ASIC Miner: Complete Guide

/ASIC Miner: Complete Guide

ASIC Miner: Complete Guide 2018-02-13T11:39:12+00:00

What You Need to Know About ASIC Miners

Bitcoin mining has experienced tremendous changes since it was launched in 2009. At first, bitcoin was mined using CPUs, and since computation advanced to a complex level, the CPUs were not able to mine the coins efficiently. For this reason, miners introduced a new way to mine bitcoins which they called graphical processing units (GPU). GPU increased the speed of mining the coin, and it used less power as well.

However, in 2011, Bitcoin mining hardware turned out to be a more complex affair. This is the moment different manufacturers saw the need to develop new bitcoin-specific gadgets that can run on Field-programmable gate array processor (FPGA).  Currently, the industry has advanced, and Bitcoin mining is running in an Application-Specific Integrated Circuit that is abbreviated as ASIC. This is a microchip that is designed and created for the primary purpose of excavating bitcoins at superfast speed.

ASIC miner provides a 100x increase in hashing power, as it reduces the consumption of electricity as compared to the preceding technologies used. The majority of specialists consider ASIC to be the ultimate technology in bitcoin mining since there is no technology that can replace it in the near future. The good thing about ASIC is that they can handle the bitcoin computations on the blockchain at a superfast speed than any other bitcoin miners.

Since the microchips were specifically designed and invented to perform a single task, creating them might be quite costly and time-consuming, but they have unmatched speed. Additionally, ASIC has an advantage over FPGAs, GPU, and CPU since they are designed to mine bitcoin at a higher hash rate. ASIC is a microchip that lets miners use hardware designed, specifically for bitcoin and other SHA-256 also digital coins. Bitmain, a Bitcoin mining giant that is based in Beijing released its first miner in May 2016.

Here are some of the common creators of Bitcoin ASIC Miner:

Bitmain

  • the biggest supplier of bitcoin mining tools,
  • one of the most effective miner,
  • the price range of $1100
  • comes with a three-month warranty
  • can use proprietary technologies
  • ~8 – 14 TH/s, based on the model you use
  • It might be unstable depending on the batch and model

Canaan creatives

  • This is one of the most stable bitcoin miners
  • Uses Avalon controller for up to 4 miners on one network
  • It cost $700
  • Less effective than Bitmain
  • Has a 7.3 TH/s

Ebang

  • Has the capability to combine efficiency and stability
  • It is the only miner that uses 14nm technology
  • Costs between $700 to $1100
  • Uses 6.3TH/s and 9 TH/s models

BitFury

  • Does not provide consumer grade products to users.
  • Submersion cooling interests.
  • ~$1 million for mobile bitcoin mining unit.
  • Comes with a software and blockchain technology.

GekkoScience

  • Small mining firm in the USA
  • Manufactures USB micro-miner
  • Incorporates existing ASICs into own miner designs

How ASIC miner works

When it comes to getting the best bitcoin mining hardware, you don’t have to always go for the high-end stuff if you all you need is to understand the basics of bitcoin mining. You can go for the USB miners such as Sapphire BlackErupters which cost $30 but comes with a low hash power of 330MH/s. This will only give you a measly 1% per month. This is the main reason you need to invest in ASIC miners when you plan to venture into high-end bitcoin mining hardware. One of the best chips to buy currently is the Antminer S9 that comes with a high hash rate of 14.0 TH/s.

  • Since the S9 needs high power of more than 1275 watts depending on the type of power used, you can choose to use two-
    • 110V PSUs like the Gold rated 1000 watt PSU
    • 650-watt Power the ASIC Miner
  • Use the PCIe cable connections on your PSU to connect the PSUs to the S9. Once you are done, the miner will connect automatically to an Ethernet cable.
  • Turn on the PSU, and the miner will start working
  • Connect your PC to the same network as the miner

How to use ASIC Miner

There are some calculations you need to consider before starting to mine the coins. Even though the majority of people opt to mine bitcoins right from the comfort of their houses, it has been hard for the home-based miners to generate an income. Before you decide to join the bandwagon of the bitcoin mining, it is important to determine if it is worth the efforts. You can do this by computing and evaluate different factors. It is only after that you can either build your hardware that can mine the coins or purchase a mining rig and join the aggressively competitive industry.

What you need:

  • You need an ASIC Miner.
  • Software such as BFGMiner and CGMiner
  • Bitcoin mining calculator, to help you know the figure of altcoins mined and the results will be obtained depending on the computing power of your ASIC Miner gadgets.
  • Extra cooler and in this case, you can use an additional fan.
  • Bitcoin wallet, a place to receive the payments from the mines.
  • A pool mining account, you can use slush pool.

