While the Bitcoin has completely dominated the cryptocurrency market this year, the art of mining this profitable cryptocurrency has become quite a feat. For mining it profitably would require you to have cheap electricity, an efficient bitcoin mining machine and get the best Bitcoin mining hardware.
And with China’s supply of cheap electricity, has allowed the Giant to dominate the mining market. Hence it has to be made clear that Bitcoin mining is a very competitive market, hence if you want bitcoin, you are better off buying them.
Nevertheless, still for those who can’t go out and buy, we bring to you a list of hardware best for mining the bitcoin. But the condition of cheap electricity remains.
The art of mining has drastically changed since 2009. Initially, miners used their central processing unit (CPU) to mine, but soon this wasn’t fast enough and it bogged down the system resources of the host computer. Miners quickly moved on to using the graphical processing unit (GPU) in computer graphics cards because they were able to hash data 50 to 100 times faster and consumed much less power per unit of work.
During the end of 2011, a new industry sprang up with custom equipment that pushed the performance standards even higher. The first wave of these specially bitcoin mining devices were based on field-programmable gate array (FPGA) processors and attached to computers using a convenient USB connection.
FPGA miners used much less power than CPU’s or GPU’s and made concentrated mining farms possible for the first time. Yet today the ASIC (Application-specific integrated circuit) miners have completely dominated. They work at stupendous speeds and at the same time consume much less power.
Based on power consumption, efficiency, hash rate and price following is a list of the best Bitcoin miners out there in the market;
Antminer S9
With the purchase cost of about $1310 direct, ($5,497 on Amazon), the amazing power usage of about 1372W and the hash-rate of 14TH/s, Antminer S9 makes it to the top of our list for the best Bitcoin miner.
The most advanced and most efficient Bitcoin miner today; if you’re serious about Bitcoin mining this is your rig. But since this miner just came out it’s possible that Bitcoin mining difficulty will now increase even more. At the current difficulty this miner can mine around 0.5 Bitcoins every month which makes it seem pretty profitable. However we did not take into account the electricity costs, pool fees and hardware cost.
Optimistic yearly income: $11,792 (US)
Skeptical yearly income: $5,317 (US)
So if you really need to mine all that Bitcoin with minimum of electricity cost, there is nothing better in the market.
Antminer T9
With the purchase cost of about $1250 direct, the power usage of 1576W and hash-rate of 12.5TH/s Antminer T9 is second on the list and the very reliable competitor to the Antminer S9.
Optimistic yearly income: $10,159 (US), $9,055 (UK)
Skeptical yearly income: $4,379 (US), $3,274 (UK)
Can’t find Antminer S9, or find it a bit heavy on the pocket, Antminer T9 has got your back.
Antminer R4 (designed for home use)
For a purchase cost of $1132 direct ($5,000 on Amazon), the power usage of 845W, and a hash-rate of 8.7TH/s, Antminer R4 is another good option for mining Bitcoin in an efficient way. A bit quitter than its competitors, it is specifically designed for home use.
Optimistic yearly income: $7,336 (US), $6,744 (UK)
Skeptical yearly income: $3,312 (US), $2,720 (UK)
Antminer S7 (predecessor to the S9)
With a purchase cost of $440 direct ($1,205 on Amazon), the power usage of 1300W and a hash-rate of about 4.7TH/s S7 in the Antminer series is a good option too for the mining of Bitcoin.
The Antminer S7 was the reigning champion up until a few months ago. Even at today’s difficulty levels and with the block reward halving you can still make 0.15BTC a month. It’s not a lot at the moment but if the Bitcoin price continues to rise it may be a profitable investment.
The price is good and so is the hash rate, making it a decent choice for the purpose.
Optimistic yearly income: $3,076 (US), $2,165 (UK)
Skeptical yearly income: $903 (US), -$8 (UK)
Avalon6
With a purchase price of about $499.95 direct, the power usage of about 1100W and a decent hash-rate of about 3.5 TH/s, Avalon is a handy choice for the purpose.
The Avalon6 is a great contender for both S5 and S7 Antminers. From the small amount of reviews that can be found online people are saying that it’s not nearly as loud as your usual miner and the hash rate is pretty reasonable.
Comparing the Bitcoin Miners
The comparison based on which the above list was compiled, keeps n view the price, hash rate and the efficiency. Using these parameters to compare and bring forth the best of the best.
Hash rate: How many hashes per second can the Bitcoin miner make? More hashes cost more, which is why efficiency is crucial here.
Price: How much does the bitcoin miner cost? Cheap mining hardware will mine less bitcoins, which is why efficiency and electricity usage are important. The fastest and more efficient mining hardware is going to cost more.
Efficiency: You’ll want to buy the most efficient bitcoin mining hardware possible. Since miners use a large amount of electricity, you want to buy one that converts the most amount of electricity into bitcoins.
So don’t just outright jump to buy the cheapest or the most efficient, see all these factors through and choose the one to suit your pocket and requirements.
This brings us to the end of the discussion, we hope with the provided facts, your choice to buy the bitcoin miner becomes easy peasy lemon squeezy and gives you tenfold returns. But be careful before you plunge into this messy business of mining Bitcoin, for with the ever increasing competition in the monetary market, things will likely become dirty. Stay tuned for more updates on the cryptocurrency.
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