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Bitcoin mining.

Started by Bitcoin, Feb 14, 2021, 08:32 am

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Bitcoin

Note that while each halving cuts miners' reward in half, the increase in demand that results may lead to Bitcoin's price rising, keeping mining profitable.
2. Frequently Asked Questions.
How Do I Start Mining Bitcoin?
Get a Bitcoin miner Join a mining pool Install a mining software Start mining.
How Many Bitcoins Can You Mine in a Day?
In June of 2019, if you use the Antminer S17 Pro (56 TH/s, 2212 Watts) with an electricity cost of $0.12/Kw you can mine 0.00188769 Bitcoin in one day. However this calculation might be outdated when you read this as Bitcoin's difficulty changes every two weeks. It's best to run a new calculation before starting to mine with updated stats.
How long does it take to mine a Bitcoin?
Assuming you're using the Antminer S17 on June 2019 it would take 531 days to mine a full Bitcoin with the Antminer S17. However this calculation might be outdated when you read this as Bitcoin's difficulty changes every two weeks. It's best to run a new calculation before starting to mine with updated stats.
It's still possible to make a profit from Bitcoin mining if you have the right hardware and low enough electricity costs. However, today mining as a hobby is almost non-existent due to the fierce competition in this field. If you're serious about mining you should conduct ample research before buying your first miner.
Also, remember that revenue is NOT profit. You have to take into account additional mining expenses or missing expenses that weren't entered into the calculator. (e.g. the cost of your mining hardware or the electricity it takes to run it and cool it down if necessary).
3. Conclusion: A Bitcoin mining Calculator Predicts the Future.
To conclude, a Bitcoin mining calculator can give you a much better idea about your potential to run a profitable mining operation. Remember, however, that some factors such as Bitcoin's price and mining difficulty, change every day and can have dramatic effects on profitability, so it's important to conduct up to date calculations when needed.
If you have additional comments or questions feel free to leave them on the comment section below.
Bitcoin mining Calculator & Profitability Calculator.
Bitcoin (BTC) Mining Calculator is a simple calculator which can be used to calculate profitability or number of bitcoins can be generated using specific Bitcoin mining hardware. To use the same you will need the configuration of your mining hardware and the electricity price in the area you are going to setup the Bitcoin mining rig.
How does Bitcoin (BTC) Mining Calculator Works?
This Bitcoin mining calculator will help you predict the amount of profit that you will be making based on the various factors that influence the mining operation. It works on a simple principle. Takes the input value of your mining hardware feeds it into the Bitcoin mining Algorithm does the calculation and predicts the profit/revenue or you can no of bitcoin generated and profitability of the same.
Here's a look at how our mining calculator works:
Basically, you first need to consider the Hash Rate of your miner - the higher the hash rate , the faster it can mine for Bitcoins. Hash Rate is usually measured in GH/s (GigaHashes per Second).
Next, you need to enter the amount of power (in terms of Watts) that your mining device consumes.
After that, the price of the power is considered - the price at which you get electricity. The lower the price of electricity, the more profitable your Bitcoin mining operation is.
Pool fees percentage is also considered in this - most Bitcoin mining pools charge a small fee. After deducting that percentage of the fees, you can get a better, clearer picture of the profitability of your mining.
Mining difficulty is also considered as a factor. Ever since the Bitcoin network went live, mining difficulty has been constantly increasing - the higher the difficulty, the harder it is for miners to mine for Bitcoin.
Another crucial factor here is the block reward - basically, the number of Bitcoins released upon solving a block: this number keeps reducing by 50% every four years. The current block reward is 12.5 BTC per block, which will reduce to 6.25 BTC per block in May 2020.
Finally, the Bitcoin price is also taken into account: which has a major impact on Bitcoin mining profits. The higher the price of BTC, the more profitable your mining operation is. Also, you can see the Bitcoin Price Prediction calculate.
When you enter all these factors into the Bitcoin mining calculator, the profitability of the mining operation is determined. The mining calculator shows you your profits on an hourly, daily, weekly, monthly and yearly basis.
The Need for a Bitcoin mining Calculator.
Mining is much more than just something that you do to gain Bitcoins. It is a proper investment and it requires a detailed thought process behind it. No investment is usually made without keeping the profitability in mind - and Bitcoin mining Calculators help you determine the profitability of your mining operations.
