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 Bitcoin mining hardware 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 Bitcoin mining hardware.
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.
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.
Our Top 7 Best Bitcoin Mining Hardware 2018
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.
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.
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.
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 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.
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.
T9 is yet another excellent mining hardware 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.
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.
The L3+ sports four boards containing 288 chips. The number of chips is double that of its predecessor the L3 miner. The overall design allows for the unit to be arranged with ease when multiple miners are in use simultaneously.
While the L3+ is a easy mining hardware to use, it comes packing in power just like most of the mining hardware listed in this review. It has a hash rate of about 504 MH/s and uses up approximately 800 watts and sports an efficiency of 1.6 J/MH.
The power supply recommended to be used with this miner is the Antminer L3+ Power supply. This power supply unit can also be used with the S9.
This mining hardware was introduced into the market in 2017. When talking about Dash ASIC miners, you have to mention the Antminer D3 as it is among the best.
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.
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 mining hardware you should consider.