What You Need to Know About ASIC Miners
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Bitcoin mining has experienced tremendous changes since its launch in 2009. At first, bitcoin was mined using CPUs, and since computation has advanced and has become more complex, the CPUs are not able to mine the coins efficiently anymore. For this reason, miners introduced a new way to mine bitcoins which they call graphical processing units (GPU). GPU increased the speed of mining the coin, and it used less power.
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.
What is an ASIC miner?
ASIC that stands for Application Specific Integrated Circuit, appears to be an integrated circuit made for a specific use and not necessarily for a general use. ASIC miners are the most developed and sophisticated technology for mining and these miners exceed their ancestors such as CPU, GPU, and others. Bitcoin ASIC chips can solely be used when it comes to Bitcoin mining (despite some rare ones). ASIC chips ensure the speed, the productivity as well as the costs of the given miner. These are essential factors as in case they are not met, mining will be both not beneficial and in some cases even costly. The chips are the part of the miners that consume the most electricity. Some people combine the chips and the rigs that are manufactured by companies.
ASIC chips are designed for being used along with the mining rigs. The chips are designed in a way so that they mine coins and make the process much more efficient, especially in comparison to a stack of GPUs. 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 which no other bitcoin miner can do.
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 brands of Bitcoin ASIC Miner:
The company behind the Antminer is the biggest supplier of bitcoin mining tools. It is the producer of one of the most effective miners. The price of the Bitmain miners is around $1,100 and those come with a three-month warranty. These mining equipment are around 8 to 14 TH/s and the number varies based on the model you choose to use. Some users have recorded that the miner is unstable depending on the batch and model. The profitability and the costs mainly depend on the type of miner you are working with.
One of the best ASIC miners in 2018 is Halong mining that started out as a brand new ASIC startup. After the establishment of the startup, the company has announced their Dragonmint T16. A number of people believe that Halong is the most capable and efficient ASIC miner of all times. Currently, it is in a tense competition with Bitmain as it is considered to be the best ASIC miner. The company has even released an advertisement that touches the benefits of the miner and tries to create a trust and a sense of credibility for the company along with the miner. The team claims that there were millions of dollars that were invested in the development process of the product. Dragonmint T16 has shipped its very first batch in March 2018. This professional hardware mining equipment runs at 220 – 240 V. You are recommended to run it with an additional Dragonmint power supply. This miner consumes 0.075 J/GH and hashes at 16 Th/s.
Canaan Creative is recognized as one of the most stable bitcoin miners. It uses Avalon controller for up to 4 miners on a single network. This mining equipment costs around $ 700, however, many users claim that it is not as effective as some Bitmain miners. These mining equipment has 7.3 TH/s.
The team behind the Baikal has been working on the research and the development of the technology and the chips since 2008. The team has created SHA 256 algorithm chip back in 2013 and from this experience, they got to learn a lot of things. At the moment, Baikal has four product lines that include Giant B, N, x10 and plus. The company also offers services to its users such as mining tutorials, after sale services, an active customer support center and so on.
Ebang has the capability to combine efficiency and stability. It is the only miner that uses 14 nm technology. The price of Ebang is around $ 700 – $ 1,100 and the models are from 6.3 to 9 TH/s.
BitFury does not provide consumers with grade products to the users. However, there are submersion cooling interests. BitFury has around $ 1 million for mobile bitcoin mining unit.
GekkoScience has been created by a small mining firm that comes from the US. The company manufactures USB micro-miners. It incorporates existing ASICs into own miner designs. GekkoScience 2 PAC, for instance, is not profitable.
BREAKING NEWS: The New Manufacturer of ASIC Mining Chips – Samsung
April 12th, 2018: MyRig (an online retailer of mining rigs) has caused a lot of excitement through a tweet. MyRig tweeted a picture with a wafer and claimed that it was produced by Samsung. There were rumors that the tech giant has started producing ASIC chips since last year, however, the buyer was unknown. Some people believe that Samsung sells its ASIC chips to Halong Mining for their DragonMint T1 miner. All in all, this new product may lead Samsung to become one of the most demanded ASIC chip producers and the company itself most probably has the resources to satisfy the demand.
How do ASIC miners work?
ASIC miners can be both pre-manufactured especially for an application and manufactured for a specific customer application. The custom manufactured ASIC is usually using means that come from the “building block” type of library of components. ASIC miner consists of a mining software, ASIC chip, power source, and fans. The mining rig is the set of the processors, fans, ASIC miners and so on.
In order to understand how ASIC miners work and which one will suit you the best, you do not need to be a mining expert. You can go for the USB miners such as Sapphire BlackErupters which costs $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 the 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
To get started:
- 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 evaluating 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 – you can use an additional fan.
- Bitcoin wallet, a place to store the earned rewards in form of a cryptocurrency.
- A pool mining account, you can use slush pool.
The process of mining
- 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 is the address of the server pool and port.
- 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. When looking for the best ASIC mining gear to buy, there are some 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.