Considering that in the world of cryptocurrency, everything is so dynamic - one always needs to keep a track of their progress - and how profitable their mining operations continue to be. Sometimes, these 'dynamic changes' can be internal - such as an increasing mining difficulty or a drop in the block reward. However, there can be some external changes too - such as the cost of electricity or a change in the pool fees percentage.
Keeping all these factors in mind is essential and any change in any of these factors would change the profitability of your mining operations. The most important factor, however, continues to be the price of Bitcoin. The higher the price of Bitcoin goes, the more profitable a mining operation becomes and the lower it falls, the profits fall along with it.
Hence, a Bitcoin mining Calculator helps you check at all the times about how profitable your operation is, keeping all the other factors in consideration. You can pause or resume your mining operations on the basis of the profitability - to ensure that you are not making any losses while mining.



Bitcoin

Bitcoin's Price Volatility.
The biggest factor that determines your Bitcoin mining operation is the price of Bitcoin itself. Anyone who invests in Bitcoins must know about the price volatility. Bitcoin, which went from $950 to $19,500 in 2017 - has been on a major downtrend in 2018. However, the potential to bounce back is immense.
The price of Bitcoin can be the make-or-break factor for all mining operations. When the price rises, mining operations can provide extremely high returns. However, when the price declines, the profitability of the Bitcoin mining operation to goes down.
To understand Bitcoin's price volatility, one has to understand some basic economic concepts: that of demand and supply. When the demand for Bitcoin rises, people begin to buy it in large numbers - and the more Bitcoin is purchased, the higher the price rises. This is because there are only a limited number of Bitcoins in circulation - the lesser Bitcoins remain in circulation, the higher the price would be. However, when people begin to sell their Bitcoins - and the Bitcoins in circulation rise, the price of the currency falls because of abundance. The lesser the supply the greater the price of the currency.
Moreover, there are a number of other reasons which can result in Bitcoin's price fluctuations. Sometimes, government actions such as China banning cryptocurrency exchanges or Korea launching a probe in crypto exchanges in the nation result in price crashes. Other times, it might be an external malicious force such as a group of hackers who break into an exchange, stealing cryptocurrencies. These kinds of events lead to a fall in the price.
Every time there's a major fluctuation in the Bitcoin prices, miners need to check the impact of the change of prices on their profitability using a Bitcoin mining Calculator. Our Bitcoin mining calculator automatically grabs the latest Bitcoin price to ensure that you are shown the latest results based on the current price of Bitcoin.
How can the Bitcoin (BTC) mining profitability be calculated? - Factors That Influence Your Bitcoin mining Profits.
There are a number of factors that influence your Bitcoin mining profitability: while the most basic factor, as we have discussed above in detail - is the price of the Bitcoin itself, there are also a number of other factors that need to be considered before you begin your mining operations. Let us take a look at three main factors which affect mining profitability.
Investment into the mining setup: One factor that many people tend to miss out is the investment that they make on the mining setup. Bitcoin mining is not a cheap affair and it often requires thousands of dollars to set up a proper mining rig with multiple ASIC miners. It often takes miners months or even years to break even on that initial investment that they put in, after which it is all profit. A Bitcoin mining calculator can be used to check the amount of time it would take you to break even given that conditions remain static.
Cost of Power: Bitcoin mining operations tend to consume a large amount of electricity. Hence, the cost of power has a major role to play here - the higher the cost of the power, the higher would the cost of the mining operation be. This is the reason a number of Bitcoin mining operators are choosing locations with cheap power for their mining operations.
Block Rewards: Considering that block rewards reduce by 50% every four years - your profits would significantly reduce when this happens in 2020. However, the logic behind this is that with every drop, the price of Bitcoins too would increase as they would become an even more scarce resource - hence neutralizing the reduction in quantity.
Conclusion: Before setting mining farm it is advisable to use Bitcoin mining Calculators to calculate the profitability of the same.
Bitcoin mining calculators are not just a one-time tool - they are a constant support that Bitcoin miners need. With any change to any of the factors - the price of Bitcoin, the price of electricity, or the difficulty/rewards, miners need to know the impact it will have on their mining process. Our Bitcoin mining calculator shows an exact breakdown of how each price influences the profits.
