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Application-Specific Integrated Circuit (ASIC) Miner

What Is an Application-Specific Integrated Circuit (ASIC) Miner?

An application-specific integrated circuit (ASIC) is a type of circuit that has been designed for a single specific purpose. An ASIC miner refers to a device that uses microprocessors for the sole purpose of "mining" digital currency. Generally, each ASIC miner is constructed to mine a specific digital currency. So, a bitcoin ASIC miner can mine only bitcoin. One way to think about bitcoin ASICs is as specialized bitcoin mining computers, or “bitcoin generators," that are optimized to solve the mining algorithm.

Developing and manufacturing ASICs as mining devices is costly and complex. Because ASICs are built especially for mining cryptocurrency, they do the job faster than less powerful computers. ASIC chips for cryptocurrency mining have become increasingly efficient, with the latest generation operating at around just 29.5 Joules per Terahash.

Key Takeaways

  • An application-specific integrated circuit (ASIC) miners are electronic circuits designed for the sole purpose of mining bitcoins or other cryptocurrencies.
  • In general, an application-specific integrated circuit (ASIC) is optimized to compute just a single function or set of related functions.
  • Bitcoin miners review and verify previous bitcoin transactions and create new blocks so that the data can be added to the blockchain. 

Understanding Application-Specific Integrated Circuit (ASIC) Miners

Instead of being general-purpose integrated circuits—like RAM chips or PC or mobile device microprocessors—ASICs employed in cryptocurrency mining are specific integrated circuits designed solely to maintain the bitcoin blockchain—a public shared database that stores digital information.

Originally, bitcoin’s creator intended for bitcoin to be mined on central processing units (CPUs)—your laptop or desktop computer. However, bitcoin ASICs surpassed both CPUs and graphics processing units (GPUs) in terms of their reduced electricity consumption and greater computing capacity. After first gaining traction in mid-2013 when other hardware mining devices started hitting their bottlenecks in mining, Bitcoin ASIC miners have retained their lead.

Bitcoin miners perform complex calculations, known as hashes. Each hash has a chance of yielding bitcoin. The more hashes performed in a set period of time, the more likely a miner will earn bitcoin. ASIC miners are optimized to compute hash functions efficiently.

Although investing in cryptocurrency can be costly, and only sporadically rewarding, some investors are drawn to it. People buy expensive ASICs and pay for high electricity bills so that they can earn bitcoin.

In the context of blockchain, digital information (stored in a “block”) is recorded in a public database (the “chain” of subsequent blocks). The bitcoin protocol is built on the blockchain.

Special Considerations

What Is Bitcoin Mining?

Mining is the process of managing the blockchain and also creating new bitcoins. The job of bitcoin miners is to review and verify previous bitcoin transactions, and then to create a new block so the information can be added to the blockchain. The mining process involves solving complex mathematical problems using intrinsic hash functions linked to the block that contains the transaction data. Various bitcoin miners compete intensely with each other to solve a necessary mathematical puzzle.

Many miners join a mining pool to increase their chances of earning bitcoin. Mining pools pay for high value hashes, known as shares.

The first miner to find the solution to the puzzle is able to authorize the transaction, or add the bitcoin to the block. Each winner in the bitcoin mining "lottery" receives a reward (a certain amount of bitcoin). The reward includes all of the transaction fees for the transactions in that block, which motivates miners to collect as many transactions into a block as possible, in order to increase their reward.

Sours: https://www.investopedia.com/terms/a/asic.asp

Quick Overview: Our Top 2 Picks for ASIC Miners

IMAGEPRODUCTDETAILS
OUR TOP PICKptsntbl-table__imageBitmain Antminer S17 Pro
  • Hash rate of 56 TH/s
  • Approx 0.0004 BTC mined per day
  • Optimized for efficient power consumption
GET STARTED →
ptsntbl-table__imageBitmain Antminer S19
  • Hash rate of 95 TH/s
  • Approx 0.0007 BTC mined per day
  • High initial investment - $12,000
GET STARTED →

There are two ways of adding bitcoin to your portfolio – you can buy bitcoins from an exchange or mine bitcoin using the best ASIC miners. While buying bitcoin can be super easy, mining it can be profitable in the long run depending on the price action. But setting up the mining rig, checking for other factors like electricity cost, maintenance etc., is challenging. This is why cloud mining platforms are growing in popularity.

If you have decided to spare some time and give ASIC mining a shot, this article will help you pick the best bitcoin mining hardware. Choosing an inefficient ASIC miner can be devasting and you might end up with zero profits.

In this piece, we review some of the fastest and most efficient bitcoin miners for 2021. We have also covered some important factors you’d need to look for while choosing a bitcoin miner.

Top 9 Best ASIC Miners 2021

1. Bitmain Antminer S17 Pro

Launched in 2019, Bitmain’s Antminer S17 has a hash rate of 56 TH/s. This translates to around 0.0004 BTC mined per day. 

The S17 Pro consumes around 2094 – 2568 watts per hour of regular operation. Assuming that the electricity cost is $0.12 KW/h, Bitmain Antminer S17 will give you approximately $13 (at 2500 watts) in daily profits, which calculates to more than $4,500 in yearly returns at the current BTC price. Honestly, these are good numbers; S17 Pro yields positive ROI. 

Antimer S17 Pro runs on a second-generation 7 nanometer chip – BM1397, allowing S17 to achieve 56 TH/s. This is a massive increase from S15’s 18-28 TH/s. 

As for power consumption, the S17 Pro needs a significant amount of power to cool the device. Nonetheless, it has three operation modes – Low Power, Normal, and Turbo. Furthermore, using S17 Pro’s mode-switching functionality, you can dynamically manage your mining operations. Also, if you keep your mining rig in the coolest possible conditions with proper ventilation, your mining operations will be more efficient. 

Setting up the S17 Pro is a simple process. Moreover, it comes with a power supply unit (PSU) attached to its chassis, so you don’t need to buy PSUs separately. 

If you purchase a quality used unit of S17 Pro, it will cost you around under $7,000 (at the time of writing this). Considering that S17 Pro yields over $4,500 in profits each year, you will cover your initial investment in about 1.5 years. Yes, in less than 1.5 years, you will start getting more than $4500 in profits each year on your mining device (considering current return rates). 

GET STARTED WITH BITMAIN ANTMINER S17 PRO →

2. Bitmain Antminer S19

Bitmain Antminer S19

The S19 Antminer boasts a hash rate of 95 TH/s; therefore, it can mine around 0.0007 BTC per day. 

Say electricity costs $0.12 per KW/h. With 3250W of power requirement, S19 will give you over $25 in profit per the current BTC price. If you do the math, yearly profits go as high as $9000. 

