Quick inner navigation:
The crypto mining industry is currently a booming industry. However, it is a highly competitive one. Mining Bitcoin is a process where transactions are verified and added to the blockchain network. The mining process is the process in which new Bitcoin and other cryptos are released. The mining process also involves bringing together the recent transactions into blocks and trying to solve complex mathematical and computational puzzles.
The miner who first solves a particular puzzle will be allowed to place the block on the blockchain and claim the crypto reward afterward. The reward for mining are both the transaction fees that are usually paid during transactions and the newly released crypto.
As more cryptocoins are already mined, it becomes even harder to mine new ones. For a miner to successfully mine a new block, the block has to be accompanied by a cryptographic hash which must fulfill certain requirements. Mining of a block is successfully completed when computational puzzles are solved. When the correct hash is found, a new block is formed, and the miner that discovers this new block will be rewarded with units of digital currencies.
What is Antminer?
Antminer is a mining hardware line that is developed by Bitmain. The Chinese company was started by Jihan Wu and Micree Zhan in 2013. Chip design expert Micree Zhan co-founded the company with the aim of creating a chip that will launch Bitmain onto a new trajectory. This led to the team becoming the world’s leading Bitcoin miner.
The company Bitmain created the Antminer hardware in 2013, and they have helped the company dominate the new, hyper-competitive mining industry. Bitmain is now responsible for roughly 70% of all Bitcoin mining.
Wu first discovered Bitcoin back in 2011. Despite warnings from friends and family, he emptied his bank account in order to purchase Bitcoins at that time. He believed in the decentralization of Bitcoin and bought them for less than a dollar. The price soared two years later, from $20 to over $900. Wu then realized that he could make money by not just trading and investing in Bitcoin but by also mining it. Back then, a miner earns as much as 25 BTC for every block mined. He had the right idea at that time, but he needed a chip designer.
He reached out to Zhan, and the duo started Bitmain, which led to the development of Bitcoin mining tools such as the Antminer.
Services offered by Bitmain
Antminers are cryptocurrency mining hardwares. The hardwares are used for mining digital currencies and are currently considered as the most powerful mining hardwares in the world. Bitmain develops Antminers for different cryptos such as Bitcoin, Litecoin, and Dash.
Parent company Bitmain is also known for offering Antpool mining pool. The mining pool can be used to mine cryptocurrencies such as BTC, LTC, ETH, and ZEC. It has no BTC mining fee for PPLNS (Pay Per Last N Shares) though they hold on to all transaction fees from the block.
Another service offered by Bitmain is hashnest. This is a cloud mining service that allows users to participate in bitcoin mining without maintaining the hardware themselves. The cloud mining app is available for Android and iOS mobile platforms.
Bitmain via the Antminer tools envisions a world where mining can be open and easy to the general public again. The development of the first ASIC chips in 2013 has led to more difficulty in mining Bitcoin. This made it virtually impossible for the average person to make profit mining Bitcoin using their own hardware. Bitmain, however, hopes to change that by creating tools that will give miners the desired power rates. Their Antminer tools are designed to reduce the cost of electricity for the miner, which will ultimately lead to more profit for the miner.
Are Antminers still profitable?
Mining using Antminer hardware is still somewhat profitable but no as it was in the past. However, mining altcoins is more profitable than Bitcoin. The reduction in mining rewards and the high cost of the mining hardware chips have made it very hard to profit from it instantly. Antminer reviews stumbled upon claim they are the most profitable mining tools as at the moment.
The main factor that will affect your ROI is the high power consumption by Antminer. Their latest product, the Antminer S9 uses roughly 1375W. This implies that running the mining hardware will cost you roughly 15 and 30 cents per hour, though it depends on the price of electricity in your area.
The Antminer has an output of 14 TH/s. it is currently the most powerful Bitcoin mining hardware in the world. According to its specs, the S9 Antminer will be able to mine 0.03600399 Bitcoins a month. This is what you are expected to mine a month even though we haven’t taken into account other figures such as the hardware cost, the power cost, pool fees and the others.