Disclosure: The Profit Details are the result of a chosen budget of $ 10,000.00 to purchase Bitcoin mining servers that are hashing 76 TH/s at a price of $ 25 per terahash. This assumes a total hashrate of 400.00 . The Profit Details also take in consideration the current network hash rate of 1.7596801059571E13 and current BTC/USD exchange rate of 1 BTC = $ 18,743.69 . These figures vary based on the total network hash rate and on the BTC to USD conversion rate. Block reward is fixed at 6.25 BTC. The Profit Details do not take into account any future changes in block rewards, hashrate and difficulty rate. All inputs in this calculator vary over time. The profit details is based on current values only and should be used as a guide only.


Bitcoin

3 Best Bitcoin mining Hardware ASICs for 2019-2020 - Reviews & Comparison.
Some see the mining of bitcoin as a hobby. Others see in this lesson a profitable business or a way to get profit. To evaluate the profitability of miner hardware, you need to compare the cost of electricity, device and some fees. Sometimes it turns out that to buy coins is more profitable. We will cover all this in more detail in this review.
ASIC stands for the application-specific integrated circuit. These schemes do not perform general functions but act only in a strict framework to solve a specific problem. Therefore, to mine the Bitcoin through ASICs is chip then using another Bitcoin mining hardware.
ASIC Bitcoin Miner.
Initially, crypto enthusiasts could receive Bitcoin with computer help. Mining is the award of aggregate mathematical problems using specialized powerful miners hardware and software.
Then they started to use graphic processors and FPGA (field-programmable gate array), but soon they also ceased to be quite useful. ASIC miner is the best bitcoin miner of the latest generation. It provides a higher cryptocurrency mining speed, the machine heats less and consumes less electricity.
You can try mining through the computer, but only as a hobby or to understand how this process occurs. The hash power (computing power) and the hash rate of conventional computers are significantly lower (about 40-50 times) than mining rig.
Best miners should be profitable. New machines should cover the prices you pay for them. Moreover, the Bitcoins received must have more high values ​​than the electricity spent on their production.
Estimated Electricity Cost Of Mining One Bitcoin By Country.
To calculate the worth of all factors, you need to make a comparison. The difficulty is that the value of BTC is continuously changing. Before you buy mining rigs, make a simple calculator:
Hashing rate; A bitcoin sale price; Power consumption; How much USD a participant needs to pay per month for current; The number of coins you get per month.
To choose the best Bitcoin mining chip, first, a client should to find out which is the most powerful of the miners accessible. Best Bitcoin mining hardware has the following features:
The evolution of bitcoin chips Most significant hash rate will permit to get more currency. Effectiveness is expressed in how much electricity is required to get a certain sum of coins. Currently, the most effective is the ASIC mining hardware. The price of the fastest equipment cannot be low or average. The lower the cost, the smaller the efficiency (you may even go negative). Beware of scam on the mart. Trusted manufacturers can be sold on eBay or Amazon. But before buying, check all the details about graphics and setup.
Even a used hash miner may be beneficial to you. Check out ASIC Bitcoin miners such as Dragonmint miner or The Antminer S9.
DragonMint B29 and Antminer S9.
In addition to high speed, manufacturers must provide a low hash price. It means that the performance of the facility will be high.
Here are reliable brands to watch out for.
This brand is created in China and produces reliable Bitcoin ASIC chips. The most popular among devices is Bitmain Antminer. The equipment of this brand is capable of mining coins of Bitcoin, Litecoin, Ethereum and Dash. Besides, the company owns one of the greatest Bitcoin pool.
It is a famous Chinese apparatus brand that started with FPGA. As technology stepped forward, the company released its own ASIC chip. The market share held by the brand is about 20%.
Halong Mining.
Halong Mining collaborates with Samsung brand from South Korea. The company entered the market only in 2018 but has already become a leader in this industry. Halong Mining produces the most powerful Bitcoin miner ASIC to date, called DragonMint T1.
The international company has branches in the USA and China. The brand specializes in diverse digital technology. The brand is currently releasing one of the best ASIC Bitcoin mining hardware called Terminator T3.
