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.
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ASIC Miners: What the Heck is it?
A short term for Application Specific Integrated Circuit, ASIC is a circuit that is made for a specific use rather than being used in general. The miners who indulge in ASIC mining are more developed and sophisticated when they are compared to the traditional miners that use the CPU, GPU, and other components. 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. The ASIC chips can outperform a stack of GPUs any day. When pit against one another, the ASIC chips hash the transactions 100 times faster than a typical stack of GPUs.
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. The first miner that was released using an ASIC chip was made by Bitmain in May 2016 in China.
Even though it was designed to mine the Bitcoin, there were other SHA-256 coins that could be mined with it. It was proven quite vividly that the ASIC chips are better than the FPGAs, GPUs, and CPU combination when it comes to the speed of mining and the hash rate.
ASIC Miner: Common and Popular Brands
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:
- Bitmain: When it comes to the different Bitcoin mining tools, there is no name that is more resonant than Bitmain. This is the company that was responsible for the Antminer, and over the years, it has become the biggest supplier of all the mining tools that are used by the people around the world. Even though the company mass produces the ASIC miners now, the price has not seen quite an affordable purchase. A typical Bitcoin miner from Bitmain comes at a price of around $1,100.The one interesting thing about Bitmain miners is that they come with a three month warranty. Depending upon the model that you choose, the hash rate of the miner varies from 8 to 14 TH/s. Each model has its own efficiency and depending on that, the profitability of the ASIC miners also varies. There have been reports where users from some batches of the miners have claimed that the miners were quite unstable.
- Halong Mining: This one started out as a ASIC mining startup, there was no one who could say that Halong Mining equipment could become one of the best in the world. Once the startup was established, Halong Mining launched the Dragonmint T16 miner. This brought quite a lot of recognition to the company and people started to believe that this upcoming startup was going to be the best thing that ever happened to the ASIC mining community.The Halong miner started to compete with the pioneer Bitmain and they have gone head to head, competing for the top spot. Halong Mining has started an advertising campaign to highlight the benefits of the ASIC miner made by them. With the advertisements, the company has made endeavours to create a sense of trust with its customers and credibility.According to the company, millions of dollars went into the development of the Dragonmint T16. The first batch for the miner shipped in March 2020 and there have been no complaints ever since. Running between a voltage of 220V and 240V, the miner consumes 0.075 J/GH, and has a hash rate of around 16 TH/s.
- Canaan Creative: When it comes to the most stable bitcoin miners, there is no name that is as recognised as that of the Canaan Creative. Within the miner, there is an Avalon controller that can attach up to 4 miners on a single network.While the cost of the miner is quite premium, coming in at around $700, there are users who have claimed that the mining of the Canaan Creative miner is not as efficient as that of the Bitmain miner. If the reports and comments are to be believed, the average hash rate of the miner by Canaan Creative comes in at around 7.3 TH/s.
- Baikal: Baikal is a name that is known to all, for their work that it is doing in research and development of technology and the microchips since 2008. This was the company that created the SHA-256 algorithm chips back in 2013. They gained quite a lot of experience from the development of the aforementioned chips and they implemented the said experience in the future technologies that they began to develop.There are four product lines from Baikal which are offering quite a lot of products related to technology. These are Giant B, N, x10, and plus. There are other products from the company as well which help in the mining process. These include mining tutorials, customer service, and support after the sales of the products, among a long line of services.
- Ebang: Combining efficiency with stability, Ebang brings you the ASIC mining chips at a price between $700 and $1,100, depending upon the model that you go for. The mining chips made by Ebang make use of the 14 nm technology and this helps the chips to push out a hash rate from 6.3 to 9 TH/s.
- GekkoScience: There was a small mining firm in the United States of America that dreamt of making it big. They did so with the company now known as GekkoScience. The company now manufactures USB micro miners having incorporated the existing ASIC chips into their own designs. However, the end results are not always profitable, as is seen by the GekkoScience 2 PAC.
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.
ASIC Miners: How do they Work?
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 typical parts of an ASIC miner are the software for mining, the ASIC chip, a power source, and the fans to keep the system cool. 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.
On a typical USB miner costing around $30, you will get an average hash rate of 330 MH/s. The return of investment by using this type of miner is usually around 1% per month. You will want to invest in an ASIC miner if you are planning to build a premium bitcoin mining hardware.