There is no denying that Bitmain Antminer S19 has a very high power consumption. It requires 3250W of power at a room temperature of 25^C. And as you know, the hotter the surrounding environment, the more energy the cooling unit will consume. Typically, the S19 miner gives its best performance when kept within 5-40 degrees Celsius. To extend the life of this mining unit, it is recommended to keep it in a cool and dry place, ideally in the basement. 

The best part is that setting up the S19 miner via the MinerLink GUI is an easy process. Also, S19 supports Ethernet only. 

As for power supply, no need to worry about power supply units (PSUs). All PSUs are included with the miner; you don’t need to purchase separate hardware for the power supply.

Once you set up the mining unit, it will automatically begin hashing upon powering up. This feature will help you in case of power failure. 

Regarding pricing, you can get a new S19 unit for around $12,000(at the time of writing this), whereas used ones will cost you between $6000-$8500. 

As mentioned, S19 generates a yearly of over $9000. Considering this, if you buy a brand new S19 unit, you will recoup your entire initial cost in almost 1.5 years. On the other hand, if you purchased a used unit, it will take you less than a year to cover your initial investment, and you will start receiving generous returns. Keeping all this in mind, S19 is an excellent investment.

GET STARTED WITH BITMAIN ANTMINER S19 →


3. Bitmain Antminer S5


Bitmain Antminer S5The Antminer S5 may not be the latest Bitcoin mining hardware (other models like the S7 and S9, have come after it), but it is still in use, and its efficiency and function is exemplary.

The Bitmain Antminer S5 features a power supply labeled 115 Volts, and that draws about 560 Watts. With the low power needs and consumption, small power supply, similar to those running desktop computers can accommodate the Antminer S5.

With regards to efficiency, the unit produces about 1 GH/s for every 0.51 watts consumed. Which translates to 0.51 J/GH. Compared to its predecessor, the S3, the S5’s efficiency has improved. All these integrated features makes it the most powerful bitcoin miner in the current market.

As for the weight, the S5 weighs 2.5kgs. Its reduced weight is courtesy of its lightweight material and the fact that it is open from top to bottom. The setup is not rocket science and requires no prior tech experience. All these features make it the best antminer in the current market.

GET STARTED WITH BITMAIN ANTMINER S5 →

4. Bitmain Antminer S7


Bitmain Antminer S7The Bitmain Antminer S7 was introduced to the market in 2015. It has since become one of the most popular Bitcoin hardware miners and dominates the market courtesy of its low power consumption compared to the S5.

The power supply unit recommended for use the S7 is the 1600 watt APW3.

The miner can run even the most potent mining hardware – the Antminer S9. It, however, requires a minimum of 205 Volts to operate. The optimal power consumption makes it the most efficient bitcoin miner.

The efficiency of the S7 depends on the effectiveness of the power supply used and the ambient temperature. But, at room temperature of about 25 degrees Celsius, the S7 produces about 1300 watts. At this point, you should note that every generation of the Antminer is near twice as efficient when compared to its predecessor.

It weighs 7.5 pounds and features a durable metal casing with a groove and tongue system incorporated into it. Since the unit is noisy, it is not ideal to have it inside a home. Additionally, it is imperative to ensure you put it in a cool environment to ensure that you spend less energy trying to cool it as it mines.

GET STARTED WITH BITMAIN ANTMINER S7 →

5. Bitmain Antminer S9


Bitmain Antminer S9Bitmain Antminer S9 features the highest hash rate of about 14 TH/sec and is by far the most efficient mining hardware available.

This high hash rate has been made possible courtesy of 3 circuit boards featuring a total of 189 chips. For all that the S9 has to offer, you should expect to pay a pretty penny for it.

The Antminer S9 can be used with the Antminer 1600 Watt power supply efficiently. Speaking of efficiency, the S9 is notably the most efficient mining hardware available. And while it consumes 300 watts more compared to the S7, it is twice as efficient with about 0.1 Joules per Gigahash.

The unit has a sturdy design and weighs 10.4 pounds. The sturdy design comes in handy when a miner needs to arrange the multiple miners on one shelf. Using the S9, you best have it in a garage or a warehouse. The noise produced is unbearable for a home.

GET STARTED WITH BITMAIN ANTMINER S9 →

6. Antminer T9


antminer-t9-reviewT9 is yet another excellent best bitcoin miner 2021 on the list. It should, however, be pointed out that it is slightly on the higher price range. With regards to comparing the T9 to the S9, miners are split on which is better. Below is a brief review of the T9 that will allow choosing between the two an easy process.

The T9 consumes about 1450 watts for approximately 11.5 TH/s for Batch 23. It has an efficiency of 0.126 J/GH. Going with this numbers, the S9 is better than the T9. But before you make the decision, note that the quality chips in the S9 were of a slightly lower quality which leads to their reduced stability. The T9 Miner has this problem fixed.

The T9 also attended to the pre-auto-freq issue prevalent with the S9 miner.

GET STARTED WITH ANTMINER T9 →

7. AvalonMiner 741


avalonminer 741 reviewIf you are looking for an excellent bitcoin miner at an affordable price, this is the one for you. This product is the latest addition to the industry by the company Canaan. It provides a good hash rate about 7.3 TH/s and features an air forming cooling system that enables 88 chips to function great as a single unit. Also, it helps to keep the miner running at all times.

The unit features an efficiency of 0.16 J/GH. This efficiency rating is way better compared to all other products in its price range.

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8. Antminer L3


antminer-l3-reviewThe L3 sports four boards containing 288 chips. The number of chips is double that of its predecessor the L3 miner. The overall design allows for the unit to be arranged with ease when multiple miners are in use simultaneously.

While the L3 is a easy mining hardware to use, it comes packing in power just like most of the mining hardware listed in this review. It has a hash rate of about 504 MH/s and uses up approximately 800 watts and sports an efficiency of 1.6 J/MH.

The power supply recommended to be used with this miner is the Antminer L3 Power supply. This power supply unit can also be used with the S9.

GET STARTED WITH ANTMINER L3 →

9. Bitmain Antminer D3


Bitmain Antminer D3This mining hardware was introduced into the market in 2018 and has been the amoing the most poular Dash ASIC miners.

Most miners are using this hardware to first mine dash coins which they later convert into Bitcoins and make huge profits in the process. The Antminer D3 provides a hash rate of 15 GH/s and uses up about 1200 Watts.

Overall, it measures 320x130x190mm which makes it possible to have a neat arrangement when running multiple miners simultaneously.

GET STARTED WITH BITMAIN ANTMINER D3 →

ASIC Miners: What the Heck is it?

A short term for Application Specific Integrated Circuit, ASIC is a circuit that is made for a specific use rather than being used in general. The miners who indulge in ASIC mining are more developed and sophisticated when they are compared to the traditional miners that use the CPU, GPU, and other components. There are some rare Bitcoin ASIC mining chips and they, along with the common ones, can be used on their own when it comes to the subject of mining of the Bitcoin.