GMO Internet is a Japanese brand. The company is engaged not only in the production of cryptocurrency equipment but also in advertising and financial services via the Internet. The brand even has its projects among crypto exchanges working on the blockchain (such as Coinbase).
The abbreviated name sounds like Ebang. The main field of activity of the company is the creation and sale of optical fiber for telecommunications. The latest ASICs mining equipment is one of the best using ASICs and competes with Bitmain.
Bitfury is one of the first companies to start producing Bitcoin miners. Bitfury themselves mine coins on their equipment. Large data centers are located in Canada, Norway, Iceland, Georgia. The range includes ASIC mining chips, servers, and portable data centers.
Bitcoin USB Miners Comparison.
USB miner is not high-performance equipment. This type of device only helps you understand the principle of coin mining. Besides, USB mining equipment is cheaper.
ASICMiner Block Erupter USB 330MH / s Sapphire Miner.
There is the standard option among USB Bitcoin miners. The expected profit is only $ 0.01 per month. At the same time, the hash power is 330mh/s-336mh/s.
GekkoScience Compac USB Stick Bitcoin Miner.
The device works simply through the connected USB port, absolutely silently. At the same time, your profit will be approximately 0.15 USD per month.
Avalon Nano 3.
Do not confuse this device with the crypto wallet Ledger Nano. Both devices look about the same, but they have entirely different functions. A wallet keeps your coins. While Avalon Nano 3 allows you to get Bitcoins for 1 USD per year.
Bitmain Antrouter R1 Wifi Solo Bitcoin Miner.
Your production will be a little more than 1 USD per year. Even with the low price of equipment, it does not look too cost-effective. But this device has an additional plus. It also operates as a wireless router, providing you with wireless Internet.
21 Bitcoin Computer.
There is not the most efficient USB bitcoin miner. It connects via a standard USB port. But under the current circumstances, you are unlikely to be able to count on profit in virtue of the poor hash rate.
Dragonmint T16 vs. Antminer s9.
In 2019, the most efficient Bitcoin miner is Dragonmint T16. The manufacturer supplied a 16 t / s machine. No other equipment can boast such an indicator.
Using Dragonmint T16, you also save energy. The user needs only 0.075 J / GH. While the Bitmain Antminer S9 consumes 0.098 J / GH.
And another Dragonmint T16 bonus is the ASICBOOST algorithm, which increases the effectiveness by 20%.
Now comparing electricity consumption, din seems like a slight advantage. But if you intend to mine coins in pro volumes, you will feel the savings. Returns to the price of electricity. Even if it is high, both ASICs Bitcoin installations will bring you profit.
Bitmain Antminer S7.
The first release of Antminer S7 came in 2015. Those days, it was the most effective equipment. The BM1385 ASIC chip and two cooling fans are integrated into the metal case. The manufacturer recommends the additional use of a 1600 W power supply.
The hash rate is 4.73 TH / s; Efficiency is about 0.25 J / G / s; Equipment is in the middle price category; There are many instructions on working with Antminer S7 available on the market; Easy to buy spare parts if necessary.
Antminer S7 is less capable than the modern AntMiner S9; High energy costs await you; To achieve stable results, you need an additional power supply; Noise during operation exceeds the average.
Currently, even if the user does not takes into account the worth of the device, but only the cost of electricity, he receives losses. Perhaps if the value of Bitcoin increases significantly, this equipment could be a bargain.
Bitmain Antminer S5.
The equipment, emitted in 2014, loses much in power to modern devices. Antminer S5 consumes only 590 W and does not require an additional energy production. The device is possible to connect to a PC. Using only this mechanism, you will not get coins. The user needs special software and membership in a large Bitcoin pool.
Low cost of the device; Low power consumption (respectively, petty bills for payment); Antminer S5 is easy to configure and suitable for newbies.
The sound from the exploitation of the device is above average; There is only one cooling fan; Low hash rate.
Even in the case of a sharp jump in the cost of Bitcoin, you are unlikely to get positive results. Installation is only suitable for training.
Spondoolies SP20.
The brand was first introduced in 2014. In those conditions, this device was cost-effective. But already in 2016, it was discontinued. The device has compact dimensions and a metal case. If someone likes rarity, he may find this miner on eBay for more than $ 100.

