Some see the mining of bitcoin as a hobby. Others see in this lesson a profitable business or a way to get profit. To evaluate the profitability of miner hardware, you need to compare the cost of electricity, device and some fees. Sometimes it turns out that to buy coins is more profitable. We will cover all this in more detail in this review.
What is an ASIC Bitcoin Miner?
ASIC stands for the application-specific integrated circuit. These schemes do not perform general functions but act only in a strict framework to solve a specific problem. Therefore, to mine the Bitcoin through ASICs is chip then using another Bitcoin mining hardware.
Initially, crypto enthusiasts could receive Bitcoin with computer help. Mining is the award of aggregate mathematical problems using specialized powerful miners hardware and software.
Then they started to use graphic processors and FPGA (field-programmable gate array), but soon they also ceased to be quite useful. ASIC miner is the best bitcoin miner of the latest generation. It provides a higher cryptocurrency mining speed, the machine heats less and consumes less electricity.
You can try mining through the computer, but only as a hobby or to understand how this process occurs. The hash power (computing power) and the hash rate of conventional computers are significantly lower (about 40-50 times) than mining rig.
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Hardware Profitability Factors
Best miners should be profitable. New machines should cover the prices you pay for them. Moreover, the Bitcoins received must have more high values than the electricity spent on their production.
To calculate the worth of all factors, you need to make a comparison. The difficulty is that the value of BTC is continuously changing. Before you buy mining rigs, make a simple calculator:
- Hashing rate;
- A bitcoin sale price;
- Power consumption;
- How much USD a participant needs to pay per month for current;
- The number of coins you get per month.
How to Find the Best Bitcoin Miner
To choose the best Bitcoin mining chip, first, a client should to find out which is the most powerful of the miners accessible. Best Bitcoin mining hardware has the following features:
- Most significant hash rate will permit to get more currency.
- Effectiveness is expressed in how much electricity is required to get a certain sum of coins. Currently, the most effective is the ASIC mining hardware.
- The price of the fastest equipment cannot be low or average. The lower the cost, the smaller the efficiency (you may even go negative).
- Beware of scam on the mart. Trusted manufacturers can be sold on eBay or Amazon. But before buying, check all the details about graphics and setup.
Bitcoin Mining Hardware Companies
Even a used hash miner may be beneficial to you. Check out ASIC Bitcoin miners such as Dragonmint miner or The Antminer S9.
In addition to high speed, manufacturers must provide a low hash price. It means that the performance of the facility will be high.
Here are reliable brands to watch out for.
This brand is created in China and produces reliable Bitcoin ASIC chips. The most popular among devices is Bitmain Antminer. The equipment of this brand is capable of mining coins of Bitcoin, Litecoin, Ethereum and Dash. Besides, the company owns one of the greatest Bitcoin pool.
It is a famous Chinese apparatus brand that started with FPGA. As technology stepped forward, the company released its own ASIC chip. The market share held by the brand is about 20%.
Halong Mining collaborates with Samsung brand from South Korea. The company entered the market only in 2018 but has already become a leader in this industry. Halong Mining produces the most powerful Bitcoin miner ASIC to date, called DragonMint T1.
The international company has branches in the USA and China. The brand specializes in diverse digital technology. The brand is currently releasing one of the best ASIC Bitcoin mining hardware called Terminator T3.
GMO Internet is a Japanese brand. The company is engaged not only in the production of cryptocurrency equipment but also in advertising and financial services via the Internet. The brand even has its projects among crypto exchanges working on the blockchain (such as Coinbase).
Zhejiang Ebang communication
The abbreviated name sounds like Ebang. The main field of activity of the company is the creation and sale of optical fiber for telecommunications. The latest ASICs mining equipment is one of the best using ASICs and competes with Bitmain.
Bitfury is one of the first companies to start producing Bitcoin miners. Bitfury themselves mine coins on their equipment. Large data centers are located in Canada, Norway, Iceland, Georgia. The range includes ASIC mining chips, servers, and portable data centers.
