There are several new Bitcoin ASIC miners in 2018 and these are profitable. Bitcoin mining refers to creating bitcoins and doing mathematical calculations. These are added to blockchain hardware. The equations become difficult with more miners resolving it.
How to start bitcoin mining ?
This hardware is an equipment or tool that does essential calculations, blocking the mines. It creates bitcoin by adding to the blockchain the transaction records. Thus, the newly realized bitcoins are the best bitcoin mining hardware. Thus anyone having access to reliable hardware and the internet can produce bitcoins. You may avoid confusion and ensure everything makes sense. Here are few terms; you must know relating to bitcoin mining.
- Hash rate shows the power of a machine to mine bitcoin. Having higher has rates helps in going to the next block. It helps in complex mathematical function.
- Block reward refers to the bitcoins numbers received from a new mining block. This is halved each time with 210,000 blocks.
- ASIC refers to Application specified Integrated Circuit. It is a customized microchip for special application.
The bitcoin mining hardware types include GPU, CPU, ASIC and FPGA. GPU or CPU is the foremost types of bitcoin mining hardware. Though it may be used to mine bitcoin, they are inefficient and slow in comparison to the how to start bitcoin mining
ASIC has good speed comparatively and the electricity consumption is low. The new versions come with addresses requiring no set up. While, FPGA is unique and it allows adjusting bitcoin hardware mining.
Best bitcoin mining hardware Price
- Dragon Mint 16T featuring $2500 as purchase price, the hashrate is 16TH/s and the power usage is 1480W.
- Antminer S9 is at purchase price $1193 on Amazon, the hashrate is 14TH/s and power usage is 1372W.
- Antminer R4 is n Amazon at $2499, with 8.7TH/s hashrate and 845W poser usage.
- Antminer T9+. This is reliable competitor and is on Amazon at $875, the hashrate is 10.5TH/s and the power usage is 1332W.
- Antminer S7 that arrived before S9. The cost is $400 on Amazon, featuring 4.7TH/s hashrate and 1300W power usage.
In case you find the miner unavailable on Amazon, you may consider these:
- Block reward as this will not change for another 2 years.
- The price of bitcoin may increase monthly by 10% and 8% respectively for optimistic and sceptical predictions.
The costs of electricity vary, so consider countries cheaper on electricity to enjoy higher return. Bitcoin gold mining calculator