To stay ahead of the game, Bitcoin miners are expected to choose the most efficient ASIC miner to help them get the highest profit. Thus, let’s see how to choose the best ASIC miner for your crypto activity.
What Is an ASIC?
The Application-Specific Integrated Circuit (shortly ASIC) was first introduced in the crypto industry by Bitmain Technologies. This computerized hardware is designed for the sole purpose of mining cryptocurrency, meaning they are faster and use less energy than previous products. ASICs are usually developed to mine a particular type of crypto and a specific algorithm.
Using an ASIC miner is an effective way to generate profits within a short period. While building an ASIC miner is costly and complicated, their speed neutralizes this disadvantage. All ASICs are much faster than GPUs and CPUs. The most recent ASIC solves a Terahash, equivalent to a trillion complex equations with at least 29.5 joules.
Bitmain’s ASIC Antiminer series is considered the best in the industry in terms of productivity. Their power consumption stands at 3250W and can produce an outstanding 110 trillion hashes every second. However, its price is slightly above $2,000, which could be quite steep for beginners.
What is ASIC Mining?
ASIC mining is the process where crypto miners use dedicated hardware (ASIC computers) to mine crypto. ASIC computers are expected to solve complex mathematical equations to mine a block of crypto. Through ASIC mining, a user receives crypto rewards for validating transactions on a specific blockchain.
The Proof of Work mechanism ensures that a transaction block will only be added to the chain once validated and verified. This process is conducted after a mathematical equation has been solved successfully. During the PoW process, the miners are chosen based on the computational power they provide for mining a specific cryptocurrency.
Most Profitable ASICs
Antminer S19 XP
The Antiminer S19 XP has been designed specifically for Bitcoin and other SHA-256 cryptos. This equipment costs around $18,000 and is currently the most profitable for those mining crypto with the SHA-256 algorithm. This hardware was manufactured by Bitmain and was released in July 2022.
Weighing 14.5kg, the Antiminer S19 XP has a hashrate of 140Th and consumes up to 3,010W. It has an efficiency rate of 0.022j/Gh with an estimated profit of up to $2.46/day.
Bitmain Antminer L7
The Bitmain Antiminer L7 has been designed to mine Litecoin, Dodge, and other Script cryptos. This hardware has also been manufactured by Bitmain and was released in November 2021. The Antiminer L7 is powerful hardware and a heavy consumer compared to the Antiminer S19 XP.
Weighing up to 15kgs, the L7 has a hashrate of 9.5Gh/s and a power consumption capability of 3,425W. Its efficiency levels stand at 0.361j/Mh, allowing its user to make a profit of at least $14.27/day. To purchase this machine, you will have to pay at least $18,500.
Bitmain Antiminer D7
This hardware has been designed to mine the Dash cryptocurrency and all other cryptos that use the X11 algorithm.
With a price of $13,900, Dash miners can enjoy an efficiency rate of 2.448j/Gh, earning a profit of $6.23/day. The Antiminer D7 is also a product of Bitmain and remains one of its most powerful products. It has a hashrate of 1.286Th/s with a power consumption of 3,148W.
Godshell KD Max
Godshell KD Max is a great product for those who want to mine crypto, but cannot invest $10,000. With an average price of $8,000, the ASIC miner has a maximum hashrate of 40.2Th/s, with a power consumption of 3,350W. Godshell KD Max is designed to work with the Kadena algorithm and can have a maximum profitability of $8.00/day.
Developed by Godshell, the KD6 model is working with the Kadena algorithm and can be purchased for approximately $5,500. With a power consumption of 2,630W and an efficiency of 0.088j/Gh, Godshell KD6 can have a profitability of $5.45/day.
Pros and Cons of ASIC Miners
Pros of Using ASIC Miners
ASIC miners deliver several benefits compared to GPUs, including fantastic performance and high computation power.
ASIC miners focus on mining just one type of digital currency, making it easier for users to maintain effective, consistent performance. There’s no need to optimize the system for multiple cryptocurrencies.
The devices are standalone and only need to be connected to a computer with an internet connection to start mining. Unlike GPUs and CPUs, they require no motherboard or CPU cooling to work effectively.
Highly energy efficient
ASICs are highly energy efficient and some versions are small enough that they use only a few hundred watts of power.
Downsides of Using ASIC Miners
While they are much more effective than GPUs and CPUs, ASIC miners have their share of downsides. It is widely known that some cryptocurrencies have banned ASIC miners due to their enormous energy consumption.
They only mine one cryptocurrency
This provision doesn’t favor crypto enthusiasts who want to mine multiple cryptocurrencies, such as Bitcoin and Ethereum.
They make the market more centralized
ASIC miners bring a certain amount of centralization into the crypto market. Considering their high prices, only dedicated crypto enthusiasts are willing to make such an investment, which makes the market revolve just around a few users.
ASIC mining is the next-generation technology for worldwide crypto enthusiasts. Compared to CPUs or GPUs, ASICs are much more effective and consume less power.
When choosing the most profitable ASIC miner, users should consider several factors, including the cryptocurrency in question and the type of hardware needed.
In some cases, the more expensive models can bring bigger profits, yet in others, the difference can be compensated by buying more units.