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\frac{\left(x^{2}+1\right)\left(x^{2}-1\right)}{2x\times 2x}
Multiply \frac{x^{2}+1}{2x} times \frac{x^{2}-1}{2x} by multiplying numerator times numerator and denominator times denominator.
\frac{\left(x^{2}+1\right)\left(x^{2}-1\right)}{2x^{2}\times 2}
Multiply x and x to get x^{2}.
\frac{\left(x^{2}+1\right)\left(x^{2}-1\right)}{4x^{2}}
Multiply 2 and 2 to get 4.
\frac{\left(x^{2}\right)^{2}-1}{4x^{2}}
Consider \left(x^{2}+1\right)\left(x^{2}-1\right). Multiplication can be transformed into difference of squares using the rule: \left(a-b\right)\left(a+b\right)=a^{2}-b^{2}. Square 1.
\frac{x^{4}-1}{4x^{2}}
To raise a power to another power, multiply the exponents. Multiply 2 and 2 to get 4.
\frac{\left(x^{2}+1\right)\left(x^{2}-1\right)}{2x\times 2x}
Multiply \frac{x^{2}+1}{2x} times \frac{x^{2}-1}{2x} by multiplying numerator times numerator and denominator times denominator.
\frac{\left(x^{2}+1\right)\left(x^{2}-1\right)}{2x^{2}\times 2}
Multiply x and x to get x^{2}.
\frac{\left(x^{2}+1\right)\left(x^{2}-1\right)}{4x^{2}}
Multiply 2 and 2 to get 4.
\frac{\left(x^{2}\right)^{2}-1}{4x^{2}}
Consider \left(x^{2}+1\right)\left(x^{2}-1\right). Multiplication can be transformed into difference of squares using the rule: \left(a-b\right)\left(a+b\right)=a^{2}-b^{2}. Square 1.
\frac{x^{4}-1}{4x^{2}}
To raise a power to another power, multiply the exponents. Multiply 2 and 2 to get 4.