Bitcoin USB Miners Comparison
USB miner is not high-performance equipment. This type of device only helps you understand the principle of coin mining. Besides, USB mining equipment is cheaper.
ASICMiner Block Erupter USB 330MH / s Sapphire Miner
There is the standard option among USB Bitcoin miners. The expected profit is only $ 0.01 per month. At the same time, the hash power is 330mh/s-336mh/s.
GekkoScience Compac USB Stick Bitcoin Miner
The device works simply through the connected USB port, absolutely silently. At the same time, your profit will be approximately 0.15 USD per month.
Avalon Nano 3
Do not confuse this device with the crypto wallet Ledger Nano. Both devices look about the same, but they have entirely different functions. A wallet keeps your coins. While Avalon Nano 3 allows you to get Bitcoins for 1 USD per year.
Bitmain Antrouter R1 Wifi Solo Bitcoin Miner
Your production will be a little more than 1 USD per year. Even with the low price of equipment, it does not look too cost-effective. But this device has an additional plus. It also operates as a wireless router, providing you with wireless Internet.
21 Bitcoin Computer
There is not the most efficient USB bitcoin miner. It connects via a standard USB port. But under the current circumstances, you are unlikely to be able to count on profit in virtue of the poor hash rate.
Dragonmint T16 vs. Antminer s9
In 2019, the most efficient Bitcoin miner is Dragonmint T16. The manufacturer supplied a 16 t / s machine. No other equipment can boast such an indicator.
Using Dragonmint T16, you also save energy. The user needs only 0.075 J / GH. While the Bitmain Antminer S9 consumes 0.098 J / GH.
And another Dragonmint T16 bonus is the ASICBOOST algorithm, which increases the effectiveness by 20%.
Now comparing electricity consumption, din seems like a slight advantage. But if you intend to mine coins in pro volumes, you will feel the savings. Returns to the price of electricity. Even if it is high, both ASICs Bitcoin installations will bring you profit.
Bitmain Antminer S7
The first release of Antminer S7 came in 2015. Those days, it was the most effective equipment. The BM1385 ASIC chip and two cooling fans are integrated into the metal case. The manufacturer recommends the additional use of a 1600 W power supply.
- The hash rate is 4.73 TH / s;
- Efficiency is about 0.25 J / G / s;
- Equipment is in the middle price category;
- There are many instructions on working with Antminer S7 available on the market;
- Easy to buy spare parts if necessary.
- Antminer S7 is less capable than the modern AntMiner S9;
- High energy costs await you;
- To achieve stable results, you need an additional power supply;
- Noise during operation exceeds the average.
Currently, even if the user does not takes into account the worth of the device, but only the cost of electricity, he receives losses. Perhaps if the value of Bitcoin increases significantly, this equipment could be a bargain.
Bitmain Antminer S5
The equipment, emitted in 2014, loses much in power to modern devices. Antminer S5 consumes only 590 W and does not require an additional energy production. The device is possible to connect to a PC. Using only this mechanism, you will not get coins. The user needs special software and membership in a large Bitcoin pool.
- Low cost of the device;
- Low power consumption (respectively, petty bills for payment);
- Antminer S5 is easy to configure and suitable for newbies.
- The sound from the exploitation of the device is above average;
- There is only one cooling fan;
- Low hash rate.
Even in the case of a sharp jump in the cost of Bitcoin, you are unlikely to get positive results. Installation is only suitable for training.
The brand was first introduced in 2014. In those conditions, this device was cost-effective. But already in 2016, it was discontinued. The device has compact dimensions and a metal case. If someone likes rarity, he may find this miner on eBay for more than $ 100.
- The miner works with any power supplies;
- The device is one of the cheapest among analogs;
- It is possible to connect two low-power reserves;
- A working device emits little noise;
- Even a novice can easily configure a simple user interface.
- The device has a low hash rate compared to modern standards (accordingly, efficiency suffers);
- During operation, the case becomes very hot;
- SP20 connects only via Ethernet;
- The miner may only be operated at ambient temperatures under 35 ° C.