- After a month of mining using the Antminer S9, you can make a profit of 0.02138775 BTC (178.78 USD), though the profit depend on your cost of electricity (we used $0.1 per kWh for this example.) The S9 is sold for $2,000. Mining in regions with high electricity tariff will definitely lead to a loss for the user.
- The Antminer can make you roughly 0.01248924 BTC (104.40 USD) using the same electricity rate as above. This miner is sold for $1,000, and it will take you roughly 10 months to cover the cost of the hardware. Mining in regions with high electricity tariff will definitely lead to a loss for the user.
- From the above data, it is clear that mining bitcoin is no longer profitable. This is the reason why miners have turned their attention to altcoins. After mining the altcoins, the reward given to them are converted to bitcoin.
Antminer Mining Products
Bitmain has produced several mining hardware tools over the past few years. Some of them are still being used at the moment while miners have dropped some due to the fact that they are no longer profitable. We will look at the mining products offered by Antminer, what they do and what makes them unique.
The Antminer S9 and S7 are the top Bitcoin miners manufactured by Bitmain. The S9 has a hashrate of 14 TH/s, making it productive. The unique features of Antminers Bitcoin mining hardware are the ASIC chip they are manufactured with.
This has made them solely focused on Bitcoin mining. They consume less electricity when compared to other mining tools such as the Avalon and the DragonMint.
Antminer S9: This is a very powerful Bitcoin mining hardware. The S9 operates without any need for a separate host computer – built-in web management portal. The recommended power supply is AntMiner APW5/APW3 which are sold separately. It has an efficacy of 098 J/GH±7% and a power consumption 1323W±7%. Its hashrate is 13.5TH/s±7%. This mining hardware is still being produced by the company.
Antminer S7: The S7 is a bitcoin miner which has a hashrate of 4.73TH/s±5% and a power efficiency of 0.25W/GH±10%. The S7 doesn’t come with a power package, thus you have purchase a power unit to make it work. The S7 miner isn’t profitable at the moment. Miners will lose 0.12USD per day using this miner if they are using 0.1 USD/ kWh. Mining in areas such as New York which has a 17 USD/KWh means that miners wouldn’t make a profit. They will lose over 500 USD everyday using this mining hardware.
The Antminer L class are Litecoin Scrypt miners developed by Bitmain. Just like the S series, this class of miners is designed specifically to mine Litecoin. They are designed with the ASIC chips, which allows them to focus on only Scrypt mining.
Antminer L3: This is the most powerful Scrypt mining tools manufactured by Bitmain. The L3 has a 504MH/s hashrate with a power consumption of 800W. However, the power efficiency differs depending on the PSU’s efficiency. This Antminer is considered still profitable with 178USD profit per month mining a Scrypt coin. For the hashing board to operate, you will need an ATX PSU that has at least 9 six-pin PCI-E connectors. Mining Litecoin in areas with electricity tariff above 1USD per KWH isn’t profitable. The miner will lose money using this hardware to mine Litecoin.
This hardware is still being manufactured by the company and is sold at roughly $1400.
The PSU is an electrical device that is designed to supply electricity to an electric load. The main function of the PSU is to convert electric current from a source to the exact voltage, current, and frequency that will ultimately power the load.
Antminer Apw3++: This is a power supply tool that is used in providing power to Antminer S series and the Antminer L3. It produces roughly 1600-Watt Power Supply and comes with 5 pairs of 6-pin PCI-E power connectors. In order to work, the Apw3++ needs 205-264 VOLTS.
This PSU is very beneficial for miners with large-scale mining operations since heat management is a major concern for them. This PSU can also work comfortably in an environment that has an ambient temperature of 50°C. The power efficiency is roughly 93.8% and can save miners more than $150 USD per year in power fees
This is an internet router manufactured by Bitmain to serve two functions. The first is to be your everyday internet router while the second is to be a Bitcoin miner that gives you the chance to mine Bitcoin and Litecoin.
Antrouter L1: The device is a wireless network device that allows you to use the internet while also mining Litecoin. This isn’t a powerful miner, but it can be able to mine Scrypt coins somewhat effectively when it is setup correctly and powered on. This device has a Wi-Fi transmission rate of 150mb/s while the hashrate of the chip is 1.29MH/s.
