The on-going Cryptocurrency bear market has affected other aspects of the sector such as mining. When Bitcoin and other coins were selling at their highest prices towards the end of 2017 and the beginning of 2018, mining was a lucrative business. However, although the recent crash has made mining almost unprofitable, there has been a significant reduction in mining hardware prices. Consequently, if you use cheap power or rely on renewable energy, mining could still be profitable.
Evolution Of Mining Hardware
Cryptocurrency mining is set in such a way that creating new coins becomes more difficult with time. Consequently, mining machines must also develop accordingly. In the early years of Cryptocurrency, one could mine using CPU. Satoshi mined the first Bitcoin using his/her/their own PC. As mining became harder, GPU was introduced on Sept. 18, 2010. Graphics cards could now be used to create new coins. In 2013, ASICs, which could outperform GPU and CPU were introduced.
When it comes to selecting mining hardware, the miners have many options with regard to their individual circumstances. Whereas some will be comfortable with only a single unit, others will look for several affordable ASICs to get into the sector. Lastly, there are those who will want to establish a Crypto mining plant composed of the best mining hardware.
Although Cryptocurrency mining is a power-intensive process, some hardware manufacturers are coming up with energy-efficient devices. When choosing a mining gadget, it’s advisable to consider their electricity consumption. Other important factors to consider include price, ambient temperature, hashing power etc.
Innosilicon Terminator T3
Terminator T3 is one of the most powerful miners by Innosilicon. The miner has a 43 TH/s hashrate and power consumption of only 2100W. This powerful miner gives users an unbeatable advantage in this sector. Innocilicon T3 is an improvement over its predecessors and is designed for longevity. Apart from efficiency and reliability, this miner also comes with an extra cooling system. It can mine over 10 coins.
Antminer T15 is another powerful mining hardware by Bitmain, a renowned Chinese ASIC manufacturer founded in 2013. Towards the end of last year, the company began the official sale of its two SHA-256 7nm miners, S15 and T15. T15 has a hashrate of 23 TH/S and power consumption of 1541 watts. This device can mine over 10 coins.
Shark Extreme 2 (8 GPU)
Shark Extreme 2 (8 GPU) is a powerful Crypto mining device used to mine Monero, Ethereum, Bitcoin Gold, and ZCash among other coins. It has a hashrate of 120MH/S and power consumption of 400W-600W / 5A. Shark Mining is known for its powerful pre-built mining rigs.
Ebang released Ebit E11+ as an advanced successor of E10. It is among the most powerful ASIC-miners with a hashrate of 37 TH/S. This hardware can be used to mine various Cryptocurrencies such as Bitcoin and Bitcoin Cash among others.
Canaan’s Avalon 6 is one of the cheapest ASIC miners making it ideal for those wishing to join the Crypto sector. Although the hardware has a hashrate of 3.5 TH/S, it is easy to use. To mine at a profit on this machine, you need very cheap power.