DragonMint T1 Review
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The evolution of cryptocurrency mining hardware is very interesting to look through as within a short period of time it has advanced a lot. When cryptocurrencies such as Bitcoin have just entered the market back in 2009, mining was so simple that anyone who had a personal computer with an appropriate CPU could mine. With the increasing demand and the number of people who got interested in mining cryptocurrencies, the difficulty of mining has increased as well. As a result of the increasing mining difficulty, the implemented hardware became very weak and had a hard time mining as efficiently as it used to. Then after CPU, GPU hardware became very common, and after GPU specialized hardware have entered the market with a completely new spirit and an unheard amount of power. Many of those hardware technologies did not last long in the competitive and always developing market. In this DragonMint T1 review we will touch upon the DragonMint miner and get to see what it is, what it offers, how competitive it is and more.
What is DragonMint T1?
Some crypto enthusiasts often claim that DragonMint T1, which is also known as DragonMint T 16 is a good cryptocurrency miner, especially in terms of efficient use of power consumption and overall effectiveness. The miner is coming from a company known as Halong Mining and the distribution of the DragonMint has started since 2018. Before the miner became well known enough some people were having doubts, however, the active posts of the people who have already bought DragonMint helped the company to gain a bit more trust. The miners have sold out very quickly in a short period of time right after its release. This model uses SHA – 256 algorithm, has a hash rate of 16 terra hash per second and the DragonMint T1 power consumption is 1,480 W. DragonMint T1 mines coins such as Bitcoin, Bitcoin Cash, and Peercoin. The chips that Dragon Mint T1 is built with are DM8575 GHS per chip and consume around 0.075 J / GHS of power. The miner has a dual fan and an Ethernet connection.
It’s is one of the most efficient regarding power efficiency. It runs faster and has an inbuilt cooling mechanism. The technology was produced after 12 months of thorough research and advancement, which culminated in the production of the ASIC mining chips.
This kind of miner is designed with a brand technology which boasts of productions to the tune of 16 TH/s per single miner. The design has made the 16T the most sought-after Bitcoin miner in the market. The design was produced after research by Halong Mining that cost $30 in development and prototyping. A hundred (100) individuals are behind the development of DragonMint’s T1 ASIC chip. One of them is BtcDrak, a prominent and renowned pseudonymous Bitcoin miner. BtcDrak has shifted his attention to the mining industry, especially the hardware development. Together with other developers, they state that ASIC beats other competitors such as the Bitmain’s Antminer S9.
DragonMint T1 Price
DragonMint T1 is not the cheapest miner when it comes to prices. The miner costs $ 2,099 and if you are interested in buying this miner you need to order it from the company’s – Halong Mining’s official website. Please note that there is a minimum order level, which is five units. The sales of the miner are final and there are no refunds. The buyers get a warranty of 6 months returns to base. The company provides its buyers with a full term and condition, which you are highly recommended to go through before making any purchases. To give you a better idea of the price let’s compare it with another miner. For instance, another ASIC miner known as Antminer S9 (this miner is currently considered to be one of the best in the market), has a mining has a rate of 13.5 TH / s, a power consumption of 1,323 W, and a power efficiency of 0.098 J / GH. This miner is worth $ 1,397.
The cost is likely to lower considering the stiff competition that it is experiencing from Bitmain and Halong Mining. The power supply though has been included, compared with Halong Mining power supply cost of $115.00. The total cost therefore for DragonMint T1 is approximately $2,844.00.
DragonMint T1 Profitability
DragonMint’s T1 ASIC technology is impressive. It cannot be compared in quality with its competitors, such as S9. Its profitability is superb, as it hashes at 16 TH/s, whereas S9 hashes at 14 TH/s. It also consumes 0.075J/GH, as compared to S9 which consumes 0.098J/s. DragonMint T1 also produces increased mining operations, and hence it is more profitable. It is profitable in large-scale mining, but can also benefit the private miner.
