7 of the Best Bitcoin Mining Hardware of 2018
Cryptocurrency is arguably the best gift the 21st century has to offer. It started off a little shaky, but with time, it has grown more and more stable.
For the sake of your future, financial future, it is wise that you start thinking of accumulating Bitcoins. For this, you will first need to understand how they work, how to transact in Bitcoins and above all, how to mine it.
The theory and process of Bitcoin mining can be complicated. However, great minds have developed technology that only requires you to understand the basics of Bitcoin and runs all the complex processes in the background. Part of this new technology includes Bitcoin mining hardware. It is only through the best asic miners that Bitcoins is added to your wallet unless you buy bitcoins.
Different Bitcoin mining hardware features different performance levels. And with the ever-increasing complexity of the Bitcoin mining calculations, you will need to have the best asic miner. In this piece, we review some of the best Bitcoin mining hardware and shed light on some of the factors to consider in your search of the best mining hardware. 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. 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. Even though it was designed to mine the Bitcoin, there were other SHA coins that could be mined with it.
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:.
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.
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 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. You will want to invest in an ASIC miner if you are planning to build a premium bitcoin mining hardware. This miner uses quite a lot of power and this is why you will need a power source that supplies more than watts.
You can go with either of the two choices, depending upon the type of power that you are choosing:. There are just three simple steps that you have to follow in order to get started. These are as follows:. 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:. 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. 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. 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 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.
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. Once you have an idea of the factors to look for as mentioned above, the hunt for the best hardware for bitcoin mining begins. To make it easy for you, we have already complied a list of the best miners.
The 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. With the low power needs and consumption, small power supply, similar to those running desktop computers can accommodate the Antminer S5. Which translates to 0. As for the weight, the S5 weighs 2. 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. See the current price. The Bitmain Antminer S7 was introduced to the market in 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 watt APW3. This power supply unit is by far one of the best available in the market. It is precisely designed for Bitcoin mining. The miner can run even the most potent mining hardware — the Antminer S9.
Get your cryptocurrency fast and easy
Even if id keep up with the latest in the realm of technology only sporadically, chances are that you've heard of Bitcoin. The world's first cryptocurrency, Bitcoin has taken the world by storm. With a very high exchange rate, it seems that the decentralized digital currency is here to stay. So how do you get Bitcoin? You can either purchase Bitcoin, or you can "mine". The mining process involves using dedicated hardware e. If you've decided to get into cryptocurrency mining, here are some of the best Bitcoin mining software that you can get started .
What is an ASIC Bitcoin Miner?
At first, miners used their central processing unit CPU to mine, but soon this wasn't fast enough and it bogged down the system resources of the host computer. Miners quickly moved on to using the graphical processing unit GPU in computer graphics cards because they were able to hash data 50 to times faster and consumed much less power per unit of work. During the winter of , a new industry sprang up with custom equipment that pushed the performance standards even higher. The first wave of these specialty bitcoin mining devices were easy to use Bitcoin miners were based on field-programmable gate array FPGA processors and attached to computers using a convenient USB connection. Application-specific integrated circuit ASIC miners have taken over completely. Several reputable companies have established themselves with excellent products. Currently, based on 1 price per hash and 2 electrical efficiency the best Bitcoin miner options are:. For a comprehensive comparison of bitcoin mining hardware. Best Bitcoin Mining Hardware Two major factors go into determining the best bitcoin mining hardware: 1 cost and 2 electricity efficiency.
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Bitcoin Mining Hardware Comparison
Where once mining Bitcoin was something that you could conduct at home, with your consumer PC or maybe even a decently powerful graphics card GPUtoday Bitcoin mining is an industry unto. It needs cheap electricity, good airflow for cooling, and most importantly, powerful hardware. Where many altcoins are today mined using powerful GPU mining rigs — forcing up graphics card prices for gamers — Bitcoin mining is so competitive and difficult, that you need specific hardware for the job.
Although many of them use the same chips designed to do the job fast and efficiently, the power they draw and their cooling solutions can differ a lot. Getting rich quick with Bitcoin has largely passed, even for those willing to invest a lot, but with cheap electricity and the right hardware, you can at least get off on the right foot. The hands-down best Bitcoin mining rig in the world is the Bitmain Antminer S9. Although it has a sequel waiting somewhere in the wings, for now it offers the best performance per watt of any Bitcoin mining rig out.
Bitmain has been at the forefront of ASIC miner development for some time now and the Antminer S9 is the most powerful piece of kit it has ever produced. Its hash power measures up at TH per second, which is nearly three times that of its predecessor, the S7. It also only draws 1, watts of power, which is significantly less than some of the competitor ASIC miners out there, making it much more efficient than them.
Although there are some miners which claim to have a higher hash rate, or better power efficiency, nothing comes close to the Antminer S9 when it comes to the mix of the two. The only real downside with the Antminer S9 though, is getting hold of one at a reasonable price. Current stock on the Bitmain website is entirely sold out and buying from third-party resellers can see enormous inflation over the standard price. Although less powerful and less efficient than the Antminer S9, the T9 is also a popular choice among miners because it is considered the more reliable of the two.
By the numbers, most T9s are available at around the As with the S9, getting a hold of a T9 is difficult. Although less efficient and substantially less powerful than its newer counterparts, one alternative for Bitcoin miners with shallower pockets is the Antminer S7.
With a hash rate around 4. That said, due to the reduced efficiency of this device, you will need very cheap electricity to avoid running at a loss. Canaan is a Chinese company that produces reasonably powerful and efficient mining rigs itself, but getting hold of one is rather difficult.
Where their efficiency and power can rival the Antminer S9, their scarcity makes them hard to recommend. Instead, you are likely better off opting to buy an Avalonwhich is easier to find, though far from as powerful or efficient. The chips that Pagolin Miner uses in its design are much larger than their contemporaries. The M3X requires anywhere between 1, watts and 2, watts of power, making it the most power hungry ASIC miner on this list.
However, with a hash rate of between 12 and Although cheap electricity is even more important with a device like the M3X due to its poor efficiency, the lower up-front cost means that you could, what is the best bitcoin miner to buy theory, get a faster return on your investment under the right circumstances.
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Should You REALLY Buy A $100 Bitcoin Miner In 2019?
They aren't cheap to buy or run, but these are the best Bitcoin miners
Create apps and custom integrations for businesses using HubSpot. For the sake of your future, financial future, it is wise that you thhe thinking of accumulating Bitcoins. The GUI displays temperatures and hashrate for each individual chip, plus other vital info. You can add, switch and manage pools for multiple miners in a single operation. The V9 works great. To learn more about colocation mining check out our in-depth blog post. S7 connectivity is via Ethernet whaf. Spondoolies crammed a total of eight 28nm RockerBox ASIC mining chips onto 2 circuit boards within a compact form factor. The role of Bitcoin mining is to verify that transactions on the network follow the rules. An open-source project, MultiMiner is compatible with many mining devices. Rewards are only paid out if a miner earns at. See the current Price. This allows miners to mine Bitcoin without the additional difficulties of managing electricity, storage, security, and maintenance. Cooling Fans — Bitcoin hardware can easily overheat and stop working. However, if you need the best mining hardware to make your mining venture profitable, then above are some of the best asic miners you should consider. Canaan Creative. It should, however, be pointed out that it is slightly on the higher price range.