When it comes to mining with a greater speed, ASIC miners play a huge role and they are more productive and cost-effective than the traditional Bitcoin miners. Bitcoin mining is effective only when there is a net benefit in regard to productivity and low cost of running. They are high on consuming electricity and there are users who often combine rigs and ASIC chips just to bring the costs even lower.

The ASIC miners are designed to basically work and be co-joined with the mining rigs. The advantage of adding the ASIC chips to the mining rigs is that they make mining the coins with the rigs quite a lot more efficient. The ASIC chips can outperform a stack of GPUs any day. When pit against one another, the ASIC chips hash the transactions 100 times faster than a typical stack of GPUs.

This is because the ASIC chips are the next step in the journey of technology and also, they are more energy efficient, consuming less energy than the GPUs. Analysts predict that the next few years will see the viability of the ASIC chips since there are no such plans or technologies that can replace the chips within the energy frame.

One of the biggest advantage of having an ASIC chip instead of a typical miner is that while other miners are busy waiting for the transactions to be processed, you will be mining the coins at a much higher rate, giving you a strategic advantage over them.

The one thing that might irk you a bit is that since the chips are quite task-specific and are made for the sole purpose of mining bitcoins, the cost to build them can go quite high. While you may want the speed of hashing coins to be high, the time that is required to make a microchip for a task-specific functionality is quite a lot. The first miner that was released using an ASIC chip was made by Bitmain in May 2016 in China.

Even though it was designed to mine the Bitcoin, there were other SHA-256 coins that could be mined with it. It was proven quite vividly that the ASIC chips are better than the FPGAs, GPUs, and CPU combination when it comes to the speed of mining and the hash rate.

ASIC Miner: Common and Popular Brands

There are many companies which are manufacturing ASIC miners, making the microchips based on the same technologies. A minor tweak here and there differentiates the brands from each other and each one has its own price and features. Here are a few of them that have been rated quite high and are commonly used by the miners around the world:

  • Bitmain: When it comes to the different Bitcoin mining tools, there is no name that is more resonant than Bitmain. This is the company that was responsible for the Antminer, and over the years, it has become the biggest supplier of all the mining tools that are used by the people around the world. Even though the company mass produces the ASIC miners now, the price has not seen quite an affordable purchase.A typical Bitcoin miner from Bitmain comes at a price of around $1,100.The one interesting thing about Bitmain miners is that they come with a three month warranty. Depending upon the model that you choose, the hash rate of the miner varies from 8 to 14 TH/s. Each model has its own efficiency and depending on that, the profitability of the ASIC miners also varies. There have been reports where users from some batches of the miners have claimed that the miners were quite unstable.
  • Halong Mining: This one started out as a ASIC mining startup, there was no one who could say that Halong Mining equipment could become one of the best in the world. Once the startup was established, Halong Mining launched the Dragonmint T16 miner. This brought quite a lot of recognition to the company and people started to believe that this upcoming startup was going to be the best thing that ever happened to the ASIC mining community. The Halong miner started to compete with the pioneer Bitmain and they have gone head to head, competing for the top spot. Halong Mining has started an advertising campaign to highlight the benefits of the ASIC miner made by them. With the advertisements, the company has made endeavours to create a sense of trust with its customers and credibility.According to the company, millions of dollars went into the development of the Dragonmint T16. The first batch for the miner shipped in March 2020 and there have been no complaints ever since. Running between a voltage of 220V and 240V, the miner consumes 0.075 J/GH, and has a hash rate of around 16 TH/s.
  • Canaan Creative: When it comes to the most stable bitcoin miners, there is no name that is as recognised as that of the Canaan Creative. Within the miner, there is an Avalon controller that can attach up to 4 miners on a single network.While the cost of the miner is quite premium, coming in at around $700, there are users who have claimed that the mining of the Canaan Creative miner is not as efficient as that of the Bitmain miner. If the reports and comments are to be believed, the average hash rate of the miner by Canaan Creative comes in at around 7.3 TH/s.
  • Baikal: Baikal is a name that is known to all, for their work that it is doing in research and development of technology and the microchips since 2008. This was the company that created the SHA-256 algorithm chips back in 2013. They gained quite a lot of experience from the development of the aforementioned chips and they implemented the said experience in the future technologies that they began to develop.There are four product lines from Baikal which are offering quite a lot of products related to technology. These are Giant B, N, x10, and plus. There are other products from the company as well which help in the mining process. These include mining tutorials, customer service, and support after the sales of the products, among a long line of services.
  • Ebang: Combining efficiency with stability, Ebang brings you the ASIC mining chips at a price between $700 and $1,100, depending upon the model that you go for. The mining chips made by Ebang make use of the 14 nm technology and this helps the chips to push out a hash rate from 6.3 to 9 TH/s.
  • GekkoScience: There was a small mining firm in the United States of America that dreamt of making it big. They did so with the company now known as GekkoScience. The company now manufactures USB micro miners having incorporated the existing ASIC chips into their own designs. However, the end results are not always profitable, as is seen by the GekkoScience 2 PAC.

There is a lot of excitement building up because of a tweet by MyRig showing a wafer and claiming that it was produced by the technological giant Samsung. The truth about the claim is not yet confirmed but if it is considered to be based on a solid foundation, there is an oncoming slaught that will change the entire industry. Another rumour is that Samsung has been producing the chips for over a year.

However, the buyer of the chips is still unknown even though there are some people who believe that the chips are sold to Halong Mining for the production of the Dragonmint T1 miner. If Samsung joins the game, it could become the largest producer of the ASIC mining chips since it has considerable resources at its disposal and the price could also see a marginal drop since the chips will be produced at quite a large level to meet the demand.

ASIC Miners: How do they Work?

There are two different ways in which the ASIC miners are manufactured. They can either be pre-manufactured to work with a specific application or manufactured and then integrated with a custom application.

The typical parts of an ASIC miner are the software for mining, the ASIC chip, a power source, and the fans to keep the system cool. The entire rig consists of the fans, ASIC chips, and the processors among the main components.

If you wish to understand the working of an ASIC miner, you do not have to spend unnecessary money on becoming a mining expert. Instead, you can go for the low-cost tutorials that are available on the internet. Another way that you can opt is to use the USB miners. While they are quite cheap, the hash rate on them is quite low. This is understandable since you are getting what you pay for.

On a typical USB miner costing around $30, you will get an average hash rate of 330 MH/s. The return of investment by using this type of miner is usually around 1% per month. You will want to invest in an ASIC miner if you are planning to build a premium bitcoin mining hardware.