The efficiency of DragonMint T1 is that its hashing power allows you to prove that you are the miner of a particular amount of work. That is why its hashing capabilities allow the use of the Proof-of-work. ASIC also provides miners with a shortcut, where you can retain a certain calculation in your hash procedure. It saves from 15% to 30%regarding energy. That is the scale of its profitability.
DragonMint T1 is built to take and consume a lot of power. That is a common featurein many other Bitcoin Miners. It has considerable power consumption. It holds fans which operate at 1480 W at 240 V, and at comfortable temperatures of 25 degrees Celsius. It is also built to contain temperature rise or reduction of -/+ 8%. Some of the parameters that affect its profitability include the temperature variations, which affect the mining process. The power costs also have to be stable to sustain the Bitcoin productions.
Please note that very often even the number of the coins that a miner mines changes due to some external factors. However, as of now, the revenue generated by the DragonMint T1 miner, expressed in BTC (in order to avoid exchange rate issues) is 0.001 BTC per day, 0.0308 BTC per month, and 0.3706 BTC per year. If we deduct the costs of electricity (0.00051 BTC per day, 0.0154 per month, and 0.18481 per year), the profits will be 0.00049 per day, 0.0154 per month, and 0.18579 BTC per year. DragonMint T1 appears to be an ASIC SHA-256 miner that uses an ASIC Boost technology to be as power efficient as possible and these are the main drivers towards the successful implementation of the miner.
In order to understand whether a miner is a profitable one or not there are some parameters, you need to take into account. Here is the list of some of those parameters along with a brief explanation for each one that may be useful for looking at DragonMint T1 profitability too:
The mining difficulty is more of an external factor, which depends on what is going on within the so-called global block. It is usually dependent on the number of the people who are intensively mining on the coin network. In other words, the more people start mining the given cryptocurrency, the more the mining difficulty will increase.
The power cost is an essential factor as it is one of the main cost-occurring factors in the overall process. However, this factor is more or less controllable as you can change your location and move somewhere with a cheaper power cost or you can purchase a mining hardware that is efficient in terms of power consumption. Before the Chinese crypto ban, a huge number of miners used to be located in China because of the low electricity costs in that country.
The hashing rate, besides being a hint about how profitable the given miner will be it also determines the efficiency of the miner. The hash rate is an indicator that shows how much power is being processed in the network of the given cryptocurrency. This factor is needed for powering the complex cryptographic and mathematical operations for the safety purposes. In case of DragonMint T1, the hash rate is 16 terra hash and the miner uses an ASICBoost technology and DragonMint ASIC combo manages to increase its power efficiency.
Mining pool appears to be the online venue where miners pool their resources and share their processing power, split the profits according to how much the given miner has contributed to the process of finding a block. Nowadays, mining pools are seen as a more efficient way of mining, especially compared to the individual mining. This is so because of the effective way the resources are used and the productivity that is increased due to the overall setting. Please make sure that the pool you choose is supported by AsicBoot. At the moment the supported pools are slushpool.com and skpool.org.
DragonMint T1 Power Consumption
The DragonMint T1 miner is considered to be a more or less an efficient miner due to its structure, the algorithm, and the type technology that it is based on. DragonMint consumes 1600 W from the power supply. The voltage of the miner is 12 V and efficiency is 0.093 J / Gh. According to the official website of the DragonMint T1 miner – on Halong Mining, there is a claim that the numbers may vary from one unit of the miner to the other one ± 8 %.
The DragonMint T1 uses a 1600 W power supply, and hence that range of power consumption is highly recommended. It is not mandatory, however. Each DragonMint T1 requires its different power supply, but these can be purchased from Halong Mining sites. If the unit is maintained professionally, it will operate at 220-240 V. Due to that consumption; many mining firms reduce or step down their electricity usages to 220V. It is however recommended that you purchase your own DragonMint T1 power supply.
Remember that the 220 V currents can only be found outside the US outlets. America operates on 110V defaults, but you can go ahead and hire an electrician, and purchase a power supply that will be rated at Rosewill 1600 W for an 80+ Gold Certification. The PSU will get the work done, though they are still not recommended for optimum mining.