Bitcoin

The miner works with any power supplies; The device is one of the cheapest among analogs; It is possible to connect two low-power reserves; A working device emits little noise; Even a novice can easily configure a simple user interface.
The device has a low hash rate compared to modern standards (accordingly, efficiency suffers); During operation, the case becomes very hot; SP20 connects only via Ethernet; The miner may only be operated at ambient temperatures under 35 ° C.
In general, the installation provides extremely low profitability in 2019. For a year you will not get even 1 USD.
Dragonmint 16T.
Halong Mining announced during the announcement of DragonMint 16T in 2018 that about $ 30 million was spent on research and testing. These efforts did not become in vain, because today, this miner is the most powerful and profitable among competitors.
The hash rate was 16 thousand UD / s. The introduction of ASICBOOST technology (a fragment of the Bitcoin software code) has increased the efficiency by an additional 20%.
Test launches have confirmed that the miner is developing the declared speed and is highly efficient; It is possible to work with a standard voltage of 220-240V; You will get the lowest possible energy consumption from all available options. You can buy both one device and several at a time. There are no restrictions on the volume of the party.
The price is too high for an ordinary crypto enthusiast; To start, the user needs to additionally purchase a branded power supply unit (also not very cheap); Power consumption varies depending on the used power supply; The device may work at full strength only in conjunction with the original power supply.
The average projected income from the use of one installation is about 1.5 thousand USD.
Best Bitcoin Miners for 2019-2020.
Given a great number of mining facilities, we understand how difficult it is to opt for any one installation. The buyer needs to focus primarily on high efficiency (and, of course, the price he can afford to pay for equipment). But consider the cost of paying for electricity. In most cases, you will lose half of your income or so to cover your bills.
In this review, we will look at the three most popular and cost-effective options.
Antminer s17.
The product release came at the beginning of 2019. It is the flagship model of Bitmain. The capacity is 62 thousand tons / s. At the same time, energy costs are very high and equal to 2790 watts. Two hardware settings are available to you:
Normal; Professional.
You can earn more than 0.06 BTC per month. But, as expected, about half of the profits will be "eaten" by paying for electricity.
EBIT E12 +
The hash rate of this miner is slightly lower than the previous one and is.
50TH / s. However, the required power for starting is lower (2500 W). This combination is very effective in today's market. Having a profit of more than 0.05 BTC per month, you will spend 47% on paying bills.
Innosilicon Terminator T3.
Of all three samples, this is the least powerful, but this does not mean that it is the least lucrative. The hash rate is at the right level and amounts to 43TH / s. The maximum power consumption does not exceed 2100 watts. You can earn more than 0.04 BTC per month. Subtract half for the payment of electricity.
In the article, we mentioned Bitcoin pools several times. It is time to clarify what it is in more detail.
Beginners who are just trying to get coins would not be able to achieve at least some results due to intense competition. Therefore, they have only one way out - this is to combine their efforts. Such an association in the Bitcoin society is called pool.
Even the most modern potent facilities will not provide anyone with the same power as professional data centers, which include many special (expensive) pieces of equipment.
If the pool won the race for coins, all revenue is distributed among the participants in proportion to their contribution. The standard membership fee is 2%. Now several large pools control the situation. Due to a large number of participants, the revenue of each of them will not be as significant as we would like.
For practical mining of Bitcoins, each member needs not only a specialized installation but also additional equipment:
Individual power supplies allow more efficient use of electricity. If the old models of miners could be connected directly to the outlet, then the new top equipment will not even turn on without a particular power source. Cooling fans allow mining units to run smoothly. In the case of overheating, the machine switches off spontaneously. Standby generators are needed to secure the primary source of electricity. Miners Revenue.
People may get significant profit from mining Bitcoins if they have a modern ASIC installation and cheap electricity. The situation changes daily due to the floating rate of all cryptocurrencies.
Today on the market there are only a few advantageous offers among miners. If the price of Bitcoin rises, most likely, more and more new manufacturers will begin to develop and offer their versions of mining installations. And an increase in supply will entail a reduction in prices. Then more players will be able to join the Bitcoin network.
I am a crypto enthusiast. Bitcoin miner in 2013. AERGO Ambassador. I believe that blockchain technology is the future. My goal is to clarify the value of cryptocurrencies and blockchain in a free economy and security. I want to contribute to the implementation of these technologies in people's lives through an explanation of the principles of its work.