If you are in the market looking for the best ASIC miner, you will want to go with the Antminer S9, coming with a hash rate of 14 TH/s. This miner uses quite a lot of power and this is why you will need a power source that supplies more than 1275 watts. You can go with either of the two choices, depending upon the type of power that you are choosing:

  • 110V PSUs like the Gold Rated 1000 watt PSU, or
  • 650 watt Power the ASIC Miner

There are just three simple steps that you have to follow in order to get started. These are as follows:

  1. Using the PCIe cables, connect the PSU with the Antminer S9. This will automatically connect the miner to the Ethernet cable.
  2. After this, you will have to turn on the PSU, ensuring that the miner has started working.
  3. The last step is to connect your PC to the same network as the miner and you are done.

ASIC Miners: Getting Started

Before you start building up hardware for bitcoin mining, there are a few things that you need to consider. There are some people who prefer to set up the mining rigs at their homes but if you are thinking about making a substantial profit, you will have to have a proper setup that is not feasible at homes.

You have to make some tough calculations and get the answers to what you want in profits. You can put in thousands of dollars and then not make a profit if you are not set up with the right equipment. This will just be a waste of your efforts and money and you will end up regretting ever putting your mind to bitcoin mining.

If you are looking to join the industry and make a profit, you will either have to build up a hardware that is capable of making you profits or purchase one of the pre-built rigs that are available in the market.

There are a few things that you require when you are looking to mine some bitcoins. These include:

  1. An ASIC miner,
  2. A software that is going to be compatible with the miner, such as BFGMiner or CGMiner,
  3. A bitcoin mining calculator that will help you determine the number of altcoins that have been mined. This figure will be in cahoots with the power of the ASIC mining gadgets that you have.
  4. You can also use an additional fan for a better cooling of the components.
  5. A Bitcoin wallet. This will be the wallet where you will be storing the all the coins that have been mined by your setup.
  6. You can also use a slush pool as a pool mining account.

The process of mining is quite easy to understand and once you are familiar with it, you will be able to start the process whenever you want once you have the hardware set up.

  1. The first thing that you have to do is to connect your ASIC miner gadget to your PC.
  2. After that, you can use the bitcoin mining calculator to calculate the proceeds in the form of the bitcoin results.
  3. If you do not have a pool mining account, sign up for a slush pool account. You will need to connect the ASIC miner to the pool mining account.
  4. The next step is to set up the configuration of the pool mining account. Usually, this step requires the address of the server port and the pool.
  5. After this, you will need to boot up your bitcoin mining software, such as the CGMiner or the BFGMiner.
  6. The software will then ask you to enter your address pool, port, username and password.
  7. Start the mining process and mine the bitcoin accordingly.

How to Choose the Best Mining Hardware

1. Hash Rate

Hash rate refers to the number of complex calculations that the hardware can complete in every second. The Hash rate is a critical factor as a high hash rate increases the chances of solving the complex mathematical computations necessary for earning Bitcoin as a reward.

In Bitcoin mining, what you will be looking for is a specific solution. With hash algorithms, similar mathematical problems will always give similar solutions. They are however designed to run unpredictably. As such, the only best way to get the specific solution right is to try many different (randomly). In addition to this, you should note that mining is competitive. Since after all the transaction request is broadcasted to the peer network. So the miner who gets it right first gets the reward. For these reasons, a high hash rate is essential for profitable mining.

Hash rate is measured in Megahashes or Gigahashes or Terahashes per second. The very first mining hardware featured a hash rate of between 336 MH/s and 14,000,000 MH/s.

2. Energy Consumption

Bear in mind that bitcoin mining is an investment. Given that, there are some costs you will have to bear to sustain the Bitcoin mining process. One of the expenses you will have to cater to is energy costs.

The more powerful the hardware you use is the electricity you should expect to consume. As such, before you purchase any mining hardware, you should consider electricity consumption rating in watts. Knowing this will help you work out the costs of energy consumed by the unit. It will help you determine the viability of Bitcoin mining using the said hardware. If your calculations assess the revenue of mining BTC to be less than that of the subsequent energy bills, then the venture is not worthwhile.

Using the energy consumption and hash rate numbers, you can determine just how many hashes can be mined from every watt of electricity flowing through your mining hardware. To make this calculation, divide the hash rate by the hardware’s watt consumption.

For instance, if you have a hardware hash rate of 4500 MH/s and it requires about 32 watts of energy, then expect the mining hardware to provide you with approximately 140,625 MH/s for every watt of electricity. To calculate the power bill you should expect every week, month or year, make use of the online Bitcoin mining energy calculators.

Do the same calculations apply when using a laptop, one may wonder? Well, they do. Laptops consumer energy and have a hash rate as well. Follow the above formula to calculate the energy costs.

3. Price

The price of the mining hardware is also essential. Do not forget most of the cheap mining hardware will rake in a few Bitcoins. Expensive Bitcoin mining hardware is unique, fast and efficient. To make a fortune from the Bitcoin mining business, be ready to invest. Aim for value and quality in your purchase.

How ASIC Miner Have Changed the World of Cryptocurrency Mining

When the idea of the bitcoin and the bitcoin mining was still new, all you needed was a normal PC with the normal CPU and GPU to start the mining. However, when the idea became popularized, the traditional equipment could not get the desired hash rate. This is when the advancements began to be made. It was known beforehand that when the demand of the bitcoin will rise, there will be a need to develop better hardware to keep up with the demand.

When the traditional CPU proved itself to be ineffective, there was an addition of the GPUs to the system. This kept the hash rate up for a while. However, the exponential growth of the demand meant that there was a need for a better hardware to keep up with the market.

This is when the GPUs became more advanced and stacks of them began to be used to get a higher hash rate. However, the cost of electricity began to rocket through the skies and mining coins on stacks of GPUs stopped being feasible as well.

As and when the miners increase in number, there is going to be a drop in the hash rate if you are using the same equipment. This is when the need for a better technology arose and the ASIC chips came into existence.

As we know quite well by now, the ASIC chips are designed for the sole purpose of mining and they are quite efficient in comparison with the GPUs, producing a higher hash rate at a lower consumption of electricity. This specialized technology has done marvels and companies and individuals around the world have started their own mining farms after the ASIC chips came out.

Since this technology was developed for the sole purpose of mining and cannot be used anywhere else, the cost has to be born by the customers of mining only. This is why some of the best ASIC miners in the world can cost thousands of dollars every month.

There is quite a lot of heat produced when the ASIC miners are at work. This is one of the sole reasons why many companies in the world are having a hard time looking for a suitable place to set up their mining farms. There is a huge requirement of space to accommodate all the equipment and the electricity has to be cheap too. A lot of the space is taken up by the fans that are used to cool down the equipment.

On the other hand, there are some companies which do not have any trouble with this arrangement and they have set up huge mining farms. This has led to the mining of the bitcoin and validation of the blockchain to become more of a centralized process since most of the mining is being done by these few companies.

Can we Mine Without ASIC Miners? YES!

