Recently, we have seen an increased interest in the topic of cryptocurrency mining. Many have seen the potential in the cryptocurrency market and noticed that you can make good money mining cryptocurrencies yourself rather than buying them on the exchange. Next we will talk about s9 asic miner profitability.
Mining cryptocurrency in today’s world requires a specialized integrated circuit, an ASIC or GPU, where a GPU mining rig is always connected to a data source. GPU mining is the second method used in cryptocurrency mining. This method uses the maximum processing power of the GPU, bringing them into one system. Nevertheless, uninterrupted data transfer and cooling systems are a necessity.
Why choose the ASIC method?
The advantages of this type of equipment are low power consumption, because ASIC can consume much less power than GPU or CPU, and the performance of H/W ASIC is unmatched. In addition, these units are characterized by very high hash rates for these coins, for example, in the case of Litecoin ASIC value exceeds other opportunities in mining this currency. In addition, the physical size also matters, as ASICs tend to be smaller and lighter compared to GPUs of similar performance. In terms of financial benefits, the higher rate of return for ASIC devices should be considered.
What does ASIC-miner mean?
Since you can’t produce bitcoins from home with a simple PC, over time a new family of dedicated BTC mining equipment has been developed called “ASIC mining machines” (Specialized Integrated Circuits), also called “bitcoin generators”.
Initially, when Bitcoin was born, the inventor Satoshi suggested using the CPUs of his computers to mine BTCs. After the first years of testing, the miners themselves began to use their computers’ video cards because they provided more processing power than the CPU. Finally, as the third and final stage (for now) hardware ASICs were born.
The big innovation of this type of hardware is to produce a lot of processing power with low power consumption.
Be careful not to confuse “bitcoin hardware” with “bitcoin hardware wallet”; the former produces BTC, the latter stores them.
How to choose and which hardware ASIC to buy
When you’re doing a comparison between different hardware ASICs for bitcoin mining, you should focus on the following characteristics:
- Hash Rate – how many hashes per second can you produce?
- Efficiency – the ratio of energy used converted to BTC
- Price – the less it costs, the less you produce. Nothing more to add, since at the moment everything is based on production/consumption of energy converted to BTC
Here is some information about the basic ASIC hardware.
Depending on the equipment you choose, always remember to do online tests with “profitability calculators for mining”.
By far the most well known ASIC equipment companies are:
- Bitmain – manufacturer of the Antminer line, based in China and also operates its own “pool”
- BitFury – one of the largest bitcoin mining equipment manufacturers. Its equipment is not currently available for purchase.
- Spondoolies Tech is a leading hardware manufacturer in Israel.
Finally, to complete your hardware project, you need to purchase:
- power supply – your hardware will need a dedicated power supply for efficient use of power.
- cooling fans – big or small, your hardware system overheats very easily, so you need to buy good cooling fans.
Appreciate the real earnings of mining with an advanced hdw Antminer S9
Assuming that one of the most advanced “miners” or Antminer S9 (which belongs to the family of “ASIC mining machines”) is working at a mining speed of 14 TH/s, you can understand how many BTC you can create in a given time interval, considering a special mathematical formula.
Disadvantages of ASIC equipment
Against the use of ASIC is a very high hit, i.e. the point (place) in a subroutine from which the execution of instructions contained in a subroutine block begins, as a result of a call to that subroutine. Therefore, the cost can be very high. The chip makes the ASIC for Litecoin mining only Litecoin and is completely useless for any other cryptocurrency. The low resale value means that, unlike GPUs, ASICs are very few and rarely used for mining cryptocurrency, and their short lifespan means that the ASIC for Bitcoin is currently version 9 and the previous 8 versions had serious bugs.
In addition, the device can fall into disrepair if we change the hashing algorithm. The control of the ASIC market by a few manufacturers is also a serious disadvantage, since it implies very high development and production costs for batches of devices occupying a large part of this market. Designers often create ASICs for long term mining to maintain interest in this coin. Finally, a disadvantage of ASICs is that they are not upgradeable, which means that when a new ASIC model comes out, the old ones become obsolete.
The future of ASIC mining
Cryptocurrency mining has been a very power-hungry process from the beginning. However, as the complexity increased, the need to use interconnected networks with high processing power led to an increase in power consumption. With the primary source of electricity still dependent on fossil fuels, cryptocurrency assets are on the radar of climate activists because of increased emissions.
With the growing controversy and criticism of energy-intensive activities, a huge number of miners have moved to regions that depend on renewable energy sources for power. As a large number of countries go completely green, cryptocurrency mining may soon become a green industry.