Bitcoin

7 Best ASIC Miners 2020: Tried and Tested With Reviews.
Bitmain Antminer S9.
Cryptocurrency is arguably the best gift the 21st century has to offer. It started off a little shaky, but with time, it has grown more and more stable.
For the sake of your future, financial future, it is wise that you start thinking of accumulating Bitcoins. For this, you will first need to understand how they work, how to transact in Bitcoins and above all, how to mine it. The theory and process of Bitcoin mining can be complicated. However, great minds have developed technology that only requires you to understand the basics of Bitcoin and runs all the complex processes in the background.
Part of this new technology includes Bitcoin mining hardware. It is only through the best asic miners that Bitcoins is added to your wallet (unless you buy bitcoins). Different Bitcoin mining hardware features different performance levels. And with the ever-increasing complexity of the Bitcoin mining calculations, you will need to have the best asic miner.
In this piece, we review some of the best Bitcoin mining hardware and shed light on some of the factors to consider in your search of the best mining hardware.
ASIC Miners: What the Heck is it?
A short term for Application Specific Integrated Circuit, ASIC is a circuit that is made for a specific use rather than being used in general. The miners who indulge in ASIC mining are more developed and sophisticated when they are compared to the traditional miners that use the CPU, GPU, and other components. There are some rare Bitcoin ASIC mining chips and they, along with the common ones, can be used on their own when it comes to the subject of mining of the Bitcoin.
When it comes to mining with a greater speed, ASIC miners play a huge role and they are more productive and cost-effective than the traditional Bitcoin miners. Bitcoin mining is effective only when there is a net benefit in regard to productivity and low cost of running. They are high on consuming electricity and there are users who often combine rigs and ASIC chips just to bring the costs even lower.
The ASIC miners are designed to basically work and be co-joined with the mining rigs. The advantage of adding the ASIC chips to the mining rigs is that they make mining the coins with the rigs quite a lot more efficient. The ASIC chips can outperform a stack of GPUs any day. When pit against one another, the ASIC chips hash the transactions 100 times faster than a typical stack of GPUs.
This is because the ASIC chips are the next step in the journey of technology and also, they are more energy efficient, consuming less energy than the GPUs. Analysts predict that the next few years will see the viability of the ASIC chips since there are no such plans or technologies that can replace the chips within the energy frame.
One of the biggest advantage of having an ASIC chip instead of a typical miner is that while other miners are busy waiting for the transactions to be processed, you will be mining the coins at a much higher rate, giving you a strategic advantage over them.
The one thing that might irk you a bit is that since the chips are quite task-specific and are made for the sole purpose of mining bitcoins, the cost to build them can go quite high. While you may want the speed of hashing coins to be high, the time that is required to make a microchip for a task-specific functionality is quite a lot. The first miner that was released using an ASIC chip was made by Bitmain in May 2016 in China.
Even though it was designed to mine the Bitcoin, there were other SHA-256 coins that could be mined with it. It was proven quite vividly that the ASIC chips are better than the FPGAs, GPUs, and CPU combination when it comes to the speed of mining and the hash rate.
ASIC Miner: Common and Popular Brands.