Even though everyone around the world is going to recommend that you invest in an ASIC miner, there are a few other ways in which you can mine the bitcoin and other altcoins. These include:

  • Mining Pools: This is the process of collaborating with others in the pool and combining the computing power of all to create a block. The rewards of this block are then shared among all the members of the pool propotional to the computing power that they contributed.
  • USB Miners: This is one of the simplest ways of mining; the only thing that you have to do is plug in the USB Miner to the PC. However, it is quite inefficient and is usually considered a waste of the time and money.
  • CPU: This is going to be one of the simplest way of mining; the only requirement is the CPU with a strong processor. This was going to be fruitful a decade ago but now it is not going to bring about any result.

Choosing the Best ASIC Miner: What’s Your Choice?

Ultimately, the decision of whether or not to mine Bitcoin lies with you. However, if you need the best mining hardware to make your mining venture profitable, then above are some of the top asic miners you should consider. Ensure you consider the factors we have listed above before choosing the best asic miner.

Hektor Ehring Jeppesen

Hektor was first introduced to Bitcoin back in 2017 when one of his clients paid him in Bitcoin. This got him curious and he started exploring services and products related to Blockchain and Cryptocurrencies. He started Bitcongress so that he could share his findings through in-depth guides on the platforms.

Sours: https://www.bitcongress.org/bitcoin/mining/best-bitcoin-mining-hardware/
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Investment Opportunity with ASICLine miners

Saint Paul, MN, Oct. 30, 2020 (GLOBE NEWSWIRE) -- ASICLine ( https://asicline.com ) has recently pioneered a new era in the world of cryptocurrency mining with the official launch of its two miners FirstLine and PowerBox. These advanced range of 5nm ASIC miners make crypto mining simple, affordable, and profitable like never before, with several features that are unheard of in the industry. 

Hash rate and power consumption are the two key parameters determining the profitability of cryptocurrency mining. In both these fronts, FirstLine and PowerBox beats all other available products hands down. Naturally, within the current level of mining difficulty, the profit making potential of these two products is higher compared to any other product. 

Hash Rate and Power Consumption: 

⦁ FirstLine: Bitcoin 410 TH/s, Litecoin 60 GH/s, Ethereum 8 GH/s, and Monero 3 MH/s, and 650 W power consumption. 

⦁ PowerBox: Bitcoin 1250 TH/s, Litecoin 180 GH/s, Ethereum 24 GH/s, and Monero 9 MH/s, and 1800 W power consumption. 

Power consumption of 650 W and 1,800 W respectively, for FirstLine and PowerBox. 

Profit per Month:

⦁ FirstLine: $960 (Bitcoin), $4,152 (Litecoin), $6,345 (Ethereum), and $7,071 (Monero)

⦁ PowerBox: $2,942 (Bitcoin), $12.4K (Litecoin), $19 K (Ethereum), and $21.1 K ( Monero )

Easy to Use: Users are just required to plug in, and connect to the internet through Wi-Fi or cable, enter the pool data or select ASICLine pool, which has 0 % fee, and insert wallet address and start mining. No prior knowledge in IT or mining is required. 

“The global lockdown has deprived millions of people from their livelihood and we are happy to create a profitable work-for-home opportunity for all through ASICLine,” said ASICLine CEO Martin Muller.

To find out more, visit https://asicline.com/

About ASICLine: ASICLine was founded by a team comprising of multiple investors dedicated to bringing the latest ASIC technology miners to the market before the so-called technology giants use them for a long time for their own profit and dump them on the market when they are no longer profitable. Whenever a new generation of ASIC is available, ASICLine is committed to bringing it to the public for a price they can afford. The company is now offering an advanced range of ASIC miners with guaranteed profitability.

Media Contact: Nicolas Smit

+1 (206) 965-8243

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acisline-microchip
Sours: https://www.globenewswire.com/en/news-release/2020/10/30/2117981/0/en/Investment-Opportunity-with-ASICLine-miners.html
Oakley Line Miner VS Line Miner XM - SportRx

ASICLine releases 5nm ASIC Miners

ST. PAUL, Minn., Oct. 21, 2020 (GLOBE NEWSWIRE) -- ASICLine Inc. is pleased to announce the official release of its new 5nm ASIC miners FirstLine and PowerBox. Both these multi-algorithm miners have been designed with the goal of ensuring lightning fast hash rate, maximum energy efficiency, and fastest return on investment for all crypto mining enthusiasts regardless of their experience. Both the products are now up for sale via the company’s website www.asicline.com and can be shipped worldwide in just 7 days.

ASIC mining is the latest buzzword in the world of crypto mining with a significantly higher speed and efficiency compared to the conventional GPU mining. To guarantee profitability for its customers, ASICLine has come up with two miners offering unrivalled hash rates and exceptionally low power consumption.

FirstLine: Bitcoin 410 TH/s, Litecoin 60 GH/s, Ethereum 8 GH/s, and Monero 3 MH/s, and 650 W power consumption.

PowerBox: Bitcoin 1250 TH/s, Litecoin 180 GH/s, Ethereum 24 GH/s, and Monero 9 MH/s, and 1800 W power consumption.

ASICLine miners can be used easily by anyone without any difficulty. Users just need to connect the unit to a power socket and access it through WiFi or cable, enter the pool data or choose ASICLine’s free mining pool and start mining. All these miners are delivered pre-configured with Linux based system equipped with ASICLine software, offering an easy to use interface.

“We have been working relentlessly to bring the benefits of the latest ASIC technology to common people for a price that is within their reach. If you are looking make a decent profit out of crypto mining, your search ends right here at ASICLine,” said ASICLine CEO Martin Muller.

To find out more, please visit https://asicline.com/

About ASICLine: ASICLine was founded by a team comprising of multiple investors dedicated to bringing the latest ASIC technology miners to the market before the so-called technology giants use them for a long time for their own profit and dump them on the market when they are no longer profitable. Whenever a new generation of ASIC is available, ASICLine is committed to bringing it to the public for a price they can afford. The company is now offering an advanced range of ASIC miners with guaranteed profitability.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/df9ced69-abac-4c3d-a6fc-a5da262a1c92


PowerBox
Sours: https://www.globenewswire.com/en/news-release/2020/10/21/2112160/0/en/ASICLine-releases-5nm-ASIC-Miners.html

Miner asic line

Jordan Tuwiner Last updated September 6, 2021

Best mining asics

Bitcoin mining as a hobby can be fun and even profitable if you have cheap electricity and get the best and most efficient Bitcoin mining hardware.

Bitcoin mining is competitive. Until recently, it’s not been ideal for the average person to mine since China’s cheap electricity has allowed it to dominate the mining market. But that has changed since China outlawed mining in their country. Even with this recent change, if you want bitcoins then you are better off buying bitcoins.

Bitcoin Mining Hardware Comparison

*BuyBitcoinWorldwide.com averages prices from various online sources. Actual prices may vary depending on seller.

What is an ASIC Bitcoin Miner?

