If you ask a question how profitable is bitcoin mining in 2018, we have answers for you.
Prospects for mining in 2018 cause a lot of discussion. Some are confident in the low profitability of earnings and the senselessness of spending, while others argue that Bitcoin has not exhausted the possibilities and can still please the miners with a high level of income. As a result, the difficulty of mining and the requirements for equipment is growing.
Table of content
- Options for Bitcoin mining equipment
- Tips for building Bitcoin farm in 2018
- Creating Bitcoin mining farm in 2018
- How to mine Bitcoin on ASIC
- The forecast of mining for 2018
Options for Bitcoin mining equipment
Mining of cryptocurrency is possible with the help of the following equipment:
- On hard drives. This method has lost relevance because of increasing difficulty of mining. However among still popular models, it is worth mentioning the hard drives from the manufacturer Toshiba (DT01ACA, P300 HDWD130UZSVA), Archive HDD ST8000AS0002 and others. Privilege of this method is in saving money for the purchase of expensive equipment, the absence of problems with the preparation of the farm, ease of adjustment and availability for beginners. Disadvantages are complication of choosing a quality hard drive, limited life and low profitability. This method is relevant for manufacture of new cryptocurrency, but for Bitcoin mining in 2018 it will not work well.
- Video cards. Mining on the GPU is gradually losing relevance because the increasing complication of Bitcoin mining and increased costs for the purchase of machinery. For the extraction of coins you have to buy at least a minimum complex for the amount of 2-3 thousand dollars. In addition, monthly electricity costs reach 100-120 dollars. As a result, the funds spent are difficult to recoup.
- ASIC equipment. The increase in the difficulty of the network prompted the company to create new devices capable of carrying out more calculations with minimal electricity consumption. We think that this method is one of the best. However, a disadvantage of ASIC-chips in high cost, so many miners refuse to buy them. For example, the model ANTMINER S9 with a speed of 13.5 TGHz per second and efficiency. 0.098 W / Gh will cost 4,900 dollars.
Tips for building Bitcoin farm in 2018
Many people are interested in how to profit with bitcoin in 2018. To start, the farm is assembled, after which the network member selects the pool and proceeds to mining. A sufficient difficulty is to search for “hardware”, which is necessary for cryptocurrency mining. To work, you need a processor, a video card (6-10 boards are used), a power supply, a motherboard, fans (cooling system), and a hard disk. Also, additional equipment is needed - extension Riser, with which a group of video cards are connected to the farm. If you have the financial resources, it is better to buy a complete ASIC farm (see below for options) immediately.
We will allocate the minimum set of “hardware” for coin extraction in 2018.
A preference is given to processors with high power. Let's highlight several options:
- Intel Core i7 7700K with a frequency of 4.2 GHz on four cores. The power of TDP is 91 W, the cost is 360 dollars.
- Intel Pentium G3260, frequency is 3.3 GHz, four cores. Power TDP is 53 Watts. The price is 80 dollars.
- AMD FX 8350 with a clock speed of 4 GHz and a TDP power of 125 watts. The cost is $ 130.
Video cards for mining in 2018
Despite a wide choice of options, there is not so much decent equipment, which is suitable for mining. Let's select the following options:
- Radeon RX 580 is a video card with a core frequency of 1340 MHz, memory type GDDR5 (8 GB) and a frequency of 8000 MHz. The cost is 450-500 dollars.
- GIGABYTE GeForce GTX 1080 Ti is a card with a frequency of 1632 MHz, a type of memory GDDR5X (11 GB) and a frequency of 11448 MHz. The cost is 1075 dollars.
- Sapphire Radeon RX 580 is a video card with a processor frequency of 1411 MHz, memory type GDDR5 (4 GB) and memory frequency 7000 MHz. The cost is 400 dollars.
Considering the best video cards for mining in 2018, it's worth mentioning also GTX 1050 TI, AMD Radeon RX (480 or VEG 64), and others.
