Purchasing guide: How to choose the best ASIC mining hardware in 2022
What Is ASIC Mining Hardware?
An application-specific integrated circuit (ASIC) miner is a device that is designed for the sole purpose of mining a particular digital currency. The ASIC miners are designed to mine using that specific algorithm. This means that a Bitcoin ASIC miner can only mine B ASICs are superior because theyare able to solve the blocks faster and have a better efficiency than CPUs, and GPUs.
Nowadays, mining crypto becomes more and more popular around the world. Also, the more and more organizations or even governments acknowledge the cryptocurrencies. With the recognition and support of these entities, the value of cryptocurrencies continues to increase.Therefore, how to choose a best crypto mining hardware and how to choose a right supplier or vendor become a important topic to all miners, especially for the beginner.
In this article you will learn six important factors that help you choose the best crypto miners. Besides, we will share some methods to teach you how to choose a supplier or vendor. Please note that the following discussion will be mainly based on the ASIC mining hardware here. If you are interested in GPU miners, please leave a comment below to us and then we will consider to make another article to discuss them.
It’s no secret that Bitcoin is the world’s most popular cryptocurrency so far. As more and more people are getting involved in the crypto market, Bitcoin mining is becoming a competitive industry. Of course, most of people are thinking to mine the BTC when they first consider to choosing a mining device. That’s reasonable however there are other options too. In the article, we will also talk about the different crypto.
At the time of Bitcoin launch, it was mined on CPUs of laptop or desktop computer. However, as the mining difficulty increased, its miners turned to graphic cards (GPU) to get more hashing power. GPU mining hardware were used for many years before the launch of ASICs (Application Specific Integrated Circuits). With the mining difficulty increased, people started using ASICs to mine coins. The introduction of ASIC made the mining industry progress rapidly and at the same time, it also raised the hashing power to a new level.
How to Choose the best Crypto Miner
When it comes to purchasing the best Crypto miner, you need to consider a several important factors, as well as your individual circumstances. The most important considerations are the safety of cryptocurrency you mined and if it is worth more than what you spend on hardware and electricity. Because, today there are too many crypto out there and it’s difficult to determine if they are safe enough to mine, especially the newest released coins so choosing a right coin is the first thing you should consider. In addition, however, for individual miners, the initial investment of ASIC can be quite pricey therefore the payback and ROI should also come to your mind when you are making decision. Don’t worry, we will explain all these to you in the following content:
1. Safety of the crypto
Did you ever think about if a coin you mined disappears suddenly or its price goes down to zero? Yes, it happened before so this is a extremely important factor that you must consider at the beginning.
Here is our advice：
- If you are familiar with the cryptocurrency industry then you can find a new cryptocurrency to mine and enjoy the profitable crypto mining in the early stage of the coin. When a new coin come to the market, it may attract the attention of old players. Plus the publisher must advertise its own coin at the early stage probably there will be a short-term rise in price. Or you can select a small coins but with high profitability to mine, like KDA in 2021. However, these can be risky as you need extensive industry knowledge to help you judge whether new coin is a scam or whether the small coin is worthy. Generally, we would recommend most clients to mine the coins are famous and recognized by the market.
- If you are not familiar with the industry, it is better that you choose the most recognized and famous coins to start, such as Bitcoin, Ethereum, Ethereum Classic and Litecoin&Doge. These coins were launched for many years and they are most recognized by miners so the safety level of these coins are related higher. You don’t need to worry about getting scammed.
- Which model do we recommend to mine these coins:
After you decided which coin to mine, then the next step is to consider which hashrate to choose since the hashing power level will determine the profitability. Basically, the higher hashing power the higher daily profit. However, the higher hashrate means the higher price. The hashrate usually expresses in Mh/s, Gh/s and Th/s. (1000M = 1G, 1000G = 1T)
Here is our advice:
You should check the current block difficulty of the crypto you want to mine and then decide which hashrate you should choose. Make sure you don’t choose the machines that has no profit or even the profit cannot cover the your electricity fees.
Your budget also plays a vital role in the selection. Before settling on the best mining device, make sure to consider the maximum amount you can afford to spend on the machine and other expenditures. You should buy a cryptominer according to your budget. For example, if you have enough budget, let’s say mining Bitcoin, then you should go for the latest model, like Antminer S19 pro 110T or Whatsminer M30S 110T. You can also contact minerbases.com to have free mining consultation. We have a team of professional sales representatives and engineers to guide our clients.
4. Mining Environment
On the other hand, the mining environment is also important factor because it can affect the ASIC miner performance. The worse ventilation conditions will cause to lower the hashing power due to the higher environment temperature. It’s similar to the situation of computers or smart phones, the performance of the CPU will goes down when the temperature is high. Therefore, your selection should take into account where you’re going to mine.
If you want to mine at home, for example, then it’s better to choose the mute models, such as Goldshell KD Box pro. These models are quite and with lower hashing power and don’t generate much heat and noise so you don’t need to worry about the noise level and ventilation condition. However, if you mine at the mining farm, then you can consider the big machines with higher hashrate and noise. Generally, mining farms come with good ventilation condition and are usually built in the remote area where not many people lives there so the noise won’t be a issue.
(Example of good ventilation. Picture from Bloomberg)
Another important factor to look into when selecting the best ASIC miner is electricity consumption. Unless you have no electricity fees, the cost to power a ASIC mining rig can significantly impact your profit. The cost of electricity varies in different places. Remember that in most circumstance you should choose a machine where the profit exceeds the costs of electricity. For us, we don’t actually recommend models that are too old to our clients because they has no profit at all. Want to know the real time profitability? Please refer to this site, ‘Whattomine’.
The top ASIC miners have higher hashrate which increases your chance for a bigger reward. Although a high hash rate is crucial, efficiency is just as important. The best crypto miner uses energy efficiently so that you have to pay less in electricity costs per hash. The efficiency calculation is easy, just using the hashrate divide the power on wall (watt).
Of course, as technology evolves, the latest models will be more efficient. If you have the budget, it is better to upgrade to the latest machine as you can enjoy higher daily profits.
In conclusion, the six factors above are the major things you should consider when you choose a ASIC mining hardware. They are interrelated so You should consider all factors and make a final decision.
If you have further questions, please feel free to contact our customer service. Our experts are always here to help