The parameters include:
- Hash rate
- 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 it can generate per minute. Get a miner with a higher number of hash rates since this means that it is more efficient, letting 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. As 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 the 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 looking for it, bear in mind that the best hardware is the one that is effective.
ASIC miners 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 S9 Antminer by Bitmain is yet another addition to the Antminer series, which offers a staggering level of hashrate which stands at 14 TH/s. Indeed, this aspect alone makes it enter the league of higher-end miners. Moreover, consumes power very efficiently at only 0.1 J per GH/s. On the downside, however, it is priced heavily. You can get a new Antminer S9 for about $2000 – $2100. The price of this miner is perhaps what makes it stand out as a professional level miner.
- Can generate 0.02148734 BTC in a month if you pay 0.1 USD/kWh.
- The power efficiency of 0.098 J/GH.
- Hash rate of 12.93 TH/s.
- Power consumption of 1375 watts.
Dragonmint 16T is a Bitcoin hardware miner that is considered to be one of the best ASIC miners of these days. This mining technology offers a profit ratio of 134 % based on the numbers that are valid as of now. The annual return is around 74 %.
- The miner type is SHA 256 and it has a hash rate of 16,000 GH/s.
- The cost per GH/s is $ 0.17
- The profits as of today per month are 0.0160 BTC and 0.1916 BTC per year.
The Avalon 7
Released in December 2016, manufactured under Canaan Creative, the Avalon 7 which is also known as Avalon 721 is one of the most popularly purchased bitcoin ASIC miners ever. However since its announcement went back in 2016, this miner may not be able to compete with the other giants that currently exist in the mining industry. Avalon 7 offers a decently high hashrate of 6 TH/s. Moreover, it works in between the power range of 850 W – 1000 W. As compared to the S9, the hashrate that AVALON 7 provides is half of S9. Nevertheless, the AVALON 7 costs far less after all. But as profitability is the prime concern of all miners, the AVALON 7 may not bring good levels of profit as far as Bitcoin mining is concerned.
- Has a hash rate of 6 TH/s
- The power consumption of 850-1000W
- Has a power efficiency 0.29 J/GH
- Can generate 0.00744341 BTC bitcoins in one month if you pay 0.1 USD/kWh.
Baikal Giant Series
Baikal Giant series are quite well known for how powerful and efficient they are for those people who are mining a cryptocurrency with it.
- Baikal Giant B generates 0.01093 BTC weekly and 0.04327 monthly profits. Baikal Giant B has a hash rate of 160 GH/s. It consumes 410W of power.
- Baikal Giant x10 has a hash rate of 10 GH/s. It consumes power worth $ 1.81 per day, generates 0.011127 BTC per week and 0.0423047 BTC per month.
- The hash rate of the Baikal Giant N miner is from 20 to 40 kHz/s. The electricity costs per week are – 0.000108 BTC and – 0.0004649 BTC per month. The miner generates 0.004 BTC per week and 0.0486 BTC per month.
- Finally, Baikal Giant + has a hash rate of 2,000 MH/s. The electricity costs with this miner are worth – 0.0007768 BTC per week and – 0.00333245 BTC per month. However, the miner generates 0.00249738 BTC per week and 0.001216107 BTC per month.
The Antminer R4 manufactured by Bitmain is quite popular since it has been designed to be used at home. Due to this reason, this particular ASIC miner has a very low level of noise. It would not be wrong to say that this miner is indeed the 2nd most efficient comparing it with Antminer S9. The one downside of this miner is that at the price of $1000, it is quite expensive for both hobbyists and home miners. According to the specifications, R4 Antminer can hash up at 8.6 TH/s which makes it the 2nd fastest working miner after the popular Antminer S9.
- Can mine 0.01254493 BTC in one month if you pay 0.1 USD/kWh.
- Has a hash rate of 8.6 TH/s
- Has a power efficiency of 0.1J/GH
The Antiminer D3 is one of the most expensive yet one of the best ASIC miner 2018 out there! It is manufactured by Bitmain, which is a well-reputed company in the world of mining hardware. This ASIC miner is specifically dedicated to DASH, considering the increasing popularity and attention that which DASH is currently enjoying. You can get the Antminer D3 for about $2699, which is quite expensive. However, for the price paid, you get a high hashrate of 15 GH/S with a power consumption of 1200W. Hence, a power supply of 1200 W will have to be purchased along.
- Has a hash rate of 15GH/s
- Can mine 0.00149674 BTC BTC in one month if you pay 0.1 USD/kWh.
- Power consumption of 1200 watts
- 93 % power efficiency
The Antminer S7
Released in 2015, the S7 Antiminer by Bitmain is one of the best ASIC miner that is currently available. The S7 miner offers a high hashrate of 4.73 TH/s and works quite efficiently at just 25 J per GH/s. One of the prime pros of this miner is that it falls under a reasonable price range of $400 – $500 (the price varies in between this range). While it has some positive aspects associated with, there do exist a number of downsides. Perhaps, the biggest downside of the S7 miner is that it could be very noisy (62 dB). Apart from that, a higher end PSU would be required due to the high power usage (1340 Watts).