If you are in the market looking for the best ASIC miner, you will want to go with the Antminer S9, coming with a hash rate of 14 TH/s. This miner uses quite a lot of power and this is why you will need a power source that supplies more than 1275 watts. You can go with either of the two choices, depending upon the type of power that you are choosing:
- 110V PSUs like the Gold Rated 1000 watt PSU, or
- 650 watt Power the ASIC Miner
There are just three simple steps that you have to follow in order to get started. These are as follows:
- Using the PCIe cables, connect the PSU with the Antminer S9. This will automatically connect the miner to the Ethernet cable.
- After this, you will have to turn on the PSU, ensuring that the miner has started working.
- The last step is to connect your PC to the same network as the miner and you are done.
ASIC Miners: Getting Started
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:
- An ASIC miner,
- A software that is going to be compatible with the miner, such as BFGMiner or CGMiner,
- A bitcoin mining calculator that will help you determine the number of altcoins that have been mined. This figure will be in cahoots with the power of the ASIC mining gadgets that you have.
- You can also use an additional fan for a better cooling of the components.
- A Bitcoin wallet. This will be the wallet where you will be storing the all the coins that have been mined by your setup.
- You can also use a slush pool as a pool mining account.
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.
- The first thing that you have to do is to connect your ASIC miner gadget to your PC.
- After that, you can use the bitcoin mining calculator to calculate the proceeds in the form of the bitcoin results.
- If you do not have a pool mining account, sign up for a slush pool account. You will need to connect the ASIC miner to the pool mining account.
- The next step is to set up the configuration of the pool mining account. Usually, this step requires the address of the server port and the pool.
- After this, you will need to boot up your bitcoin mining software, such as the CGMiner or the BFGMiner.
- The software will then ask you to enter your address pool, port, username and password.
- Start the mining process and mine the bitcoin accordingly.
How to Choose the Best Mining Hardware
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. The very first mining hardware featured a hash rate of between 336 MH/s and 14,000,000 MH/s.
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 make this calculation, divide the hash rate by the hardware’s watt consumption.
For instance, if you have a hardware hash rate of 4500 MH/s and it requires about 32 watts of energy, then expect the mining hardware to provide you with approximately 140,625 MH/s for every watt of electricity. 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. This will help you determine the best bitcoin miner hardware and start mining bitcons yourself.
Our Top 7 Best ASIC Miners 2021
1. Bitmain Antminer S5
The Bitmain Antminer S5 features a power supply labeled 115 Volts, and that draws about 560 Watts. With the low power needs and consumption, small power supply, similar to those running desktop computers can accommodate the Antminer S5.
With regards to efficiency, the unit produces about 1 GH/s for every 0.51 watts consumed. Which translates to 0.51 J/GH. Compared to its predecessor, the S3, the S5’s efficiency has improved. All these integrated features makes it the most powerful bitcoin miner in the current market.
As for the weight, the S5 weighs 2.5kgs. 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.
2. Bitmain Antminer S7
The Bitmain Antminer S7 was introduced to the market in 2015. 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 1600 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. It, however, requires a minimum of 205 Volts to operate. The optimal power consumption makes it the most efficient bitcoin miner.
The efficiency of the S7 depends on the effectiveness of the power supply used and the ambient temperature. But, at room temperature of about 25 degrees Celsius, the S7 produces about 1300 watts. At this point, you should note that every generation of the Antminer is near twice as efficient when compared to its predecessor.
It weighs 7.5 pounds and features a durable metal casing with a groove and tongue system incorporated into it. Since the unit is noisy, it is not ideal to have it inside a home. Additionally, it is imperative to ensure you put it in a cool environment to ensure that you spend less energy trying to cool it as it mines.
3. Bitmain Antminer S9
The Bitmain Antminer S9 is currently the best Bitcoin mining hardware available on the market. It features the highest hash rate of about 14 TH/sec and is by far the most efficient mining hardware available.
This high hash rate has been made possible courtesy of 3 circuit boards featuring a total of 189 chips. For all that the S9 has to offer, you should expect to pay a pretty penny for it.
The Antminer S9 can be used with the Antminer 1600 Watt power supply efficiently. Speaking of efficiency, the S9 is notably the most efficient mining hardware available. And while it consumes 300 watts more compared to the S7, it is twice as efficient with about 0.1 Joules per Gigahash.
The unit has a sturdy design and weighs 10.4 pounds. The sturdy design comes in handy when a miner needs to arrange the multiple miners on one shelf. Using the S9, you best have it in a garage or a warehouse. The noise produced is unbearable for a home.
