Bitcoin mining is becoming one of the most lucrative and innovative sectors of the global economy. According to data, at the height of the current bull run in April 2021, cryptocurrency mining has generated $3 billion in revenue, which means that crypto miners earned $100,000,000 in profit every day on the average.
Just 5 years ago, the average daily revenue of the crypto mining industry circulated at around $1 million. In a very short time, this number has increased by almost 10,000%, making cryptocurrency mining one of the most rapidly booming markets in the world. But as it became extremely profitable, it has also become very competitive, and choosing cutting-edge Bitcoin mining hardware is now more important than ever.
All Bitcoin mining is now done using ASICs - specialised Bitcoin mining hardware housed in thermally-controlled data centres with access to cheap power. ASICs are the next step in the development of crypto mining after CPUs, GPUs, and FPGAs: they are able to accomplish the same thing in a much more efficient and profitable way.
The days when anybody could successfully mine cryptocurrency at home on their PCs are long gone. Whether you're mining Bitcoin, Litecoin, DASH, or a variety of other digital currencies, an ASIC miner is the most effective method to mine crypto.
Because of the rapidly increasing profitability of cryptocurrency mining enterprises, the worldwide crypto mining hardware industry is anticipated to expand to more than USD 2.80 billion between 2020 and 2024. There are many reasons why the crypto mining sector is expanding so quickly: the growing acceptance of cryptocurrency by retailers, massive investments made by large semiconductor companies in mining-specific hardware, and the increasing demand for equipment manufactured in China.
These trends will further add to the growth of the cryptocurrency mining hardware market size in the near future, which will also increase the competitiveness of crypto mining. Fortunately, choosing the best crypto mining hardware will allow you to become a lucrative Bitcoin miner. By reading this article you'll be able to discover the advantages and disadvantages of the five most popular ASIC mining machines on the market.
Because so many individuals and businesses are entering the crypto mining ecosystem, ASICs are now in high demand and they have become quite expensive. When purchasing an ASIC, the most important thing to consider is its efficiency - the number of BTC that can be generated per day minus costs such as electricity bills and mining pool fees.
Picking an efficient ASIC will help you receive a return on your initial investment as soon as possible. For best efficiency, a top-quality PSU (power supply) is usually required in addition to the AIC unit.
We've listed the current pricing, hash rate, and power usage of each device to help you make your decision. We evaluate the best bitcoin mining ASIC devices based on reputation, functionality, the convenience of usage, and other factors.
While we have extensively discussed different ASICs in this article, the question you may face, where to buy these from. Among the available options, we have seen CoinMiningDirect, a distributor of affordable and efficient crypto mining hardware based in Sweden (with a warehouse in the US), offering a variety of powerful Bitcoin mining machines. If you decide to purchase any of the ASICs listed below, CoinMiningDirect may be the preferable option as it claims to ensure maximally reliability as they work on the mission to make mining devices accessible to average people. We also found their promised fast delivery to be worth going for.
Bitmain Antminer S19 Pro (110TH/s)
- Cost: $9,799.95 – $12,999.
- Power usage: 3,250W
- Hash power: 110TH/sec
While its availability is limited and the initial costs can be quite prohibitive, the Bitmain Antminer S19 Pro is definitely one of the most sophisticated ASICs available on the market, and will be an excellent choice of Bitcoin mining hardware, assuming that you have good access to a source of cheap electricity. The S19 achieves a decent mix between power and cost, and if you can afford it the S19 Pro model will be able to turn out an even more impressive 115 TH/s.
If your goal is to mine any cryptocurrency you prefer at optimum efficiency regardless of the cost of initial investment, Bitmain Antminer will be the right choice for you. The Antminer S19 Pro with the hash power of 115TH/sec is by far the most advanced model, but Antminer S19, Antminer S17, Antminer T1, Antminer S9 and Antminer S17 Pro are also worth considering if you're looking for something slightly more affordable.
The S19 Pro is set up in the same way as the S19, which means that it's very easy to configure and maintain. Antminer's MinerLink GUI is exceptionally simple, and all you'll need to do to configure the ASIC is to type in your mining pool credentials. However, it's important to note that the only available connection method for Antminer S19 Pro is Ethernet.
The device starts working automatically after it is powered up, which might be helpful if you expect power outages to happen. Given the current situation on the crypto market, Bitmain Antminer S19 Pro can generate a profit of approximately 2,000$ a year.
Canaan AvalonMiner 1246
- Power uage: 3.43KW
- Hash Power: 90Th/sec
- Cost: $4,000-$5,300
Canaan was one of the first companies to produce ASIC miners for commercial use, and over the years it has established a solid market presence and great reputation proving their expertise in the field of crypto mining. Canaan's flagship model is the AvalonMiner 1246. With the throughput of 90 TH/s, AvalonMiner 1246 can be compared to the Bitmain Antminer S19 and the Whatsminer M30S.