The process of mining

  • Ensure that you download the software required for this exercise like CGMiner or BFGMiner.
  • Connect your ASIC miner gadget to your PC.
  • Calculate the bitcoin results that will be proceeds using the bitcoin mining calculator.
  • Connect ASIC miner to the Pool mining. Sign up for a slush pool if you don’t have a pool mining account.
  • The configuration of pool mining. The common configuration needed is the address server pool and port, username and then the password. You will also need a bitcoin address wallet.
  • Access your CGMiner or BFGMiner software.
  • Input your address pool, port, username, and password mining on your preferred software.
  • Start running the software to begin the bitcoin mining process.

How to choose the best ASIC miner?

Currently, the ASIC miners are the leading bitcoin mining hardware because they mine the coins at implausible speeds and their use less power than any other mining rigs. When looking for the best ASIC mining gear to buy, there are a number of the parameters you need to consider. Additionally, you need to conduct a perfect ASIC miner comparison to get the best that suits your needs.

This include:

  • Hash rate
  • Efficiency
  • The price

Here is a brief description of each of the parameters:

  • Hash rate

Hash rate or hash power can be defined as the computing unite of the processing power of the bitcoin network. It determines how strong the bitcoin miner is. When choosing your ASIC miner, it is important to look at the number of the hashes that it can generate per minute. Get a miner with a higher number of hash rates since this means that it is more efficient, making you earn more. For instance, the Antminer S9 is known to have the highest hash rate of ~14 TeraHash/sec.

  • The efficiency

Besides searching for the best bitcoin ASIC miner, looking for the most efficient one is also important. For the reason that mining needs a large amount of electricity, you need to make sure that you invest in a bitcoin miner that can convert huge amount of electricity into bitcoin.

  • The price

It is clear that the usage of electricity and efficiency are some of the most important parameters to consider when choosing the best ASIC miner. However, you need to understand that a cheap ASIC miner will generate fewer coins. Make sure you invest in the most efficient and fastest ASIC miner so that you can generate a large number of coins. Bear in mind that the hash power and price are not supposed to be the only things to look at when getting the best miner. Your primary aim should be the value and while doing so, bear in mind that the best hardware is the one that is effective.

ASIC miner comparison

For a bitcoin miner lover who intends to purchase many rigs, here is a comparison of the most decent deals on bitcoin mining hardware. However, the following miners can also be used to mine DASH and Litecoin.

The Antminer S7

  • Released in 2015.
  • Can produce 0.15 bitcoins in one month.
  • Cheap for its efficiency.
  • Power efficiency of 0.25 J/GH.
  • Hash rate of 4.73 TH/s.
  • Power consumption of 1293 watts.

Antminer S9

  • Can generate 1 BTC in two months.
  • The power efficiency of 0.098 J/GH.
  • Hash rate of 12.93 TH/s.
  • Power consumption of 1375 watts.

The Avalon 7

Released in December 2016

  • Has a hash rate of 6 TH/s
  • the power consumption of 850-1000W
  • has a power efficiency 0.29 J/GH
  • can generate o.14 bitcoins in one month

Antminer R4

  • Can mine 0.07031 BTC in one month
  • Has a hash rate of 8.6 TH/s
  • Has a power efficiency of 0.1J/GH

Antminer D3

  • Has a hash rate of 15GH/s
  • Power consumption of 1200 watts
  • 93 % power efficiency

SP 20 Jackson

  • Comes with a hash rate of 1.7 TH/s
  • Power efficiency of 0.9 W/GH
  • Cost $110

Antminer L3+

  • Used to mine Litecoin
  • Has a hash rate of 504MH/s
  • Power consumption of 800W
  • Costs $2900

Ethereum does not use the ASIC miners since its algorithm is designed to be mined with GPU only because of the memory required.

ASIC miner Additional equipment

Some of the extra things you need include:

  • Power supply to power on the ASIC Miner.
  • Cooling fans, to cool the ASIC when it overheats.
  • Extra cables that are used to connect the ASIC to the PSU.

Mine cryptocurrencies without ASIC miners

Even though it is recommended to invest in ASIC miner, there are other ways to mine cryptocurrency. They include:

  • Mining pools: This is a type of mining where several users contribute their computing power to the creation of a block. A pool solves the block to get the reward, whereby the reward is shared among members based on the contributed processing power.
  • Mining with CPU: All you need is a PC with a strong processor. It is less recommended because today it is not efficient, whereby you will mine for many years with your computer without getting even a fraction of a bitcoin.
  • USB miners: This is a process of mining the cryptocurrencies by connecting a USB device to your PC. Like I wrote above, their not efficient and considered as a waste of time.

To Sum it Up

ASIC miner is the rising star in the bitcoin mining arena, the latest most effective mining hardware that has made bitcoin mining easy. Its Sentinel into the industry has stirred an unimaginable sensation giving many investors a good reason to join the bandwagon. With the introduction of Bitcoin ASICS, bitcoin computation is handled at superfast speed, and they use less energy per bitcoin generated as compared to the previous machines.

Thank you for reading. I hope you have the information you seek. Feel free to visit our website for more.