4. Antminer T9
T9 is yet another excellent best bitcoin miner 2020 on the list. It should, however, be pointed out that it is slightly on the higher price range. With regards to comparing the T9 to the S9, miners are split on which is better. Below is a brief review of the T9 that will allow choosing between the two an easy process.
The T9 consumes about 1450 watts for approximately 11.5 TH/s for Batch 23. It has an efficiency of 0.126 J/GH. Going with this numbers, the S9 is better than the T9. But before you make the decision, note that the quality chips in the S9 were of a slightly lower quality which leads to their reduced stability. The T9 Miner has this problem fixed.
The T9 also attended to the pre-auto-freq issue prevalent with the S9 miner.
5. AvalonMiner 741
If you are looking for an excellent bitcoin miner at an affordable price, this is the one for you. This product is the latest addition to the industry by the company Canaan. It provides a good hash rate about 7.3 TH/s and features an air forming cooling system that enables 88 chips to function great as a single unit. Also, it helps to keep the miner running at all times.
The unit features an efficiency of 0.16 J/GH. This efficiency rating is way better compared to all other products in its price range.
7. Bitmain Antminer D3
Most miners are using this hardware to first mine dash coins which they later convert into Bitcoins and make huge profits in the process. The Antminer D3 provides a hash rate of 15 GH/s and uses up about 1200 Watts.
Overall, it measures 320x130x190mm which makes it possible to have a neat arrangement when running multiple miners simultaneously.
How ASIC Miner Have Changed the World of Cryptocurrency Mining
When the idea of the bitcoin and the bitcoin mining was still new, all you needed was a normal PC with the normal CPU and GPU to start the mining. However, when the idea became popularized, the traditional equipment could not get the desired hash rate. This is when the advancements began to be made. It was known beforehand that when the demand of the bitcoin will rise, there will be a need to develop better hardware to keep up with the demand.
When the traditional CPU proved itself to be ineffective, there was an addition of the GPUs to the system. This kept the hash rate up for a while. However, the exponential growth of the demand meant that there was a need for a better hardware to keep up with the market.
This is when the GPUs became more advanced and stacks of them began to be used to get a higher hash rate. However, the cost of electricity began to rocket through the skies and mining coins on stacks of GPUs stopped being feasible as well.
As and when the miners increase in number, there is going to be a drop in the hash rate if you are using the same equipment. This is when the need for a better technology arose and the ASIC chips came into existence.
As we know quite well by now, the ASIC chips are designed for the sole purpose of mining and they are quite efficient in comparison with the GPUs, producing a higher hash rate at a lower consumption of electricity. This specialized technology has done marvels and companies and individuals around the world have started their own mining farms after the ASIC chips came out.
Since this technology was developed for the sole purpose of mining and cannot be used anywhere else, the cost has to be born by the customers of mining only. This is why some of the best ASIC miners in the world can cost thousands of dollars every month.
There is quite a lot of heat produced when the ASIC miners are at work. This is one of the sole reasons why many companies in the world are having a hard time looking for a suitable place to set up their mining farms. There is a huge requirement of space to accommodate all the equipment and the electricity has to be cheap too. A lot of the space is taken up by the fans that are used to cool down the equipment.
On the other hand, there are some companies which do not have any trouble with this arrangement and they have set up huge mining farms. This has led to the mining of the bitcoin and validation of the blockchain to become more of a centralized process since most of the mining is being done by these few companies.
Can we Mine Without ASIC Miners? YES!
Even though everyone around the world is going to recommend that you invest in an ASIC miner, there are a few other ways in which you can mine the bitcoin and other altcoins. These include:
- Mining Pools: This is the process of collaborating with others in the pool and combining the computing power of all to create a block. The rewards of this block are then shared among all the members of the pool propotional to the computing power that they contributed.
- USB Miners: This is one of the simplest ways of mining; the only thing that you have to do is plug in the USB Miner to the PC. However, it is quite inefficient and is usually considered a waste of the time and money.
- CPU: This is going to be one of the simplest way of mining; the only requirement is the CPU with a strong processor. This was going to be fruitful a decade ago but now it is not going to bring about any result.
Choosing the Best ASIC Miner: What’s Your Choice?
Ultimately, the decision of whether or not to mine Bitcoin lies with you. 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. Ensure you consider the factors we have listed above before choosing the best asic miner.
Editor in chief for BitCongress.org , Rose is based in Washington, D.C and has more than a decade of experience in the field of finance and trading.