ASICs are hardware built from the ground up to mine a specific algorithm. 2. GPU miners use the graphics card on a standard PC to mine.
Strictly speaking, it is not passive income because it requires you to maintain the hardware and make sure the machine is actively mining at optimum levels. Cryptocurrency mining is pretty passive, though. Many days will go by without requiring a cryptocurrency miner to put in any work for mining.
A wallet is software or hardware that holds a private and public key to access your cryptocurrency. This cryptocurrency is stored on the ledger of the blockchain network. If you are holding cryptocurrency in your wallet, it is very similar to operating as your bank in fiat currency terms.
Mining Crypto-currency Is It Profitable in 2022?