With the growing furore and mania for Bitcoin, more and more people are investing their hard earned money in this cryptocurrency. You might have also planned on ploughing back into the crypto space and making some profits. But have you ever thought where does these Bitcoins come from?
In case of fiat money or paper money, the government makes a decision when to print it and when to distribute it. But with Bitcoin, this is not the case, as there is no central government involved. There are miners, who bring best bitcoin mining hardware into play for solving complicated mathematical problems. In exchange, they are issued a certain number of bitcoins, which is usually referred to as bitcoin block reward. Bitcoin mining is a smart way to issue currency, and it creates an incentive for miners, at the same time. But what kind of Bitcoin Mining Software is used by miners, these days? Let’s find out.
Bitcoin Mining Hardware – Before Evolution
Initially, miners used CPU (Central Processing Unit) for mining, but the traditional systems were not fast enough and even bogged down the system resources. To overcome these drawbacks, miners started using GPU (Graphical Processing Unit) in computer graphic cards. These cards were able to hash data hundred times faster than traditional CPUs and also consumed less power per unit of work.
In 2011, a new industry came up with advanced equipment that made performance standards higher. These devices were easy to use, as they were based on FPGA (field programmable gate array) processors and attached quickly using a USB connection. These systems made concentrated mining farms possible.
Modern and Sophisticated Bitcoin Mining Hardware – After Evolution
Today ASIC (Application Specific Integrated Circuits) have taken over Bitcoin mining completely. These machines not only mine at amazing speeds but also consume very less power as compared to FPGA and GPUs. These days, many reputable companies are endowing customers with excellent products, thus making it easy for miners to choose the best bitcoin mining hardware.
Best Bitcoin Mining Hardware
Based on price per hash and electrical efficiency, following are the best bitcoin mining hardware available on the market.
AntMiner S7: AntMiner S7 comes with a capacity of 4.73 Th/s and power efficiency of 0.25W/Gh. It weighs around 8.8 pounds and can help mine 0.1645 BTC per month. This hardware is available at around Rs. 31,220 on popular online portals.
AntMiner S9: AntMiner S9 comes with a capacity of 13.5 Th/s and power efficiency of 0.098 W/Gh. It weighs around 8.1 pounds and can help mine 0.3603 BTC per month. This hardware is available at around Rs. 1,91,145 on popular online portals.
Avalon6: Avalon comes with a capacity of 3.5 Th/s and power efficiency of 0.29 W/Gh. It weighs around 9.5 pounds and can help mine 0.1232 BTC per month. This hardware is available at around Rs. 59,187 on popular online portals.
Best ASIC Bitcoin Mining Hardware 2018
Two significant factors that you should keep in mind while buying the best bitcoin mining hardware is its cost and electrical efficiency. ASIC circuit chips are used solely for solving Bitcoin blocks only. The good part is when compared to the traditional systems like FPGA, GPU and CPU, these chips can solve Bitcoin blocks quicker, and they use very less electricity. But the sad part is, the value of the chips is utterly dependent on the popularity of bitcoin mining and the ever-increasing Bitcoin price.
In addition to this, as more bitcoin mining hardware will be deployed for securing the network, the Bitcoin difficulty level will also increase. For competing profitably with such high difficulty level, ASIC systems are a must. Following are some of the best bitcoin mining hardware apart from the above ASIC miners that you might want to invest in.
AntMiner U2: AntMiner U2 comes with an advertised capacity of 2 Gh/s and power efficiency of 1.0 W/Gh. It weighs around 0.8 ounces and is available at around Rs. 3,164 on popular online portals.
BPMC Red Fury USB: BPMC Red Fury USB comes with an advertised capacity of 2.5 Gh/s and power efficiency of 0.96 W/Gh. It weighs around 1.6 ounces and is available at around Rs. 2,866 on popular online portals.
GekkoScience: GekkoScience comes with an advertised capacity of 9.5 Gh/s and power efficiency of 0.33 W/Gh. It weighs around 0.8 ounces and is available at around Rs. 3,183 on popular online portals.
If you are not willing to invest too much money in a brand new bitcoin mining hardware, you can even opt for used mining rigs that are readily available online at reasonable prices.