Are you searching for cryptocurrencies without investing your money? If your answer is yes, then you are on the right article. In this article, we will discuss the best cryptocurrency mining hardware for 2021 and beyond.
But the most important question is even after the global GPU shortage and an import tariff exemption that has expired, is it still worth it to invest in Bitcoin mining hardware? So let us delve deep into this topic to find the answer.
What Is a GPU?
Initially, digital currency mining was carried out using the Central Processing Unit (CPU) and not the Graphics Processing Unit (GPU). GPU replaced the CPU a few years back because its processing speed was limited and the mining process was rendered inefficiently and also it consumed a lot of power that led to limited output.
With the advent of GPU, things got smooth and easy. GPU looks after the digital rendering in the computer system. Therefore the most crucial element in blockchain mining is GPU as it is responsible to enhance speed and accuracy because its power potential is huge. Therefore miners always prefer to use GPU to mine the digital currency before formulating a decentralized processing network. Robust GPU is a prerequisite now for all you want to mine digital currency.
How To Mine Digital Currency With GPU?
To start your magical journey with cryptocurrency you need to know a few sets of things. These are all mentioned below.
- Mining software packages that are free.
- A free private wallet that will hold all your coins and will show you all details about your cryptos and transactions.
- You need to get a membership in an online pool so that you can connect to various miners to make sure profit and income consistency.
- You have to get a membership at any currency exchange.
- You have to get a custom built computer that will do the task seamlessly.
- You have to do vigorous research and development.
Types Of Cryptocurrency Mining
Crypto mining can be basically seen in two ways: either you take it as a method or you take it as a process. So here are the types of mining based on that.
Crypto mining as a process
This is for miners who are tech savvy and have good technical knowledge regarding mining. They go through the complete process of mining.
CPU mining is basically processor based mining. The best part of using this is that you can exercise it by getting hold of a CPU. So before initiating with GPU you can once try mining with CPU. But it is not the best option when it comes to mining.
It is mainly a video card based mining, that video card that is required in your computer for gaming. These miners are flexible and hold the potential to mine a varied range of digital currencies. This allows you to change or switch between coins in case there are high fluctuations in the market.
ASIC mining operates on a particular algorithm. It is practiced on special equipment with the intent to mine digital currencies. Initially, it was a computer component formulated for a specific type of application. However, in terms of performance, it is way better and superior to CPU and GPU mining.
Crypto Mining as a method
As the name suggests this is for those who are not tech savvy and just want to enjoy any technical knowledge. Such miners approach mining differently in these three types:
As the term suggests, these minings are done by individual miners who take the whole process all by themselves. They do not depend on other miners and earn rewards every time they unlock a coin.
Not everyone can invest huge amounts of money to avail the best cryptocurrency mining hardware. For this, a solution was found by the developer which is known as pool mining. Here the miners need a server that has the computational power of all the miners.
After looking at the high price and equipment requirement those who want to cut off their investment opt for cloud mining. The best part about cloud mining is that it increases the usability of the coin.
5 Best Cryptocurrency Mining Hardware For 2021
When it comes to the profitability of cryptocurrency, it all comes down to balancing the initial cost of the Bitcoin mining machine, its power draw, and also its hash rate. Once you know these you will not be needing a Bitcoin mining calculator. You can calculate on your own. So let us see the best cryptocurrency mining hardware for 2021 and beyond.
Avalon Miner 1246
- Power draw: 3.43 kW
- Hash rate power: 90TH/s
- Price tag: $4,000 – $5,300
This company is known to be the first company to offer a dedicated ASIC miner machine of Bitcoin since it released its first model in 2013. It is a heavy duty Bitcoin mining software.
AvalonMiner A1166 Pro
- Power draw: 3.4 kW
- Hash rate power: 81TH/s
- Price tag: $2,200 – $2,850
AvalonMiner has nearly equal hash rate power and power draw at a price that is less than twice. This Bitcoin mining hardware is so highly looked after that it is even more difficult to get. This Bitcoin mining machine has a hash rate efficiency which is equal to at 42J/TH, 4 higher than the AvalonMiner 1246. Although it still costs as much as a high-end PC, it’s a great deal at that power production.
AntMiner S9 Mining
The newest Antminer is the Bitmain Antminer S9 and utilizes around 1,375W. On the basis of its technical features, the S9 has the capacity to mine 0.03600399 Bitcoin every month. This figure is not an issue in the cost of power, hardware, pool fees, and others.
WhatsMiner M32-62T Mining
- Power draw: 3.348 kW
- Hash rate power: 62 TH/s
- Price tag: $1,075 – $1,400
This is one of the newcomers to the mining arena that was launched last year. This super cost effective Bitcoin mining machine uses Samsung’s 8nm chipset. This makes the product one of the best cryptocurrency mining machines. Unfortunately, the newest does not imply the most efficient, as you can tell from the capacity of power it draws which is comparable to AvalonMiner 1246, but is 30% less efficient.
WhatsMiner M30S++ Mining
- Power draw: 3.472 kW
- Hash rate power: 112 TH/s
- Price tag: $9,900 – $14,000
The M30S++ is another model from Chinese MicroBT. It is a Bitcoin mining machine beast that has the highest hash rate power available on the retail market. Shockingly, its power draw is relatively low, which implies that it is also one of the most efficient ASIC miners at 31 J/TH. However, with a cost at a minimum of $10k, you need to be heavily inclined towards Bitcoin mining.
We would suggest you do your homework before you start to mine. Firstly you need to understand all the concepts of mining with digital currency. So above is a list of the 5 best cryptocurrency mining hardware which you can consider for 2021 and beyond.