Review of the Best ASICs on the market
Cryptocurrencies have without doubt revolutionized the finance sector. Today more and more people are finding reasons to join the crypto community. One of the best benefits brought by this technology is the investment opportunities through mining. This article is focused on making you a profitable bitcoin miner. We shall be looking at some of the best ASIC mining hardware on the market because you need the best to become the best. Let’s start with the basics.
What is cryptocurrency mining?
Cryptocurrency mining is the way through which cryptocurrencies created. It is simple to tell how normal money is created. This is not so for cryptocurrencies however. The mining process can just be likened to how gold is mined. Only that, cryptos doesn’t come from the soil but through solving complex computer problems.
Mining is the main way through which one can earn with bitcoin and any other altcoin. Once you solve a block, it is verified and added to the blockchain, you get paid for that transaction.
When bitcoin started, it was quite easy to mine. In fact many people went into mining solo and they made great fortunes. It was the best investment opportunity at that time. Today, this may not be so much true. So many miners have joined the community and increased competition; as a result the level of earning has reduced significantly. The more people join the lesser that benefits.
Why do you need the best mining hardware?
If was easier at the beginning to work in your house with your computer and mine as many bitcoin as you like. Today that is not possible. CPUs cannot longer handle the pressure and the high speed required for successful mining. GPUs came in to try and boost the performance of the CPUs. They are faster and more efficient. However, they still consume a lot of power may not be the best option on the market after all.
The level of difficulty for mining bitcoin has increased exponentially. Whereas is better and more profitable to mine bitcoin solo. It is totally impractical today. The best option is to pool your resources with other miners and help each other tackle a block. That way you have better chances of succeeding, and then you can share the rewards. It is better that way because it may take you a lifetime to mine a single bitcoin on your own.
Another consideration for success is the type of hardware you are using. There are three characteristics you should look out for here. These include the graphics card, the motherboard and the power consumption.
Apart from these, efficiency should be among the things to look out for. Do not just take hardware because of its low prices but because of the services you expect. You need to calculate your profitability and ensure that the amount you put into buying the hardware and what you spend on buying your gear will actually be returned within the shortest time possible.
This is where you being in the ASICs. In this article we look at ASICS and review some of the best ASICs on the market today.
What is ASIC?
Application Specific integrated Circuits are mining hardware on a whole new level. You see, however experienced a miner you are, if you don’t have a high hash rate power, even amateurs will beat you. ASICs are simply perfect for the mining process. They work as the highest speeds while consuming lesser power that FPGA and GPUs. They a have received a lot of positive review on their efficiency.
Cryptocurrency mining is an investment. There is a lot you will put in the mining rig and there is a lot to pay for your power consumption. GPU and CPU mining rigs are general purpose hardware. Meaning they are designed to perform many tasks at once. The GPU is designed mostly for gamers because they hold more space and are faster. For this reason, when used for mining, they give the same overall performance as with the rest of the functions.
ASICs on the other hand are created for one thing and one thing only, to mine cryptos. They are like solders that have a command to stay in one duty station. Because of these specific functions, they focus on doing what they do best. Anyone who wishes to go anywhere with mining in the modern environment will need ASICs. If you are mining Bitcoin and Litecoin, there is no other way to do it; you will just have to get the hardware.
In cryptocurrency mining, it is only important that you earn more that you spend. It will now make any sense if you are paying too much for electricity and you gadgets yet the output is not as good.
Best ASICs hardware reviews
If you are going to buy a mining hardware, do not put your mind on the price of the gadget. Instead focus on how soon you are likely to get back your investments. What determines this is the hashpower of the device you have chosen. The hash power is calculated by the number of bitcoin it can generated daily, minus the cost of power, minus what you pay as pool fee and the current level of difficulty for mining.
It is not as easy as it may sound to make a decision on the mining hardware. There are a lot of things to go through. We have made your work easier through this article as you can then narrow down to just a few. Even so, you will still need to use the profitability calculator.
1. Antminer S9
- It is from a reputable manufacturer
- It is very efficient when it comes to energy
- It is very difficult to order and maybe too expensive for many
Bitmain is the largest manufacturer of mining equipments especially the ASICs and has been operating since 2013. Among the very popular ASICs, the Antminer S9 stands on the top list. Its energy efficiency is remarkable, though it may depend on your local electricity rates. Often, others miners are benchmarked against the S9.
However, with great efficiency comes a great cost. This is not such a cheap gadget that you can just pick for any store. Even so, it has been on the highest demand recording some of the highest sales among all other types. This unit is found online on the Bitmain’s website as well as Amazon and other auction sites. Be aware that, these high prices may not cover the manufacturer’s warranty for you.