In general, the installation provides extremely low profitability in 2019. For a year you will not get even 1 USD.
Halong Mining announced during the announcement of DragonMint 16T in 2018 that about $ 30 million was spent on research and testing. These efforts did not become in vain, because today, this miner is the most powerful and profitable among competitors.
The hash rate was 16 thousand UD / s. The introduction of ASICBOOST technology (a fragment of the Bitcoin software code) has increased the efficiency by an additional 20%.
- Test launches have confirmed that the miner is developing the declared speed and is highly efficient;
- It is possible to work with a standard voltage of 220–240V;
- You will get the lowest possible energy consumption from all available options.
- You can buy both one device and several at a time. There are no restrictions on the volume of the party.
- The price is too high for an ordinary crypto enthusiast;
- To start, the user needs to additionally purchase a branded power supply unit (also not very cheap);
- Power consumption varies depending on the used power supply;
- The device may work at full strength only in conjunction with the original power supply.
The average projected income from the use of one installation is about 1.5 thousand USD.
Best Bitcoin Miners for 2019-2020
Given a great number of mining facilities, we understand how difficult it is to opt for any one installation. The buyer needs to focus primarily on high efficiency (and, of course, the price he can afford to pay for equipment). But consider the cost of paying for electricity. In most cases, you will lose half of your income or so to cover your bills.
In this review, we will look at the three most popular and cost-effective options.
The product release came at the beginning of 2019. It is the flagship model of Bitmain. The capacity is 62 thousand tons / s. At the same time, energy costs are very high and equal to 2790 watts. Two hardware settings are available to you:
You can earn more than 0.06 BTC per month. But, as expected, about half of the profits will be “eaten” by paying for electricity.
EBIT E12 +
The hash rate of this miner is slightly lower than the previous one and is
50TH / s. However, the required power for starting is lower (2500 W). This combination is very effective in today’s market. Having a profit of more than 0.05 BTC per month, you will spend 47% on paying bills.
Innosilicon Terminator T3
Of all three samples, this is the least powerful, but this does not mean that it is the least lucrative. The hash rate is at the right level and amounts to 43TH / s. The maximum power consumption does not exceed 2100 watts. You can earn more than 0.04 BTC per month. Subtract half for the payment of electricity.
What are Coin Mining Pools?
In the article, we mentioned Bitcoin pools several times. It is time to clarify what it is in more detail.
Beginners who are just trying to get coins would not be able to achieve at least some results due to intense competition. Therefore, they have only one way out – this is to combine their efforts. Such an association in the Bitcoin society is called pool.
Even the most modern potent facilities will not provide anyone with the same power as professional data centers, which include many special (expensive) pieces of equipment.
If the pool won the race for coins, all revenue is distributed among the participants in proportion to their contribution. The standard membership fee is 2%. Now several large pools control the situation. Due to a large number of participants, the revenue of each of them will not be as significant as we would like.
Is Bitcoin Mining Still Profitable?
For practical mining of Bitcoins, each member needs not only a specialized installation but also additional equipment:
- Individual power supplies allow more efficient use of electricity. If the old models of miners could be connected directly to the outlet, then the new top equipment will not even turn on without a particular power source.
- Cooling fans allow mining units to run smoothly. In the case of overheating, the machine switches off spontaneously.
- Standby generators are needed to secure the primary source of electricity.
People may get significant profit from mining Bitcoins if they have a modern ASIC installation and cheap electricity. The situation changes daily due to the floating rate of all cryptocurrencies.
Today on the market there are only a few advantageous offers among miners. If the price of Bitcoin rises, most likely, more and more new manufacturers will begin to develop and offer their versions of mining installations. And an increase in supply will entail a reduction in prices. Then more players will be able to join the Bitcoin network.
I am a crypto enthusiast. Bitcoin miner in 2013. AERGO Ambassador. I believe that blockchain technology is the future. My goal is to clarify the value of cryptocurrencies and blockchain in a free economy and security. I want to contribute to the implementation of these technologies in people’s lives through an explanation of the principles of its work.