Its mining efficiency power is 2.93 J/MH +2.9% while the power consumption is 3.78W +2.9%. This product is still manufactured by Bitmain and is sold for roughly $40.
This is a tool that is used in mining Dash. The tool has an ASIC chip that makes it specific to Dashcoin mining.
Antminer D3: This tool is currently the most powerful ASIC miner for Dash. The D3 miner can achieve a mining hashrate of 15 GH/s while it consumes power around 1200W. Its efficiency level stands at 1.6 J/MH. You will need to use the ATX PSU with the correct power rating and connections so that it can work maximally.
Antminer’s Top Competition
The Antminer mining hardware has a lot of competition, but we will look at the top 4.
This is a Bitcoin miner that was announced by parent company Halong Mining last year. The company reported that they spent roughly $30 million on the research, development, and prototyping of the miner. Back in November 2017, the company took pre-orders for the DragonMint 16T miner to be delivered in March 2018. The pre-order for this mining hardware has been closed however by the company.
The DragonMint 16T is acclaimed to offer miners 16 TH/s of hashpower. Comparing to Antminer’s S9, this mining hardware has the potential to use less than 300W for the same hashrate, while also offering a cooler temperature.
Ebit E9++ & Ebit E10
This is another mining hardware that provides competition for the Antminer hardware. The mining tools were announced by the parent company Ebang back on December 20th, 2017. From the reviews so far, the two miners are more efficient than the Antminer S9. However, they are way more expensive. At the time of writing this report, the Ebit E9++ & Ebit E10 are 30% more expensive than the Antminer S9.
Reviews have shown that orders for the Ebit E9++ & Ebit E10 have overwhelmed the company as users are finding it hard to purchase one. This shows that the two mining hardware mentioned above are providing real competition to the Antminer mining hardware at the moment.
Canaan Creative, developer of the Avalon 8 mining hardware had released earlier versions of this tool, the Avalon 6 and 7. Back in December 2017, the company announced the launching of the Avalon 8, offering miners two models of the mining tool. The Avalon 821 which was recorded to have 11 TH/s at 1200W and the Avalon 842 which was reported to have 13 TH/s at 1200W are the two models designed by the company.
From the reviews available, the Avalon 841 is more efficient compared to the several versions of the Antminer S9 mining hardware. The Avalon 821 meanwhile is effective if the miner can get access to cheap electricity since it is cheaper than the Antminer S9.
This is a crypto mining company that was established back in 2008. The company has released some amazing mining hardware over the past few years. They offer several products such as the Baikal Miner Giant-B, Baikal Giant-N, and the Baikal Giant X10. The Baikal Miner Giant-B comes in different models including Blake256R14, Blake256R8, Blake2B, Lbry, and Pascal. Each of them has its hashrate and power consumption. Blake256R14 is the most efficient amongst them, with a hashrate of 160 GH.
The Baikal Mining hardwares are very good, according to the several reviews read online.
What makes Antminer Unique?
The technology used in Antminers is quite unique. Their three hashing boards make use of 189 BM1387 ASIC Chips. The chips are built by using the 16nm FinFET technology, thus they use roughly 0.098 Joules per Gh/s.
The proper function of each of their chips can be tracked visually inside the device management interface. This is something that the Antminer hardwares have that others lack.
The Antminer mining tools are currently considered the best in the world even though they are getting stiff competition from the likes of Avalon and DragonMint. Due to the high cost of mining tools, and other fees such as the electricity and mining fees, it has become very hard for miners to make a profit. The first year of mining usually leads to a loss on the part of the miner. The ASIC mining tools are still preferred by the miner.
It is hard to make money instantly using Antminer ASIC mining tools due to the huge initial investment you have to make at the beginning. Bitmain is determined to keep manufacturing mining tools that will make it easier and more profitable for people to mine cryptocurrencies.
To read more informational pieces on cryptocurrencies and their related products, browse through our site and find more amazing content!