It works by consuming a small token of about 0.075J/GH. That translates to around 1480W from the direct wall. DragonMint T1 is 30% more efficient and power efficient than S9. Power consumptions may, however, vary at other times, depending on the type of the main power supply.
The Setup of DragonMint T1
Step 1: getting the DragonMint T1 up and running
In order to set up the DragonMint T1 miner, first of all, you need to register your product on the website of the manufacturer, under the “warranty” section. This is important for the activation of the warranty and to do so you need enter the serial number that appears on your number and wait for further instructions via email. Then you need to connect the power supply wires with the miner’s hash cards and finally the control board. To do so you simply insert the ten nine pin connectors into the place and make sure to connect them hard. Then you need to plug the one end of the Ethernet cable with the port of the Ethernet that is on the controller board of the miner. Afterward, you need plug the ether cable’s other end into the router or switch of the network.
The next step that you should take is plugging the IEC C 13 style power into the power supply. Please note that you should tend to lower gauge as it is better. At this point, you need to turn the power on from the power of your power supply.
Step 2: connecting the DragonMint T1 to the network
Now you need to find the IP address of the miner, which you can do by executing a scan on the network. For the execution of the scan, you can find tools online. If you cannot find any good tools for your case you can also log in the administration panel of your router and it will display the list of the devices that are connected to it. After finding the IP address of the miner, you should place the miner’s IP address and the name of the device. The name of the device in the list of the connected devices will come up as “DragonMint”. As you do so you need to log into the interface of the web configuration. To do so, you need to go to a browser you use, open a new tab and use the IP address that you have found in the last step. Then enter the credentials default login for the miner. The default username is admin and the default password is dragonadmin. After you log in successfully the configuration of the miner will show up on the dashboard. Finally, your last has to be the configuration of the mining pool. For this step, you need to go to the menu on the left side, go to settings and then pools. Here you should enter the URL of the pool, the worker ID, the username and save the changes. If the configuration was correct then in a few minutes you will see an activity on the dashboard of your pool.
DragonMint T1 Power Supply
In order to power the miner and make sure that it works without facing any issues regarding an electricity, you need to set up a proper DragonMint T1 power supply. For instance, the 1850 W 110 – 240 V 80+ Gold Rated Power Supply Kit works with several different types of miners (e.g. Blake 2B, DragonMint B52), as well as with DragonMint T1. This power supply kit is compatible with 110 – 240 V input and gives around 1850 W at 200- 240 V (in case of 110-120 V, a total of 1803 W). The power supply features X6B for the x – adapter. In case of using it with DragonMint, it will consume 1480 W, 16 Th / s. The efficiency rating is 80 plus gold. This particular 1850 W 110 – 240 V 80+ Gold Rated Power Supply Kit costs $ 219 and comes with cables, X6B X – Adapter, 3rubber foot pads and other useful parts.
DragonMint T1 Temperature
The temperature for DragonMint T1 is 00C – 400C. The miner has two fans (9 blade 6k rpm) on itself that try to keep the device cool while it is trying to solve the complex tasks. The temperature is very important when it comes to security and productivity. The dual fans ensure 1,480 W at 240 V at ambient 25 0 C temperature. The noise level of the DragonMint T1 miner is 75 db.
In a Nutshell
- DragonMint T1 comes from a reputable company.
- The miner has a high hash rate.
- In contrast to some other miners, it does not leave its users with losses.
- In terms of profitability, DragonMint T1 is not the best one.
- The DragonMint miner is not available on Amazon or on other major online retailers.
DragonMint T1 is not the most profitable miner anymore taking into account that as of now its annual return rate is around 69%. In other words, it can cover its costs and will bring modest returns to its owners but will not make them rich for sure. If you want to make a long run investment in a miner then maybe you should look for another option. However, if you are new in this industry and if you want to try yourself, then DragonMint may be a good option.
We hope this review helped you to get a better idea about DragonMint T1 miner. Make sure to check out our website for more up to date and comprehensive reviews. Thank you for reading and see you next time.