Are you ready to try your hand at Bitcoin mining? While it can be highly profitable, it does require power-hungry hardware and a good understanding of the principles that drive blockchain technology. If your ready to mine Bitcoin, you’ll need some specialized bitcoin mining hardware called application-specific integrated circuit devices, or ASICs.
There are a lot of different ASICs machines on the market today. Entry-level Bitcoin mining devices can be relatively low cost, while high-performance miners can range up to over $10,000. When assessing ASIC hardware with the intent of Bitcoin mining, you’ll need to weigh up the power of the hardware versus the amount of power it draws, along with the cost of electricity in your region. In this article, we list some of the best Bitcoin mining hardware machines for potential profitability.
ASIC hardware is now essential to Bitcoin miners. There are three primary factors to consider when choosing the best Bitcoin mining hardware:
The price of Bitcoin mining hardware varies based on operational efficiency, durability, and computational power. As a rule, cheaper hardware will deliver lower efficiency and lower profitability. The cost of mining hardware should be incorporated into any profitability analysis, taking the expected lifespan of the hardware into account.
Bitcoin mining hardware is essentially designed to convert electricity into BTC. If you’re not sure how to choose the best Bitcoin mining hardware, focusing on energy efficiency is the best place to start.
Hash rate is the rate at which Bitcoin mining hardware is able to make intensive mathematical operations. In simple terms, the higher the hash rate of the hardware, the more likely it is that the miner or mining pool for which the hardware is operating will solve the next block in the Bitcoin blockchain. As a rule, higher hash rate hardware is more expensive. Overall, the best Bitcoin ASIC is the most cost-efficient, most profitable ASIC.
Here are a few of the best ASICs for Bitcoin mining:
Bitmain AntMiner S5
The Bitmain Antminer S5 isn’t the latest offering from the Beijing-based ASIC manufacturer, but still provides excellent value for money and efficiency. Unlike later models such as the S7 and S9, the AntMiner S5 operates a lower power supply of 115 volts, drawing an average of 560 Watts.
The low power requirements of the S5 makes it an ideal entry-level Bitcoin mining ASIC that is capable of providing impressive operational efficiency. The S5 generates a hash rate of roughly 1 GH/s for every 0.51 Watts, which equates to 0.51 J/GH.
The S5 is suitable for both hobby miners and entry-level home mining operations, with the added benefit of a low weight profile at just under 2.5KG.
Bitmain AntMiner S7
The Bitmain AntMiner S7 is another older model from Bitmain’s highly popular line of ASIC units but remains one of the most popular devices online today. Offering lower power consumption than the S5, the S7 is widespread throughout China-based Bitcoin mining farms and boasts impressive adaptability when used in combination with a robust power supply such as the 1600 watt APW3.
While the S7 does deliver reasonable profit depending on power prices, the efficiency of the unit depends on both the power supply used and ambient temperature — the S7 is particularly sensitive to environments warmer than 27 degrees Celsius.
Overall, the S7 is most suitable for miners based in cooler climates, as cooling costs can significantly cut into profitability in warmer regions.
Determining the best Bitcoin miner for your requirements involves carefully assessing the hash rate of any given miner, temperature control requirements, and power draw. The cost of power in the region you will operate your mining equipment is critical, as this plays a major role in calculating overall profitability.