Do you want to venture into Bitcoin or other cryptocurrency mining and boost your digital assets? With a highly competitive landscape, it’s crucial to gear up with the most effective mining tools.
Luckily, we’ve done the heavy lifting by compiling a list of the most profitable Bitcoin and other crypto-mining hardware. Ready to dive in? Let’s get started.
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With the profitability of mining Bitcoin using standard PCs or laptops now out of reach, miners require specialized hardware known as ASICs.
Here’s a close-up view of an ASIC miner:
Bitcoin’s creator initially designed cryptocurrency to be mined using CPUs (like those on your laptop or desktop). However, as Bitcoin miners sought increased hashing power, they turned to graphic cards. Eventually, ASICs (Application Specific Integrated Circuits) outperformed these graphic cards.
Consider Bitcoin ASICs as dedicated devices for Bitcoin mining, akin to specialized Bitcoin mining computers or “Bitcoin generators.”
Today, significant Bitcoin mining operations rely on dedicated Bitcoin mining hardware ASICs, typically housed in thermally regulated data centers with access to inexpensive electricity.
When deciding on the best Bitcoin mining ASIC, consider these key factors:
This refers to the number of calculations that the hardware can perform per second. The higher the hash rate, the more it costs, making efficiency essential.
Aim to purchase the most efficient Bitcoin mining hardware available. Currently, the Halong Mining Dragonmint T1 tops the list. As mining consumes significant electricity, choosing a miner that optimally converts power into Bitcoins is beneficial.
The cost of the Bitcoin miner is another factor to consider. Less expensive hardware will yield fewer Bitcoins, which makes efficiency and power consumption important. The fastest and most efficient mining hardware will be pricier.
Don’t base your decision solely on price or hash rate. The optimal ASIC miner is the one that offers the best efficiency. Strive for value.
Now that you know the key criteria for purchasing a Bitcoin miner and the leading companies producing them, let’s look at some of the best Bitcoin mining machines and their features. Here’s a table comparing some of the top miners available in 2023:
Following the immense popularity of Bitmain’s AntMiner S7 since its launch in mid-2015, the company has introduced a new series called the AntMiner S19.
The AntMiner S19 is the latest and most advanced Bitcoin ASIC miner from Bitmain. It includes three models: the Antminer T19, Antminer S19, and Antminer S19 Pro.
The T19 model offers a hashrate of 84 TH/s, the S19 provides 95 TH/s, and the S19 Pro boasts an impressive hashing power of up to 110 TH/s. The prices range from $2,118 for the T19 to $3,769 for the S19 Pro.
The S19 Antminers require a power supply of 3250W, with a margin of ±5%. The power supply units (PSUs) are included with the miners, eliminating the need for separate hardware.
Under normal operating conditions at a room temperature of 25^C / 77^F, the S19 consumes an average of 3250 Watts. It’s worth noting that higher environmental temperatures will result in increased energy consumption by the fan(s) to cool the unit.
Setting up an S19 using the MinerLink GUI is a straightforward process that only requires your mining pool credentials to initiate mining. The units automatically start hashing upon powering up, which can be beneficial in the event of a power failure. S19 connectivity is exclusively via Ethernet.
The S19 series miners perform optimally within a temperature range of 5-40 degrees Celsius (40-105 Fahrenheit). Maintaining a cool and dry environment for these miners will extend their lifespan, making a dry basement an ideal location.
As of January 2022, the Bitmain website indicates that the S19j Pro 104TH/s is available on a spot order basis, while the S19 XP 140TH/s shows shipping availability starting in July 2022. Both models are listed between $11,000 and $12,000.
With the release of the latest Antminers, the Antminer S19XP, and L7 in 2022, as well as the ongoing upgrades by commercial miners, the price of the S19 series is expected to decline.
The mining difficulty on the Bitcoin network has steadily increased to nearly 0.5% daily. This, combined with halving the block reward in May 2020, has intensified competition among miners to validate blocks and maintain profitability.
Let’s examine the expected profitability of mining using an AntMiner S19, using the most accurate Bitcoin mining calculator that considers dynamic variables such as mining difficulty:
Assuming an average household Power Cost of 12c per kWh, a Pool Fee of 2.5% (as charged by AntPool), and a Block Reward of 6.25 BTC per mined block.
That all said, the S19 proves to be a highly profitable investment. It can recoup nearly the entire initial investment within a year if purchased at the full price from Bitmain. Furthermore, if you manage to obtain a hardware discount during purchase, it becomes even easier to generate profits from mining.
With a hashing power of 90 TH/s, the AvalonMiner 1246 stands on par with the AntMiner S19 and the WhatsMiner M30S. However, it carries a higher price tag, retailing at around $5,500, compared to the offerings from Bitmain and MicroBT.
The Canaan AvalonMiner 1246 can generate a profit if you have access to electricity priced around the median rate in the U.S., which is $0.12/kWh. It will take approximately two years of mining to recoup your initial investment.
The AvalonMiner 1246 consumes 3420W of power at the wall. In terms of energy efficiency, it marks a significant improvement of 37% compared to the AvalonMiner 1146, reducing the ratio from 52 J/TH to 38 J/TH.
Operating at a maximum noise level of 75 dB, it is noticeably quieter than the WhatsMiner M30S and the AntMiner S19.
The AvalonMiner 1246 operates optimally within a temperature range of -5 to 35 degrees Celsius (23-95 Fahrenheit). This range matches that of the WhatsMiner M30S and is wider than that of the AntMiner S19 series.
In terms of price-to-performance ratio, the WhatsMiner M30S++ offers the best value. It provides high hashing power at a comparatively lower cost than its competitors and is one of the most efficient miners presently available on the market.
However, if noise levels are of concern, you may opt for the Canaan AvalonMiner 1246 due to its quieter operation. Finally, the Antminer S19 series provides a good balance of price and performance, with models available at varying prices depending on your budget.
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