Since it’s now impossible to profitably mine Bitcoin with a standard computer or laptop, you’ll need specialized hardware called ASICs.

Here’s what an ASIC miner looks like up close:

halong mining dragonmint ASIC

Originally, Bitcoin’s creator intended for Bitcoin to be mined on CPUs (like your laptop or desktop computer). However, Bitcoin miners discovered they could get more hashing power from graphic cards. Graphic cards were then surpassed by ASICs (Application Specific Integrated Circuits).

Think of a Bitcoin ASIC as specialized Bitcoin mining computers, Bitcoin mining machines, or “bitcoin generators”.

Nowadays all serious Bitcoin mining is performed on dedicated Bitcoin mining hardware ASICs, usually in thermally-regulated data-centers with low-cost electricity.

Don’t Get Confused

There is Bitcoin mining hardware, which mines bitcoins.

There are also Bitcoin hardware wallets like the Ledger Nano X, which secure bitcoins.

Also:

Quick Tip

Mining Bitcoin is NOT the best way to get bitcoins. Buying Bitcoin is.

Mining is not the fastest way to get bitcoins.

Buying bitcoin with a debit card is the fastest way.

To buy bitcoin in your country, check our country guides:

…or visit our exchange finder if your country is not listed above.

Check Profitability

You can use our calculator below to check the mining hardware above. Input your expected electricity price and the hash rate of the miner for an estimate.

Bitcoin Price ($):

Power consumption (watts):

Cost per KW/h in $:

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Profitability Factors

The Bitcoin price and the total network hash rate are the two main factors that will affect your profitability.

Our calculator is more accurate than most others because ours assumes the 0.4527678% daily increase in network hash rate. This has been the average daily increase over the past 6 months.

Most other calculators do NOT include this metric which makes mining appear way more profitable than it actually is.

The Bitcoin Price

Bitcoin mining is a booming industry, but the Bitcoin price increasing can help make up some of these losses.

The Bitcoin price is increasing at an average of 1.039% per day over the past year. Try messing with the calculator using different prices.

Know your Competition

It may seem easy to just spin up a miner.

But you NEED to take a look at just how serious mining is.

The video below offers an inside look at what was one of China’s largest mines.

How to Find the Best Bitcoin Miner

There are some important factors to look at when determining which Bitcoin mining ASIC to buy:

Hash rate – How many hashes per second can the Bitcoin miner make? More hashes cost more, which is why efficiency is crucial.

Efficiency – You’ll want to buy the most efficient bitcoin mining hardware possible. Right now, this is the Halong Mining Dragonmint T1. Since miners use a large amount of electricity, you want to buy one that converts the most amount of electricity into bitcoins.

Price – How much does the bitcoin miner cost? Cheap mining hardware will mine less bitcoins, which is why efficiency and electricity usage are important. The fastest and more efficient mining hardware is going to cost more.

Don’t try to buy a miner based on only price or only hash rate. The best ASIC miner is the most efficient bitcoin miner. Aim for value.

QUICK TIP

You can also mine litecoin with Bitcoin mining machines, but it's usually just best to buy litecoin from an exchange.

Bitcoin Miners for Sale on eBay or Amazon

If you’re a hobby miner who wants to buy a couple rigs for your house, eBay and Amazon both have some decent deals on mining hardware.

Used Bitcoin Mining Hardware for Sale

Both new and used bitcoin mining rigs and ASICs are available on eBay. One may want to buy used ASIC mining hardware on eBay because you can get better prices.

ASICs for sale on Ebay

eBay’s customer protection ensures you’ll get a working product. Other bundled equipment may be included with your purchase depending on the seller.

We recommend purchasing the Dragonmint or the Antminer S9.

Hardware Profitability

You can use a bitcoin mining profitability calculator to determine your estimated cost of return on your mining hardware.

Be sure to take electricity costs into account. Most mining hardware appears profitable until electricity costs are accounted for.

The best way to determine actual profitability is to figure out your electricity cost per hash. That is really what will make or break your operation.

Most Efficient Bitcoin Miners

While good Bitcoin mining hardware needs to have a high hash rate, efficiency is just as important.

An efficient Bitcoin miner means that you pay less in electricity costs per hash.

To improve your efficiency, there are also companies that will let you order hardware from their warehouse and run the miners for you.

You could also cloud mine bitcoins, though these deals are usually scams. Both options are also a lot less fun than running your hardware!

Bitcoin Mining Hardware Companies

Bitmain – Bitmain makes the AntMiner line of Bitcoin miners. Bitmain is based in Beijing, China and also operates a mining pool.

MicroBT – MicroBT is another Chinese ASIC miner manufacturer, based out of Shenzhen. Their WhatsMiner series is a major competitor to Bitmain’s AntMiner line.

Canaan – Canaan put the very first commercial Bitcoin ASIC miner to market. In addition to making Bitcoin mining machines, Canaan also has a suite of blockchain tools and business solutions.

Bitcoin Mining Equipment

In addition to a Bitcoin mining ASIC, you’ll need some other Bitcoin mining equipment:

Power Supply – Bitcoin rigs need special power supplies to funnel and use electricity efficiently.

Cooling Fans – Bitcoin hardware can easily overheat and stop working. Buy a sufficient amount of cooling fans to keep your hardware working.

Backup generators – You may want generators as a backup in case your main source of electricity goes down.

You can find Bitcoin mining equipment for sale on eBay.

Bitcoin Mining Without Hardware?

It’s still technically possible to mine bitcoins without dedicated mining hardware.

However, you’ll earn less than one penny per month. Mining bitcoins on your computer will do more damage to your computer and won’t earn a profit.

So, it’s not worth it unless you’re just interested to see how the mining process works. You’re best bet is to buy dedicated hardware like the Antminer S19.

ASICs’ Impact on Cryptocurrency

Bitcoin is based on blockchain technology, a decentralized platform which takes power away from a central authority and gives it to the average person. Sensitive information is stored on the blockchain rather than large data centers, and is cryptographically secured. A vast amount of people, known as miners, all work together to validate the network, instead of just one person or government.

In the beginning, CPUs were used to solve cryptographic hash functions, until miners discovered that GPUs were far better equipped for mining. As block difficulty increased, miners turned primarily to GPUs.

Some GPUs were made solely for mining Bitcoin.

Eventually, technology was developed solely for mining, known as ASICs, or Application Specific Integrated Circuits. Their hashrates are significantly higher than anything GPUs are capable of.

With stellar performance comes a high price tag – the best ASIC chips will run you a few thousand dollars each. Upon creation, Bitcoin blocks were confirmed by the average person using their desktop – once ASICs hit the market, things changed.

How?

ASICs rendered GPUs useless. ASIC developers, including Bitmain, granted early access to large mining cartels rather than the average person.

Photos from inside a Chinese Bitcoin mining operation

Thousands of ASICs all mine simultaneously in a mining farm (large warehouse). Evidently, most people can’t afford even one or two of ASICs so thousands of them would be out of the question.