One of the downsides of the AvalonMiner 1246 is its price. It costs around $5,500, which is significantly more than Bitmain and MicroBT's offerings.
Fortunately, if you have access to an affordable source of electricity, you will easily make profit with the Canaan AvalonMiner 1246. With the median price of energy in the USA, at $0.12/kWh, AvalonMiner 1246 would enable you to repay your initial investment in just two years.
If you're looking for a profitable ASIC which doesn't consume tons of energy, AvalonMiner 1246 will be perfect for you as it only uses 3420W. It's also much quieter in operation compared to the WhatsMiner M30S and the Antminer S19.
Pay attention to the fact that the AvalonMiner 1246 functions best between -5°C and 35°C (23°F to 95°F). The temperature range is wider and more similar to the WhatsMiner M30S than the AntMiner S19 series.
Checkout Canaaan AvalonMiner 1246 here
- Power usage: 3.472KW
- Hash power: 112Th/sec
- Cost: $9,900 – $14,000
WhatsMiner M30S++ is considered a direct competitor to the Antminer's S19 Pro because it can generate a very similar 112 TH/s throughput. However, WhatsMiner M30S++ is substantially cheaper than the Antminer S19 Pro - on MicroBT's online store, you can purchase one for only $3,250.
With the median power prices in the US, the M30S++ will allow you to make $3,611 while spending around $3,600 a year on electricity. Just like the older WhatsMiner M30, the WhatsMiner M30S++ consumes 3472W and operates at a 38 J/TH efficiency. The best efficiency is achieved between -5°C and 35°C (23°F to 95°F).
The M30S machines are smaller and less energy consuming than the Antminers, but they have slightly less hash power than their Antminer counterparts. They also use more electricity and convert it to terahashes less efficiently.
Despite this, in the long term MicroBT's WhatsMiner can provide higher hashing power per dollar invested. Another advantage of WhatsMiner ASICs is the fact that they are much easier to obtain than Antminers.
Overall, the WhatsMiner M30S series is an outstanding Bitcoin miner - it can provide hashing power that rivals Antminers with a much smaller initial investment required.
AvalanMiner 1166 Pro
- Power usage: 3.4KW
- Hash power: 81 TH/sec
- Cost: $2,200-$2,850
The AvalonMiner A1166 Pro is massively popular because it provides high hash rate and small power consumption at a very low price. The AvalonMiner 1166 Pro has a maximum hash rate of 81TH/s, and consumes 3276W of electricity. Not only is the device itself relatively cheap, but it also has one of the most efficient rate of converting electricity to hashpower, overall making it one of the most economical ASIC choices on the market.
Profitability of the AvalonMiner A1166 Pro is estimated to be $2.77 per day, $83.10 per month, and $1,011.05 per year with current energy and crypto prices, which clearly makes the A1166 Pro one of the most lucrative ASICs. Since it's also relatively cheap, it will be a great choice for new miners who want to join the crypto mining community and are looking for their first cryptocurrency mining hardware.
Sadly, Canaan seems to have cut some corners to keep it inexpensive, because just 180 days of guarantee are provided. Furthermore, if you want to purchase the Avalon Miner A1166 Pro straight from the manufacturer, you must order at least five machines. The set of five A1166 Pros would produce 405 TH/s and generate around 115 dollars a day.
Please note that the noise produced by the Antminer A1166 Pro is very high compared to other ASICs, which make many crypto mining experts consider it more suited for industrial crypto mining than small scale cryptocurrency mining operations.
Check out the AvalaanMiner 1166 pro here
Ebang EBIT E11++
- Power usage: 2KW
- Hash power: 44 TH/sec
- Cost: $2,024
Ebang Ebit E11++ generates a maximum hashrate of 44TH/s while consuming 1.98KW of power and includes a power supply unit. It's a great ASIC for people who want a less energy consuming device, even at a cost of lower hashrate than that provided by the competition.
If you live in an area with high energy prices, the Ebang Ebit E11++ might be the best option for you. The included power supply is very efficient, and it also utilises a separate heat sink with state-of-the-art bonds, which can provide an excellent rate of heat dissipation.
Unfortunately, like many cheaper ASICs, the Ebang Ebit E11++ model is also very loud. The device's noise level is 75db, which means that it's not really suitable in a home context for miners wanting to install their mining appliances where they live.
The E11++ model is constructed on a 10nm chipset with a one-year guarantee (half a year for the entire machine, one for the controller). The relatively short guarantee period is also something typical to less expensive ASICs.
The Ebang Ebit E11++ was launched in 2018 and is still profitable today - the current profit ratio is estimated to be 78%, and the annual return is 77% of the initial investment. The performance and results are satisfactory to crypto miners who want an affordable ASIC with relatively low energy consumption - but when it comes to pure hashrate efficiency, the E11++ is much less attractive than more expensive ASICs such as the AvalonMiner A1166 Pro