The article is telling about:
- mining BTC as a an expensive business;
- out-of-date ASICs and computer chips;
- coins mined with old equipment;
- the best BTC miners for today;
- how to choose a modern miner.
Cryptocurrency mining is no longer one of the effective ways to get money “from the air” because the cryptocoin mining hardware itself requires serious investments. We can say for sure that mining BTC is an expensive business. Of course, there are also enthusiasts who use graphics cards and processors but they do it in those cases where such a method is still permissible. As for the bitcoin, not only computer chips but not all ASIC models are suitable for its mining. Users, who now, in 2018 still want to integrate their efforts into the process and take a part of the world hash, must invest in the acquisition of modern and far from being cheap cryptocurrency mining hardware.
Scrap metal, a museum exhibit or a full-fledged miner?
Digital technology ages very quickly, while it’s about the moral aging of devices. Computers and laptops, which a year ago belonged to the “wow” category, are now being sold because more powerful, productive and modern analogs appeared. Graphics chips, processors and even such a revolutionary novelty as ASIC become irrelevant very quickly as well. The BTC net requirements grow, its difficulty increases, the number of miners is off the charts. Can a GPU or cryptocurrency mining rigs based on processors give out at least a grain of the virtual gold that was so easily mined in the old days? No, they aren’t able anymore!
How manufactures setbacks our plans
Often all ideas to start mining on powerful equipment are ruined down by the equipment manufacturers. Delivery of an ASIC from China or another country, where the facility is produced, can last several months. Such cases occur rather often, so if you are going to acquire an item that meets today’s standards, not the fact that at the time of delivery it can become a museum exhibit. Timely delivery is a very important success factor. Moreover, ASIC is not a universal thing, unlike GPU or CPU. Such devices are designed to fulfill a certain function; therefore it will not be possible to use the circuit for other purposes, for example, as a computer or something like that.
Coins mined with old equipment
In fact, everything is not so bad. Owners of the outdated cryptocurrency mining hardware can find application to it, namely, to mine other types of cryptocurrency. Algorithm SHA-256 belongs to all bitcoin forks, so if you have an Antminer of the first generation or The Monarch ASIC from Butterfly Labs, you can try your opportunities in mining a less popular, but more affordable coin. These can be Terracoin, Namecoin, Betacoin and many others. If you have a powerful graphics chip or GPU, and maybe even several such devices, then you can start mining LTC, DOGE or any other coins based on different algorithms. The algorithm for this mining method does not matter.
What is the best bitcoin mining hardware?
What equipment is considered to be the most advanced for BTC mining at the moment? The best and the most powerful devices provide the highest hash rate. Consequently the ability to process large amounts of information grows. It is the main condition for getting a block. Just compare a home computer with an up-to-date device which is able to process several terahashes per second! But on the other hand, one ASIC in the field is not a warrior.
That is why major players in the area use cryptocurrency mining rigs that consist of numerous ASICs. You have to buy and set up hundreds of them. Moreover you must find a suitable warehouse with reliable sound and thermal insulation. And, of course, you must pay for energy used. Electricity bills will be overwhelming if you do not take care of a cheap power source nearby.
Only big companies and rich businessmen can afford to invest millions in mining and get profit on an industrial level. If you are not one of them and expect to buy a couple of powerful ASICs, then you’ll have to forget about solo mining. Registration on the pool will allow you to receive, if not fabulous, then sufficient profit to pay back your equipment.
As for the models of devices that are claiming to be the most efficient bitcoin miner 2018, let’s take a look at the following items:
- The Antminer S7 has hashrate 4.73 TH / s, power consumption of 1293 watts
- Antminer S5 – has a hashrate: 1155 TH / s with an energy consumption of 590 watts.
- Productivity of the Terra Miner is about 2 TH and electricity consumption is 2 kV / h.
- Antminer S9 – this model has enough power to 13.5 TH / s. It operates at a temperature from +25 ° C to 40 ° C. That is impressive for today.
In devices descriptions, such designations as W / Gh and W / Th are often used. They mean how much electricity is consumed by ASIC for processing gigahash and terahashes of upcoming data respectively.
As before, high hashrate for fast bitcoin blocks assembling and the power capacity is in priority. The first feature is important for effective mining; the second one will let you know if your electricity grid is suitable for this model. There are online calculators that allow you to find the ASIC model by the given parameters. The service will also tell you about the potential profit will be provided by the device.
Surely new equipment will appear on the market, and it is quite possible it will be something revolutionary new. At the moment, the most efficient bitcoin miner 2018 is the device that provides the biggest hashrate. The highest features mean the highest price as well. The new equipment must be involved in the mining process as quickly as possible, so order devices from trusted and reliable suppliers.