When ASICs hit the market, the blockchain’s validation process became more centralized as more and more hashing power was consolidated into a handful of mining companies, rather than being spread out amongst many miners. Unfortunately, Bitcoin is no longer as decentralized as it was once intended to be.

-

Successor to the Throne

Bitmain Antminer S19 Series

Pros

  • Market-leading hashrate at up to 115 TH/s, and efficient at ~30 Joules per TH/s
  • Reasonably priced at $440 new (plus shipping)
  • Popular miner with plentiful guides and parts available

Cons

  • Out of stock at Bitmain and tricky to find elsewhere
  • Very high power consumption of 3250W
  • Very noisy at 81.4 dB

Bitmain’s AntMiner S7 proved so popular since its release in mid-2015 that it reached 19 batches of production.

Now, Bitmain has released a new series: the AntMiner S19.

bitmain antminer s19

The S19 is the latest and greatest Bitcoin ASIC miner from Bitmain. It comes in three models: the Antminer T19, Antminer S19, and Antminer S19 Pro.

The T19 puts out 84 TH/s, the S19 95 TH/s, while the S19 Pro boasts up to 110 TH/s of hashing power.

Prices start at $2,118 for the T19 and run to $3,769 for the S19 Pro.

Power Supply

The S19 Antminers require 3250W of power, ± 5%.

The power supply units (PSUs) are included with the miners themselves, meaning you won’t need a separate piece of hardware.

Power Consumption

The S19 draws an average of 3250 Watts at a room temperature of 25^C / 77^F. Naturally, the hotter the environment, the more energy the fan(s) will consume to cool the unit.

Setup

Setting up an S19 via the MinerLink GUI is a simple process, requiring only your mining pool credentials to begin mining.

The units will automatically begin hashing upon powering up, which can be helpful in the event of power failure. S19 connectivity is via Ethernet only.

Temperature

The S19 series miners operate best within a temperature range of 5-40 degrees Celsius (40-105 Fahrenheit).

Keeping the room in which they’re placed cool and dry will extend the life of these miners. A dry basement is an ideal location.

Price

Note: Before you buy an Antminer S19 make sure you already have Bitcoin mining software and a Bitcoin mining pool.

The S19 is currently out of stock due to the high demand for this latest generation of ASIC miners. You can get a used one from anywhere from $6,000 to $8,500.

As new models are released and commercial miners upgrade, you can expect the price of the S19 series to drop further.

Bitcoins / Month (Profitability)

Mining difficulty on the Bitcoin network has been steadily rising at a rate of almost 0.5% per day. Combine that with the fact that the block reward was halved in May 2020, and you can see why there’s fierce competition between miners to successfully validate blocks and remain profitable.

Let’s take a look at how profitable you can expect your mining to be using an AntMiner S19.

We’ll use the most accurate Bitcoin mining calculator out there, which takes into account a number of dynamic variables (such as mining difficulty) to give the best idea of projected returns.

We’re assuming an average household Power Cost of 12c per kWh, a Pool Fee of 2.5% (as charged by AntPool) and a Block Reward of 6.25 BTC per block mined:

antminer s19 profitability

As you can see, the S19 is actually a great investment. You’ll almost recoup your entire initial investment in under a year - if paying full price for the S19 from Bitmain - and easily mine your way into the black if you get a discount on the hardware when purchasing.

QUICK TIP

It might make more sense to invest money into buying Bitcoin directly or diverting some of your 401k money into a qualified Bitcoin IRA instead of buying mining hardware like the S19.

There is of course the big brother to the S19, the S19 Pro!

The S19 Pro boasts up to 110 TH/s of hashing power.

Power Supply

The S19 Pro power supply is the same as the S19 Pro - 3250W of power, ± 5%.

Power Consumption

The S19 Pro generates an average of 81.4 dB while operating.

Setup

Setup for the S19 Pro is the same as the S19. MinerLink GUI is easy, requiring only your mining pool credentials.

The units will automatically begin hashing upon powering up, which can be helpful in the event of power failure. S19 Pro connectivity is also via Ethernet only.

Temperature

Temperature is the same as the S19 - between 5-40 degrees Celsius (40-105 Fahrenheit).

Price

Note: Before you buy an Antminer S19 make sure you already have Bitcoin mining software and a Bitcoin mining pool.

The S19 Pro are also currently out of stock. However, used and second hand models can be had for between $8,000 and $10,000.

Bitcoins / Month (Profitability)

Using all the same assumptions that we did for the S19, you can expect a nice profit around $2,000 a year.

antminer s19 pro profitability

Verdict: Is the S19 or S19 Pro Right for You?

Difficulty has over 300X’d since then, climbing from 0.52 EH/s to the current record high of 158.4 EH/s.

The S19 is one of the most advanced mining units on the market today. Bitmain has consistently been at the top of the game when it comes to ASIC miners.

While supply is limited, and the relatively high initial may be a deterrent, if you have access to cheap electricity you really can’t do much better than the S19 series.

The S19 strikes a good balance between power and affordability, while if money is no object the S19 Pro will churn you out an awesome 115 TH/s.

-

A Challenger to the AntMiner Crown?

WhatsMiner M30S

The WhatsMiner M30S+ and M30S++ are Shenzhen-based MicroBT’s answer to the Bitmain AntMiner S19 and S19 Pro. The M30S++ puts out 112TH/s ±5%, pushing it a hair above the S19’s maximum output.

Let’s take a look at how they compares.

…or visit our exchange finder if your country is not listed above.

WhatsMiner M31S+

Price and Power

The M30S+, whose 100 TH/s hashing power is comparable to the S19. Unfortunately, its no longer for sale on MicroBT’s site so you’ll need to get it second hand.

Bitcoins / Month (Profitability)

Let’s take a look at how profitable you can expect your mining to be using a WhatsMiner M30S+.

We’ll again use our Bitcoin mining calculator, which takes into account a number of dynamic variables (such as mining difficulty) to give the best idea of projected returns.

We’re assuming an average household Power Cost of 12c per kWh and a Block Reward of 6.25 BTC per block mined:

whatsminer m30s+ profitability

Power Supply and Consumption

The WhatsMiner M30S+ consumes slightly more power than the AntMiner S19 series, and is slightly less efficient at turning electricity into Bitcoins.

It has an efficiency of 34 J/TH..

The M30S+ generates around 83.0 dB of noise while operating.

Temperature

The WhatsMiner M30S+ operates best between -5 and 35 degrees Celsius (23-95 Fahrenheit). This is a wider range than the AntMiner S19 series, and the lower temperatures it can operate at means you may see slightly improved efficiency.

WhatsMiner M30S++

Price and Power

The M30S++ comes in at $3,250 on MicroBT’s online store, making it quite a bit cheaper than the S19 Pro.

