The bitcoin miner hobby can still be fun and even profitable if you have cheap electricity, an efficient bitcoin mining machine, and if you get the best bitcoin mining hardware.
Bitcoin Mining Hardware Comparison
What is a Bitcoin Miner ASIC?
Since it is now impossible to mine Bitcoin profitably with your computer, you will need specialized hardware called ASICs.
Originally, Satoshi intended Bitcoin to be mined with the CPUs of computers. However, Bitcoin miners discovered that they could get more hash power with graphics cards. The graphic cards were later surpassed by the ASICs (Application Specific Integrated Circuits).
Nowadays, serious Bitcoin mining is performed on dedicated Bitcoin mining hardware ASICs, usually in thermally regulated data centers with access to low-cost electricity. Think of a Bitcoin ASIC as a specialized Bitcoin mining computer, Bitcoin mining machines, or “bitcoin generators”.
How to Find the Best Bitcoin Miner
There are some important factors to examine when you want to determine which Bitcoin mining ASIC to buy:
- Hash rate – How many hashes per second can the Bitcoin miner do? A more hashes more cost, and that’s why efficiency is crucial …
- Efficiency – You’ll want to buy the most efficient bitcoin mining hardware possible. Since miners use a lot of electricity, you need to buy one that converts as much electricity into bitcoins.
- Price – How much does the bitcoin miner cost? The cheap mining hardware will mine less bitcoins, and that’s why efficiency and the use of electricity are important. The fastest and most efficient mining hardware will cost more.
Do not try to buy a miner only based on the price or the hash rate. The best miner ASIC is the most efficient bitcoin miner. Point to the value.
Bitcoin Miners for Sale on eBay
If you are an amateur miner who wants to buy a couple of rigs for your house, then eBay has some decent offers on mining hardware.
Used Bitcoin Mining Hardware for Sale
Both the new and used bitcoin mining rigs and ASICs are available on eBay. One may want to buy used mining hardware ASICs on eBay because you can get better prices. EBay’s customer protection guarantees that you will get a product that works. Other equipment attached may be included with your purchase depending on the seller.
I recommend buying the Antminer S7 or the Antminer S9.
You can use a bitcoin mining profitability calculator to determine your estimated return cost on your mining hardware.
Make sure you take into account the costs of electricity. Most mining hardware appears to be profitable until electricity costs are taken into account.
Most Efficient Bitcoin Miners
A good bitcoin mining hardware needs to have a high hash rate. But, efficiency is equally important.
An efficient Bitcoin miner means that you pay less in electricity costs per hash.
The miners in the table below are currently the most efficient Bitcoin miners in the market.
The Avalon6 gets 0.29 Watts / GH, but it costs more than $ 200 more than the Antminer S7.
The Antminer S7 is more efficient, with 0.25 Watts / GH. The Antminer S7 also costs much less, and comes with 4.5 TH / s of hash capacity compared to 3.50 TH / s of the Avalon6.
The AntMiner S7 is clearly the best choice between these two miners, which are currently the most efficient miners available to buy.
To improve your efficiency, there are also companies that will allow you to buy hardware from your deposit and will operate the miners for you. You could also mine bitcoins in the cloud. Both options are much less fun than running your hardware!
Bitcoin Mining Hardware Companies
- Bitmain – Bitmain creates the Antminer line of Bitcoin miners. Bitmain is based in China and also operates a mining pool.
- BitFury – BitFury is one of the largest producers of bitcoin mining hardware and chips. Your hardware is not available for purchase.
- Spondoolies Tech – Spondoolies Tech is a producer of Israeli mining hardware.
Bitcoin Mining Equipment
In addition to a Bitcoin mining ASIC, you will need other Bitcoin mining equipment:
Source of electricity – Bitcoin rigs need special sources of electricity to channel and use electricity efficiently.
** Cooling fans ** – Bitcoin hardware can easily overheat and stop working. Buy enough cooling fans to keep your hardware running.
You can find Bitcoin mining equipment for sale on eBay.
Mining Bitcoin without Hardware?
It is technically possible to mine bitcoins without dedicated mining hardware. However, you will earn less than one cent per month. Mining bitcoins on your computer will hurt your computer and you will not have a profit. So, it’s not worth it unless you’re simply interested in seeing how the mining process works. Your best bet is to buy dedicated hardware such as the Antminer S7 or the Antminer S9.
Bitcoin USB Miners
Using a Bitcoin USB miner with your computer was once a profitable way to mine bitcoins. Nowadays, however, USB miners do not generate enough hash power to mine profitably. If you want to get a USB Bitcoin miner to learn, then eBay is a good place to buy a cheap Bitcoin miner.
It is important to remember that Bitcoin mining is competitive and today is not a good idea for average people. If you only want bitcoins then it is best to buy bitcoins.