When the price of bitcoin ticks up, people’s interest in bitcoin mining picks up as well. Knowing this fact, people start looking for the 5 best bitcoin miners.
Whether you're looking to build your very own mining farm or you just want to run a few in your house or office, here are the 5 best bitcoin miners in terms of profitability and price.
What is Bitcoin Mining?
The first key thing here is to understand that mining bitcoin means creating it. Bitcoin is created through a process called mining in which a network of decentralized computers compete to solve very complicated mathematical problems to approve and verify transactions of the cryptocurrency on the network. The miner who verifies more transactions gets rewarded 6.25 bitcoins, a share of the mined bitcoin.
A cluster of verified transactions is called a block and these blocks are joined together to create a chain, that’s why it’s called the blockchain. In other terms, we can say that mining is the process of adding new blocks to the chain.
So a blockchain is a distributed ledger system that consists of a sequence of blocks (units) that contains digital information which is stored in a decentralized public database. Data stored in the blockchain is immutable; meaning it cannot be altered or changed and irreversible. Blockchain is the technology on which a cryptocurrency is created.
Is Bitcoin Mining Profitable?
The short answer is yes but it depends on many factors like electricity cost, the regulations of the country where the miner is located, the price of bitcoin or volatility, and the mining rig cost. However, over time, the mathematical problems that the miners should solve to mine bitcoin get harder, requiring them to add other computers to their rig thus needing enormous amounts of electricity. This deems mining somehow unprofitable, especially that the bitcoin reward gets half-cut every four years.
To avoid such high costs, miners joined resources, computer forces and capabilities to create what is called mining pools. Here are the 5 best bitcoin miners.
What Are The 5 Best Bitcoin Miners?
1. Antminer S19 (Company: Bitmain)
Being the latest generation of ASIC miners, Antminer S19 is designed with advanced technology, which improves operations and ensures long-term operations for future mining due to its enhanced power efficiency of 29.5±5% J/TH, further improving the efficiency from its predecessor. This model profitability is up to $17,810 yearly making it the top one among our 5 best bitcoin miners.
Hashrate: 110 ± 3%
Power Consumption: 3250W ± 5%
Income per year: $17,810
2. Whatsminer M30S (Company: MicroBT)
Dubbed as the world’s first fastest Bitcoin ASIC miner, M30S++ delivers 112 TH/s with outstanding power consumption at 3100 watts per Tera hash. This specific model is equipped with the SHA-256 algorithm which deploys a maximum hash rate of 112Th/s for a power consumption of 3100. The M30S can secure up to $15,859.20 income.
Hashrate: 112TH/s (+/- 5%) (depends on cooling)
Power Consumption: 3100 watts
Income per year: $15,859.20
3. Antminer S7 (Company: Bitmain)
Released in 2015, Bitmain's Antminer S7 runs on SHA-256 algorithm with a maximum hash rate of 4.73Th/s for a power consumption of 1293W. The profitability of this model is $762.41 on a yearly basis.
Hashrate: 4.73 TH/s
Power Consumption: 1293 watts
Income per year: $762.41
4. AntMiner L3+ (Company: Bitmain)
Running on mining Scrypt algorithm, Antminer L3+ (504Mh) from Bitmain has a maximum hash rate of 504Mh/s for a power consumption of 800W only. Considers the fastest Litecoin (or any other Scrypt-based coin) many use it to mine bitcoin too.
Hashrate: 504MH/s ± 7
Power Consumption: 800W
Income per year: $2,722.01
5. AntMiner D3 (Company: Bitmain)
This Model Antminer D3 (19.3Gh) from Bitmain uses an X11 algorithm, which is an algorithm used by the popular Dash cryptocurrency, with a maximum hashrate of 19.3Gh/s for a power consumption of 1350W.
Hashrate: 19.3 GH/s (Variation of ±5% is expected)
Power Consumption: 1200W (at the wall, with Bitmain’s APW3 PSU, 93% efficiency, 25°C ambient temp)
Income per year: $539.76
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