Bitcoins / Month (Profitability)

We’ll use the same assumptions here that we have with the other miners to keep things consistent.

whatsminer m30s++ profitability

While you’ll spend nearly $3,600 per year on electricity, the WhatsMiner M30S++’s 112 TH/2 will make you a profit of $3,611 per year. This means that you’ll need to mine for a little under a year to recoup your initial investment.

whatsminer m30s+ profitability

Power Supply and Consumption

The M30S++ requires 3472W and runs at an efficiency of 38 J/TH.

Temperature

The WhatsMiner M30S++ again operates best between -5 and 35 degrees Celsius (23-95 Fahrenheit).

Verdict: Is the M30S+ and M30S++ Right for You?

The top-of-the-line M30S++ model’s 112 TH/s means it competes directly with the AntMiner S19 Pro.

However, the M30S series models put out less hashing power than the AntMiner equivalents. They consume more power, and are a little less efficient at turning this into terahashes.

Despite this, you get more hashing power per dollar invested with MicroBT’s WhatsMiner offerings. And AntMiners are incredibly sought-after by the biggest miners in the world, making it hard to get your hands on one.

Overall, the WhatsMiner M30S series is a phenomenal Bitcoin miner, with hashing power rivalling the AntMiners.

If you can get a good deal on a WhatsMiner M30S, use our calculator to see how long it will take you to make a profit in your investment.

-

Another Worthy Challenger

Canaan AvalonMiner 1246

Canaan AvalonMiner 1246

Canaan was the first company to produce commercial ASIC Bitcoin miners. Safe to say, they have some expertise in the field.

So how does their latest offering - the AvalonMiner 1246, released in January 2021 - stack up to the competition?

Let’s dive in.

Price and Power

The AvalonMiner 1246 puts out 90 TH/s. This makes it comparable to the AntMiner S19 and the WhatsMiner M30S.

It retails for around $5,500, making it quite a bit more expensive than the offerings from Bitmain and MicroBT.

Bitcoins / Month (Profitability)

The Canaan AvalonMiner 1246 should make you a profit, providing you have access to electricity at or around the median price in the U.S. of $0.12/kWh.

avalonminer 1246 profitability

It’ll take you about two years of mining to make back your initial investment.

Power Supply and Consumption

The AvalonMiner 1246 draws 3420W at the wall.

Compared to the AvalonMiner 1146, the 1246’s energy efficiency has improved by 37%: from 52 J/TH to 38 J/TH.

It generates a maximum of 75 dB while operating, making it noticeably quieter than either the WhatsMiner M30S or the AntMiner S19.

Temperature

The AvalonMiner 1246 operates best between -5 and 35 degrees Celsius (23-95 Fahrenheit). This is a wider range than the AntMiner S19 series, and equal to that of the WhatsMiner M30S.

Verdict: How Does the AvalonMiner 1246 Stack Up?

With Canaan, you know you’re getting a battle-tested product.

That said, the AvalonMiner 1246 doesn’t offer the most terahashes per dollar spent. If you’re looking for the most hashing power, Bitmain’s S19 series and MicroBT’s M30S have it beat.

Mining Difficulty and Centralization

Bitcoin’s Difficulty has recorded several strong and often consecutive monthly increases since its creation. The network has seen a massive increase in hashrate since the July 2016 halving.

In the nearly five years since, total network hashrate has climbed more than 100-fold from ~1.5 EH/s (exahashes per second) to 168 EH/s.

The current all-time-high occurred on February 8, 2020, when Bitcoin miners collectively contributed 175 EH/s of hashing power to the network.

Such tremendous growth has been spurred by major investment into Bitcoin mining technology and operations.

While such growth is impressive, making Bitcoin the world’s most powerful computing network by far, one unintended consequence of such rapid growth has been increased centralization.

Profits have accumulated where mining is most profitable (China), with the result that several competing operations (eg. KNC) have been forced out of the industry.

We have tried to calculate the amount of money that the Chinese have invested in mining, we estimate it to be in the hundreds of millions of dollars. Even with free electricity we cannot see how they will ever get this money back. Either they don’t know what they are doing, but that is not very likely at this scale or they have some secret advantage that we don’t know about. – Sam Cole, KNC CEO

The same Chinese competitive advantage has been doubly effective at squeezing the profit-dependent hobbyist miner from the market.

At this stage, most home or office miners aren’t hashing to earn money but rather to support the network, aid decentralization and possibly even to heat space.

With the block reward halving looming, the profitability of all but the most efficient operations will likely be challenged.

Profits derived from the current generation of mining hardware are dwindling and will likely reach negative returns when the next halving rolls around.

What is CompassMining?

CompassMining is what is known as a ‘colocation mining company’.

Basically, regular people who can’t afford to start a mining farm or source dozens of ASIC miners can partner with a company like CompassMining.

With Compass, you simply make an account and then go through a purchasing process.

You’ll choose some ASICS to buy.

buy asics compassmining

Then you’ll choose a hosting package at one of CompassMining’s many state of the art facilities.

Each facility comes with its own power costs and security features. For instance, the Colorado, USA location requires biometric access for all personal.

buy asics compassmining

And then you checkout using card, bank wire, or (for a slight discount) crypto.

QUICK TIP

If you want to pay via bank wire, choose 'Pay with Stripe' and then choose 'Bank Wire' from the pop-up.

buy asics compassmining

After you make your purchase, your hardware will be delivered to your specified hosting location where it will be installed and maintained by CompassMining staff.

You will be able to monitor and control all of your mining activities from the comfort of your own home without any of the headache of running a mining farm by yourself.

And best of all, you get to leverage CompassMining’s fantastic electricity prices without having to strike up a deal with a large power company on your own.

In exchange, Compass makes money on the hosting fees and the hardware you buy through them.

Final Thoughts

Mining bitcoins at home has almost become an impossible task these days.

Not only are the devices expensive but they also generate a lot of heat and noise, not to mention the amount of electricity they consume.

This makes it uncomfortable and almost impossible to make any profit!

Unlike with the Antminer S9, S7, or Antminer S5, with Antminer R4, Bitmain is targeting the home Bitcoin miner market.

It is a home Bitcoin miner that may actually turn a profit, unlike Bitcoin USB miners.

Some of these problems mentioned above have been addressed and as a miner you can do it as a hobby while also making some money.

This home Bitcoin miner is not only a good fit for hobby miners but also helps to improve the decentralization of Bitcoin mining as a whole.

The more distributed the hash power, the stronger the Bitcoin network!

Sours: https://www.buybitcoinworldwide.com/mining/hardware/
Is Mining on ASICs Worth It? - Mining Adventure Part 3

A very long time. '' I understand that yes, I continued. So tell your Leshem that I owe you, I will beat him in the head, and even if at this moment you are with him, it will. Not stop me. - Farewell Sasha.

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