One other important think to know about this device is that there is always an improved version. Bitmain has been regularly improving on the specifications of the units. This means if you are going to buy second hand, check the exact hash power first. There could be a slight difference from never models.
This miner can get you to best level of mining and the fact that most people are buying it should be worrying. In most cases, if many people are buying a particular gadget, especially mining gear, that should get you worried. There are those who wouldn’t mind spending anything as long as they profit more. In this case weigh your priorities and use the profitability calculator before buying this item.
2. Antminer S7
This is a potential great investment. But still, you should be careful because nothing is certain.
- Less costly compared to the S9
- It can provide faster ROI
- It is only available as a second hand item
This item is the predecessor of the S9 and it is from the same manufacturer’s Bitmain. The S9 has infiltrated the market with energy as many miners have abandoned the S7 to upgrade to the latter. This leaves S7s flooding the market, which explains the cheaper prices. There is a possibility however that you may see faster returns on this item than when you use the S9. This is because of the lower costs and that is also comes with PSU- pre-handled, even though its hash power is only about 1/3 of the S9 version.
There are no new manufactured items of this version. So, when buying, be very careful to check out how long it has been in use. As much as they are good, they depreciate in value and functionality. Look out for the seller’s return policy in case of a defect. Check the quality of the PSU unit if it comes with one, this will ensure high energy efficiency for you.
Note that, even with the best and high-end PSU, the S7 will not be as good as the S9. Averagely, it consumes power at the rate of 0.25joules per Gigahash. If you want to make more using this gadget, you can buy more than one, and use alternative energy sources. Renewable energy such as solar energy could be a better way to increase your earning.
3. AvalonMiner 761
This item has received many positive remarks from users and it is friendly to the pocket.
- The upfront cost is relatively lower compared to the Antminer
- It comes from a reputable manufacturer.
- There is very minimal online support
The China-based firm Canaan Creative is amongst the very first firm that came with the bitcoin specific ASIC chips. Avalon is an offshoot of this company, which means you can be confident when buying it. The S7 is the successor of the S6 series of which both have been found quite remarkable among many users. Many miners have praised the innovation behind the A3212 16nm chips used in these units. Many users also enjoy how silent the gadgets run.
AvalonMiner 761 can supports up to six devices with the cluster mining capability via AUC3. Though it means more costs for the rig, but it’s better because you can connect to others to make larger clusters. E.g. you can connect 4 AUC3 devices, each to five Avalons, hence you will be managing 20 AvalonMiner 761 units with incredible hash power of 176TH/s.
Apart from the above, you may also be compelled to buy a separate PSU. However, if you compare all the purchases you make, they will still not be close to purchasing a used S7 unit. You are likely to see faster and higher returns with the Avalon 761 because it is energy efficient as it is cheaper.
4. WhatsMiner M3
If you are looking for an alternative miner with greater warranty, this is the gadget.
- Warranty up to 180 days
- PSU included in the price
- Limited stock
This item was released towards the end of 2017 by a Chinese firm Pangolin Miner. The manufacturer offers an excellent video tutorial on the website together with detailed info.
You can be able to see the return of your investment almost the same time you purchase it. This is due to the low prices. However, its hash rate is slightly less that the Antminer S9. The device draws a lot of power. This is counteracted by the M3’s inbuilt fans that dissipate the heat to make it less noisy that S9. The bundled PSI unit increases the efficiency of the device.
At the time of this writing, the M3 is out of stock though there is a possibility the manufacturer making more towards the end of the year.
5. AvalonMiner 821
This is a great improvement from the AvalonMiner 721 though it has caveats.
- Greater hash power
- Energy efficient
- At the moment, you can only order in bulk
This item is a huge improvement compared to the previous version. It has 104 A3210 16nm chips. This gives the most impressive 20% better hashrate than the 761. The decision to choose this device would revolve around price consideration since the hashrate is slightly lower that Antminer S9.
As is the case with the predecessor, you will have to buy a separate PSU which may increase the cost a bit. You can connect up to 5 821s to Avalon’s AUC3 controller. This will increase your hash power to considerable amounts.
The decision to acquire a great mining hardware is the first step towards achieving your mining goal which is basically to make profit. The best hardware costs a little bit higher but the returns are great. On the other hand, you can get a cheaper gadget with lower hashrate and still make something substantial. The bottom line is, when it comes to cryptocurrency investment; do not spend what you are not willing to lose.