There are many companies which are manufacturing ASIC miners, making the microchips based on the same technologies. A minor tweak here and there differentiates the brands from each other and each one has its own price and features. Here are a few of them that have been rated quite high and are commonly used by the miners around the world:
Bitmain : When it comes to the different Bitcoin mining tools, there is no name that is more resonant than Bitmain. This is the company that was responsible for the Antminer, and over the years, it has become the biggest supplier of all the mining tools that are used by the people around the world. Even though the company mass produces the ASIC miners now, the price has not seen quite an affordable purchase. A typical Bitcoin miner from Bitmain comes at a price of around $1,100.The one interesting thing about Bitmain miners is that they come with a three month warranty. Depending upon the model that you choose, the hash rate of the miner varies from 8 to 14 TH/s. Each model has its own efficiency and depending on that, the profitability of the ASIC miners also varies. There have been reports where users from some batches of the miners have claimed that the miners were quite unstable. Halong Mining : This one started out as a ASIC mining startup, there was no one who could say that Halong Mining equipment could become one of the best in the world. Once the startup was established, Halong Mining launched the Dragonmint T16 miner. This brought quite a lot of recognition to the company and people started to believe that this upcoming startup was going to be the best thing that ever happened to the ASIC mining community . The Halong miner started to compete with the pioneer Bitmain and they have gone head to head, competing for the top spot. Halong Mining has started an advertising campaign to highlight the benefits of the ASIC miner made by them. With the advertisements, the company has made endeavours to create a sense of trust with its customers and credibility.According to the company, millions of dollars went into the development of the Dragonmint T16. The first batch for the miner shipped in March 2020 and there have been no complaints ever since. Running between a voltage of 220V and 240V, the miner consumes 0.075 J/GH, and has a hash rate of around 16 TH/s. Canaan Creative : When it comes to the most stable bitcoin miners, there is no name that is as recognised as that of the Canaan Creative. Within the miner, there is an Avalon controller that can attach up to 4 miners on a single network.While the cost of the miner is quite premium, coming in at around $700, there are users who have claimed that the mining of the Canaan Creative miner is not as efficient as that of the Bitmain miner. If the reports and comments are to be believed, the average hash rate of the miner by Canaan Creative comes in at around 7.3 TH/s. Baikal : Baikal is a name that is known to all, for their work that it is doing in research and development of technology and the microchips since 2008. This was the company that created the SHA-256 algorithm chips back in 2013. They gained quite a lot of experience from the development of the aforementioned chips and they implemented the said experience in the future technologies that they began to develop.There are four product lines from Baikal which are offering quite a lot of products related to technology. These are Giant B, N, x10, and plus. There are other products from the company as well which help in the mining process. These include mining tutorials, customer service, and support after the sales of the products, among a long line of services. Ebang : Combining efficiency with stability, Ebang brings you the ASIC mining chips at a price between $700 and $1,100, depending upon the model that you go for. The mining chips made by Ebang make use of the 14 nm technology and this helps the chips to push out a hash rate from 6.3 to 9 TH/s. GekkoScience : There was a small mining firm in the United States of America that dreamt of making it big. They did so with the company now known as GekkoScience. The company now manufactures USB micro miners having incorporated the existing ASIC chips into their own designs. However, the end results are not always profitable, as is seen by the GekkoScience 2 PAC.
There is a lot of excitement building up because of a tweet by MyRig showing a wafer and claiming that it was produced by the technological giant Samsung. The truth about the claim is not yet confirmed but if it is considered to be based on a solid foundation, there is an oncoming slaught that will change the entire industry. Another rumour is that Samsung has been producing the chips for over a year.
However, the buyer of the chips is still unknown even though there are some people who believe that the chips are sold to Halong Mining for the production of the Dragonmint T1 miner. If Samsung joins the game, it could become the largest producer of the ASIC mining chips since it has considerable resources at its disposal and the price could also see a marginal drop since the chips will be produced at quite a large level to meet the demand.


Bitcoin

ASIC Miners: How do they Work?
There are two different ways in which the ASIC miners are manufactured. They can either be pre-manufactured to work with a specific application or manufactured and then integrated with a custom application.
The typical parts of an ASIC miner are the software for mining, the ASIC chip, a power source, and the fans to keep the system cool. The entire rig consists of the fans, ASIC chips, and the processors among the main components.
If you wish to understand the working of an ASIC miner, you do not have to spend unnecessary money on becoming a mining expert. Instead, you can go for the low-cost tutorials that are available on the internet. Another way that you can opt is to use the USB miners. While they are quite cheap, the hash rate on them is quite low. This is understandable since you are getting what you pay for.
On a typical USB miner costing around $30, you will get an average hash rate of 330 MH/s. The return of investment by using this type of miner is usually around 1% per month. You will want to invest in an ASIC miner if you are planning to build a premium Bitcoin mining hardware.
If you are in the market looking for the best ASIC miner, you will want to go with the Antminer S9, coming with a hash rate of 14 TH/s. This miner uses quite a lot of power and this is why you will need a power source that supplies more than 1275 watts. You can go with either of the two choices, depending upon the type of power that you are choosing:
110V PSUs like the Gold Rated 1000 watt PSU, or 650 watt Power the ASIC Miner.
