ASIC Miner: Complete Guide

/ASIC Miner: Complete Guide

ASIC Miner - the rising star of the mining arena. Let's get to know it together.

ASIC Miner: Complete Guide 2018-04-16T16:42:03+00:00
ASIC Miner: Complete Guide

What You Need to Know About ASIC Miners

Quick inner navigation:

  1. What is an ASIC miner?
  2. Common ASIC miner brands
  3. How do ASIC miners work?
  4. How to use ASIC Miner?
  5. How to choose the best ASIC miner?
  6. ASIC miners comparison
  7. Cryptocurrency mining without ASIC miners

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 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:

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 Creative

  • This is one of the most stable bitcoin miners
  • Uses Avalon controller for up to 4 miners on one network
  • It costs $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

  • Created by a small mining firm in the USA
  • Manufactures USB micro-miner
  • Incorporates existing ASICs into own miner designs.

BREAKING NEWS: The New Manufacturer of ASIC Mining Chips – Samsung

April 12th, 2018MyRig (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?

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
  • 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 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 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.

Antminer S9

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.

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.

Antminer R4

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

Antminer D3

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

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

Antminer L3+

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
  • 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.

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.
  • 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, they are 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. 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.

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

Leave A Comment3 Comments on "ASIC Miner: Complete Guide"

  1. Jay
    Jay March 11, 2018 at 8:23 am

    Cool! Thanks

    0
  2. Yoda
    Yoda March 18, 2018 at 10:33 pm

    You should really update this article. The profitability is way too high. you will mislead people. Also include the latest miners, such as Baikal giant B. Check nicehash.com for more up to date profitability. i have an antminer D3, which is an unreliable POS, and unprofitable also, and an Avalon 741, which is good but only makes about $50 net per month.

    1
    • Mark Schwarz
      Mark Schwarz March 19, 2018 at 8:38 am

      Hey. We updated it. Thanks for letting us know.

      0