Tech
How to Choose the Best Bitcoin Mining Hardware
Bitcoin is the world’s most popular cryptocurrency. More and more people every day are interested in how to earn it and get it. There are two most popular ways, namely trading and mining. If with the first one everything is very clear, then as for mining, there are a lot of nuances. First of all, the main thing, in this case, is to use only the right equipment. Therefore, you should find a mining hardware store, which has a high reputation and a wide range of choices. In addition, you need to know how to properly handle it, to know a lot of nuances and secrets. And, of course, to have information about what equipment is best for you.
In this article, we’ll cover both the concepts that many people already know, and pay attention to the various details. Every miner must know absolutely everything about this business. This will help him to get as much cryptocurrency as possible faster and more efficiently. Therefore, if you are new to the world of crypto or, on the contrary, want to understand how to choose equipment for yourself, let’s proceed.
ASIC Mining Hardware
In the past, when bitcoin was just gaining momentum, it could even be mined on a home CPU. Then GPUs began to be used for this purpose, which greatly accelerated mining, especially if you use multiple devices. Now, there is some special equipment for mining, which is much faster and more effective, and it is called ASIC.
An ASIC is an integrated circuit that is specialized to perform a particular task. Unlike general-purpose integrated circuits, specialized integrated circuits are used in a special device and perform strictly limited functions specific to that device. As a consequence, the functions can be performed faster. As we can understand, because ASICs were created specifically for mining, they are much faster than video cards or CPUs. There is an opinion that the current mining is so competitive, and the level of complexity is so high, that trying to do it without ASIC is unprofitable.
How to Choose the Best ASIC for Yourself?
When it comes to selecting the right mining equipment, there are several important factors to consider. First of all, it is necessary to understand for which cryptocurrency you are going to buy the equipment, in our case it is of course bitcoin. This is very important, because if you make a mistake at this stage, all further action will be useless. As soon as you decide what you need it for, it will narrow down your choice. You should consider ASIC mining equipment as an investment because it is very expensive. Next, you need to analyze the following factors such as hashing power, how much power they consume, the temperature at which they work, and of course the price. But if for some reason you are too lazy to do that or you don’t feel like it, we can advise you on a few items that have proved to be excellent solutions for mining bitcoin specifically.
They are very popular, so you have probably already seen them:
- Antminer S9
- Antminer S19 95T
- Antminer T19 84T
- Whatsminer M31S 80T
- Whatsminer M30S+ 100T
These are some of the most popular ASICs on the market. They have already proven themselves to be some of the best solutions, so you can focus on them.
Main Features to Choose From
As written above, we have identified the important characteristics for selecting ASICs and will be guided by them.
Hashrate
One of the primary characteristics that you should pay attention to is of course the hash rate. The higher the hash rate, the faster the equipment works. It affects how fast ASIC mining equipment can solve problems. It is usually expressed in Gh/s, Th/s, or Mh/s.
Electricity Consumption
Electricity bills can have a big impact on your profits. To reduce costs, you can switch to a cheaper form of energy or mine from another country where electricity is cheaper. But also be sure to pay attention to this indicator on your equipment.
Energy Efficiency
This figure can be calculated by dividing the power consumption over a certain period by the number of blocks the integrated circuit produces during that time. If you are comparing several devices, choose the one with the lower coefficient.
Price
The more bitcoins your ASIC miner can mine, the more expensive it will cost. Your budget must contain not only the amount you are willing to spend to buy the equipment but also money for maintenance. Those looking for the fastest ASIC mining equipment options should keep in mind that they will have to spend more money. This can include connectors, racks, and other costs such as replacement parts.
Conclusion
Mining bitcoin is a very difficult and painstaking business, but it pays off. If you take the right approach to the issue of choosing the equipment, you will already make a huge part of the work easier. So you have to understand this business as well as possible to avoid as many problems as you can. Here we have described to you general rules that will make your task much easier, but you should keep in mind individual cases.
Kenneth is a proud native of sydney, born and raised there. However, he pursued his education abroad and studied in Australia. Kenneth has worked as a journalist for almost a decade, making valuable contributions to prominent publications such as Yahoo News and The Verge. Currently, he serves as a journalist for The Hear Up, where he focuses on covering climate and science news. You can reach Kenneth at [email protected].