In the process of preparing the farm, no less attention is paid to hard disks:
- SanDisk Ultra II with a capacity of 960 GB - the price is 308 dollars.
- Apacer AS340 Panther with a capacity of 240 GB and a price of 95 dollars.
- Samsung 850 EVO with the volume of 250 GB and the price of 120 dollars.
Above we reviewed the best processors, hard drives and cards for mining in 2018. But to collect a farm it is also worth buying:
- The body. Wood or aluminum is used for making the base. When installing, it is important to ensure that there is a distance between the equipment to avoid overheating. As for the price, the wooden construction costs 20-25 dollars, and the metal construction costs 50-60 dollars.
- Operative memory (from four gigabytes and more). When installing from six graphics cards, you need 8GB of memory. So it is possible to avoid delays in the production of virtual coins at high loads.
- The motherboard. In the process of buying it is important to pay attention to the number of connectors for connecting the GPU. Optimal solutions are GIGABYTE GA-Z270-Gaming K3, MSI B250M PRO-VD 1151 or B250 GAMING M3. The cost of equipment is in the range of 100-150 dollars.
- Feeding unit. When choosing it is worth taking into account the power of video cards, motherboard and other equipment. It is important to make a purchase with a margin for this parameter by 15-20%.
- Riser. Option are adapters x1-x16 PCI-E USB 3.0, through which it is possible to connect to the “motherboard” as many video cards for mining in 2018, as required.
Additional equipment includes the purchase of cables and controllers.
Creating Bitcoin mining farm in 2018
Algorithm to create a mining farm:
- Search and buy an equipment.
- Manufacture or purchase a basis for installation.
- Commutation of PC installation.
- Select the pool and connect to it.
- Start your mining.
The urgency of mining in 2018 should be determined taking into account the costs of “hardware” purchase. The collected farm of an average level will pour out in the amount of about 1,5-2 thousand dollars. Such a farm is better used for mining Zcash or Ethereum.
Also worth mentioning are ready-made farms that can be bought, immediately installed and start mining. For example, the device for 6 video cards NVIDIA GEFORCE GTX 1060 6GB costs about $ 3,000, but its return in 2018 with the increase of the total number of miners and difficulty of cryptocurrency mining falls every day.
How to mine Bitcoin on ASIC?
For Bitcoin mining, rental of cloud services facilities or buy of equipment on ASIC chips is more suitable. With its help, you can quickly pay off and get a net profit. When choosing the equipment, attention is paid to the speed of production and the consumption of electricity.
The most popular option is Asic Bitmain Antminer S9. Its work is based on the SHA-256 algorithm. The product consumes 1.3 kW, its dimensions are 35x13.5x15.8 cm, and weight - 5.5 kg. Speed - 13,5 TN/s. Cost of equipment is 4,9 thousand dollars. Monthly earnings, in accordance with the latest information, in 2018 will be 0.285 BTC per month and 3.36 BTC (Bitcoin) per year. The payback will directly depend on cryptocurrency rate.
The forecast of mining for 2018
Bitcoin production on hard disks and video cards has lost relevance. The first role comes to ASIC-equipment and cloud mining, with which you still can mine Bitcoin. The forecast of mining in 2018 is more favorable for new coins, the mining of which does not require large capacities, and the complication has not reached peak values.
When choosing the “hardware” it is important to consider the following recommendations:
- Take an equipment with a power reserve, because with a different approach in 6-8 months, it risks to become rubbish.
- When purchasing video cards for mining in 2018, use the tables, where the parameters of the models are specified (first of all, hashrate and power consumption).
- Look for pools where favorable conditions for mining are offered.
So how profitable is bitcoin mining in 2018? We would say not much if you do not use a smart approach mentioned above. So you need to be carefull. Sometimes it's easier to get new coins, and then exchange them for Bitcoin, than spend money on expensive equipment and hope for a quick payback.