- Nowadays it is not profitable- it generates 0.00006500 BTC in one month even with 0.1 USD/kWh
- Power efficiency of 0.25 J/GH.
- Hash rate of 4.73 TH/s.
- Power consumption of 1293 watts.
SP 20 Jackson
Also known as SP20 Jackson, Spondoolies shut the production of this miner back in the year 2016. Nevertheless, it is pretty efficient for its price. Dedicated primarily to bitcoin mining, it is hard to say whether this piece of hardware would still bring any significant profits. This is because it provides a maximum hashrate of only 1.7 TH/s which is quite low in comparison to the other top competitors such as Antminer S9. Nevertheless, since it currently costs only around $100 – $110, it could be a good deal for hobbyists and bedroom miners. At higher speed, however, the unit is known to get really hot. Moreover, it is also not very efficient in terms of power consumption at all. But for about a hundred bucks, it really is not a bad experimental deal.
- Comes with a hash rate of 1.7 TH/s
- Power efficiency of 0.9 W/GH
- Cost $110
Through the consumption of a little amount of electricity and relatively very low fan noise, the Antminer L3+ is perfect for both hobbyists and professional miners alike. Since it is far more compact as compared to other ASIC miners, the L3+ can easily be stored and kept safe. The L3+ is indeed the most highly recommended miner. However, the amount of L3+ out there is scarce. This is the prime reason why this beast of hardware is not cheap at all. Also, do keep in mind that you will have to buy a PSU (Power Supply Unit) to run this beast separately.
- Used to mine Litecoin- converting to BTC you’ll be making 0.02114706 BTC a month if you electricity costs 0.1 USD/kWh.
- Has a hash rate of 504MH/s
- The power consumption of 800W
- Costs $2900
BREAKING NEWS: Bitmain Featuring the Very First Ethereum ASIC Miner
April 10th, 2018: The rumors about the launch of the first Ethereum ASIC miner were confirmed by Bitmain. The rumors about this new Ethereum mining opportunity have been around since February 2018 and managed to raise a hype that found its way even on the CNBC news. The CNBC news has expressed a concern that this could create problems for Nvidia and AMD, by hurting their currently rising demand.
Right now, Bitmain is in the process of preparing its supply chain and is getting ready to start shipping. The price of the Antminer E3 is $800 and the company will start shipping from the second quarter of 2018 (sometime in July). So far, the company has put restrictions on the buyers from Taiwan and China.
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.
ASICs’ impact on cryptocurrencies
Initially, Bitcoin mining has been so simple that people were able to do it with the CPU, which is part of personal computers. However, later on, when the difficulty of Bitcoin mining has increased with the rising demand for Bitcoins, the CPU technology stopped being as effective as it used to be. Nowadays, it is even impossible to mine Bitcoins with CPU. For this very reason, technology like miner ASIC was very much needed.
ASIC is a specialized technology, which means it is used for mining only, with very high hash rates and efficiency. The best ASIC miner chips run Bitcoins worth thousands of dollars per month. Since the release of the ASIC miners, some companies have started mining farms, which means they own a lot of mining equipment and mine Bitcoins all the time. Similar companies, however, have a hard time finding a location where the electricity is cheap and there is enough space for both the mining equipment and for the fans that keep the miners cool after the intense work. ASIC miners made the process of blockchain validation more or less centralized as some of the companies started to mine full time.
What is nicehash.com?
nicehash.com is a cryptocurrency cloud mining platform that is coming from Slovenia, Ljublijana. Nice Hash was founded in 2014 by Marko Kobal and Matjaž Škorjanc. The main focus of the platform is connecting miners who sell hash power with those who are interested in buying hash power. However, the services and the products of Nice Hash are not limiting only with cloud mining it also offers a lot of useful tools such as miner profitability calculator, which calculates the profitability for various CPU, GPU, and ASIC miners. Nice Hash has its own mining software. The platform also offers cryptocurrency wallets on which people can store their digital currency.
As an owner of ASIC mining hardware, you can become a seller of hashing power or, in other words, a miner. The hash power that you sell is going to be directed to the pool, where the buyers have chosen to start mining. Then you will be paid in bitcoins for the given price which is decided based on the current weighted average, after each submission of a valid share. This process is being refreshed during each minute. You do not necessarily have to be a very tech-oriented person to be able to get involved in this process because the stages described above are mainly automated.
Cryptocurrency mining 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.
- USB miners >> This is a process of mining the cryptocurrencies by connecting a USB device to your PC. Like I wrote above, they are not efficient and considered as a waste of time.
- 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.
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. It has stirred an unimaginable sensation giving many investors a good reason to join the bandwagon. With the introduction of ASIC Bitcoin miners, bitcoin computation is handled at superfast speed, and they use less energy per bitcoin generated as compared to the previous machines.
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