There are just three simple steps that you have to follow in order to get started. These are as follows:
Using the PCIe cables, connect the PSU with the Antminer S9. This will automatically connect the miner to the Ethernet cable. After this, you will have to turn on the PSU, ensuring that the miner has started working. The last step is to connect your PC to the same network as the miner and you are done.
ASIC Miners: Getting Started.
Before you start building up hardware for Bitcoin mining, there are a few things that you need to consider. There are some people who prefer to set up the mining rigs at their homes but if you are thinking about making a substantial profit, you will have to have a proper setup that is not feasible at homes.
You have to make some tough calculations and get the answers to what you want in profits. You can put in thousands of dollars and then not make a profit if you are not set up with the right equipment. This will just be a waste of your efforts and money and you will end up regretting ever putting your mind to Bitcoin mining.
If you are looking to join the industry and make a profit, you will either have to build up a hardware that is capable of making you profits or purchase one of the pre-built rigs that are available in the market.
There are a few things that you require when you are looking to mine some bitcoins. These include:
An ASIC miner, A software that is going to be compatible with the miner, such as BFGMiner or CGMiner, A Bitcoin mining calculator that will help you determine the number of altcoins that have been mined. This figure will be in cahoots with the power of the ASIC mining gadgets that you have. You can also use an additional fan for a better cooling of the components. A Bitcoin wallet. This will be the wallet where you will be storing the all the coins that have been mined by your setup. You can also use a slush pool as a pool mining account.
The process of mining is quite easy to understand and once you are familiar with it, you will be able to start the process whenever you want once you have the hardware set up.
The first thing that you have to do is to connect your ASIC miner gadget to your PC. After that, you can use the Bitcoin mining calculator to calculate the proceeds in the form of the bitcoin results. If you do not have a pool mining account, sign up for a slush pool account. You will need to connect the ASIC miner to the pool mining account. The next step is to set up the configuration of the pool mining account. Usually, this step requires the address of the server port and the pool. After this, you will need to boot up your Bitcoin mining software, such as the CGMiner or the BFGMiner. The software will then ask you to enter your address pool, port, username and password. Start the mining process and mine the bitcoin accordingly.
How to Choose the Best Mining Hardware.
Hash rate refers to the number of complex calculations that the hardware can complete in every second. The Hash rate is a critical factor as a high hash rate increases the chances of solving the complex mathematical computations necessary for earning Bitcoin as a reward.
In Bitcoin mining, what you will be looking for is a specific solution. With hash algorithms, similar mathematical problems will always give similar solutions. They are however designed to run unpredictably. As such, the only best way to get the specific solution right is to try many different (randomly). In addition to this, you should note that mining is competitive. Since after all the transaction request is broadcasted to the peer network. So the miner who gets it right first gets the reward. For these reasons, a high hash rate is essential for profitable mining.
Hash rate is measured in Megahashes or Gigahashes or Terahashes per second. The very first mining hardware featured a hash rate of between 336 MH/s and 14,000,000 MH/s.
Energy Consumption.
Bear in mind that Bitcoin mining is an investment. Given that, there are some costs you will have to bear to sustain the Bitcoin mining process. One of the expenses you will have to cater to is energy costs.
The more powerful the hardware you use is the electricity you should expect to consume. As such, before you purchase any mining hardware, you should consider electricity consumption rating in watts. Knowing this will help you work out the costs of energy consumed by the unit. It will help you determine the viability of Bitcoin mining using the said hardware. If your calculations assess the revenue of mining BTC to be less than that of the subsequent energy bills, then the venture is not worthwhile.
Using the energy consumption and hash rate numbers, you can determine just how many hashes can be mined from every watt of electricity flowing through your mining hardware. To make this calculation, divide the hash rate by the hardware's watt consumption.
For instance, if you have a hardware hash rate of 4500 MH/s and it requires about 32 watts of energy, then expect the mining hardware to provide you with approximately 140,625 MH/s for every watt of electricity. To calculate the power bill you should expect every week, month or year, make use of the online Bitcoin mining energy calculators.
Do the same calculations apply when using a laptop, one may wonder? Well, they do. Laptops consumer energy and have a hash rate as well. Follow the above formula to calculate the energy costs.