Whether you are a novice in Bitcoin mining, an experienced enthusiast, or an out-and-out professional, it’s always important to stay up-to-date when it comes to your mining devices. New mining hardware equipment appears on the market every few months, offering miners a great deal of choice and a pain-in-the-neck FOMO feeling the moment they realize there is yet another pretty toy out there that everybody is talking about.
To combat poor awareness on the matter, Changelly has prepared a list of the best Bitcoin mining hardware for all sorts of miners. Let’s take a look at the most efficient, popular, and balanced models on the mining devices market.
But first, we’ll revise the essential basics of Bitcoin mining and see how mining hardware changed in the last few years.
Bitcoin Mining Basics
Bitcoin mining is the process of verifying bitcoin transactions and recording them in the public blockchain ledger. There are three main things mining provides: new Bitcoins, transaction confirmation, and security. To become a miner, you’d need a particular set of software and hardware equipment and a fail-safe source of electricity supply (preferably, cheap electricity).
Bitcoin mining is not an easy thing to do. It requires powerful machines with a high hash rate to undertake mining operations. But it hasn’t always been the case. Satoshi Nakamoto, the creator of Bitcoin, viewed laptop or desktop computers (CPUs) as mining devices, conceiving that every regular user would have an opportunity to participate in mining.
As Bitcoin gained momentum, and mining became a profitable endeavor, miners realized that graphic cards (GPUs) are a much better alternative to CPUs. They had higher hash rates and were more suitable for efficient Bitcoin mining. However, they hadn’t been specifically created for mining. The industry was lacking single-purpose mining equipment that would optimize the process. That’s when ASICs, or Application Specific Integrated Circuits, took the stage. They are capable of generating staggering hash rates compared to CPUs.
Now, let’s talk about the best ASICs available for miners, their characteristics, and pros and cons.
Best Bitcoin Mining Hardware
Here are the most popular Bitcoin mining rigs on the market at the moment.
Bitmain Antminer S9
We will start with Antminer S9, one of the flagship models of a well-known mining equipment brand Bitmain. It has an impressive 14 TH per second hash rate, and it’s quite affordable. The 189 microchips are based on 16-nm FinFET technology. This ASIC has a fast processor and an efficient heat removal system. Antminer S9 consumes 1320W of energy and is relatively small and easy to use. It is a popular option for at-home use. The price is around $2000.
Ebang Ebit E10.1
This ASIC is the most powerful mining rig for Bitcoin in 2020. Along with the 18 TH per second hash rate, it has DW1228 Samsung 10nm chips, the power consumption of 1650W, and a full automatic cluster management software system that provides intelligent monitoring of mine operating status. Ebit has an excellent cooling system and a cutting-edge processor. It is no cheap equipment, though: you can buy it online for $4800-5000.
Pangolin Whatsminer M3X
Moving on, Pangolin Whatsminer M3X is a perfectly balanced option for those who are looking for good power output, decent price, and adequate energy consumption at the same time. It provides 12-13 TH per second and consumes 1800-2100W. Whatsminer M3X is much lighter and more space-saving than other ASICs similar in terms of hash rate. It has 28-nm chips, but its cooling system is far from perfect: Whatsminer can get pretty hot very quickly. Overall it is an excellent rig for semi-professional miners that can easily bring profit if used properly.
Halong Mining DragonMint T1
DragonMintT1 is the newest mining rig from the Chinese tech company Halong Mining. It is quite an impressive example of a mid-segment ASIC. DragonMint T1 carries 189 integrated circuits, two powerful cooling fans, and boasts a 16 TH per second hash rate. It produces only 75dB, which is surprisingly quiet compared to other rigs. You can find it online for around $2000. Most miners agree that DragonMint T1 as good as guarantees a positive ROI.
Canaan AvalonMiner 841
Now let’s talk about AvalonMiner 841, a new development of a well-known mining equipment company Canaan. The model offers top quality materials and an efficient heat removal system, providing 13-14.3 TH per second hash rate. It has 104 type A3210 16-nm microchips and consumes 1290W. Interestingly, one can connect up to five miners to AvalonMiner 841 using a special Avalon controller and a USB-converter. Experts call Canaan AvalonMiner 841 a strong competition to Bitmain mining equipment, which is currently believed to dominate the market.
Bitmain Antminer R4
Last but not least, Antminer R4 is almost as efficient as Antminer S9, just a bit more modest. It has 8.7 TH per second hash rate and consumes only 845W. Compared to its elder brother, Antminer R4 is larger, but a great deal less noisy with 52dB noise level. 126 integrated 16-nm microchips BM1387 are installed on its frame. It looks slightly bulky and awkward but does the job perfectly.
Bitcoin mining requires a set of hardware equipment and some technical preparation. The market of minings machines is rapidly changing, and every year new models appear. However, there are several renowned companies that produce mining equipment, like Bitmain, Halong Mining, Canaan, Pangolin, and others.
This year the top Bitcoin mining devices shortlist includes six machines. The most powerful of them is Ebang with a staggering 18 TH per second hash rate, followed by DragonMint T1 (16 TH per second). Antminer S9 and AvalonMiner 841 both give 13-14 TH per second, while Whatminer M3X has 12-13 TH per second hash rate. At the bottom of the list in terms of hash power is Antminer R4, with 8.7 TH per second.
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.