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ninastansworld · 3 years

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ASIC Miners: How do they Work?

There are two different ways in which the ASIC miners are manufactured. They can either be pre-manufactured to work with a specific application or manufactured and then integrated with a custom application.

The typical parts of an ASIC miner are the software for mining, the ASIC chip, a power source, and the fans to keep the system cool. The entire rig consists of the fans, ASIC chips, and the processors among the main components.

If you wish to understand the working of an ASIC miner, you do not have to spend unnecessary money on becoming a mining expert. Instead, you can go for the low-cost tutorials that are available on the internet. Another way that you can opt is to use the USB miners. While they are quite cheap, the hash rate on them is quite low. This is understandable since you are getting what you pay for.

On a typical USB miner costing around $30, you will get an average hash rate of 330 MH/s. The return of investment by using this type of miner is usually around 1% per month. You will want to invest in an ASIC miner if you are planning to build a premium bitcoin mining hardware.

If you are in the market looking for the best ASIC miner, you will want to go with the Antminer S9, coming with a hash rate of 14 TH/s. This miner uses quite a lot of power and this is why you will need a power source that supplies more than 1275 watts. You can go with either of the two choices, depending upon the type of power that you are choosing:

110V PSUs like the Gold Rated 1000 watt PSU, or650 watt Power the ASIC Miner

There are just three simple steps that you have to follow in order to get started. These are as follows:

Using the PCIe cables, connect the PSU with the Antminer S9. This will automatically connect the miner to the Ethernet cable.After this, you will have to turn on the PSU, ensuring that the miner has started working.The last step is to connect your PC to the same network as the miner and you are done.ASIC Miners: Getting Started

Before you start building up hardware for bitcoin mining, there are a few things that you need to consider. There are some people who prefer to set up the mining rigs at their homes but if you are thinking about making a substantial profit, you will have to have a proper setup that is not feasible at homes.

You have to make some tough calculations and get the answers to what you want in profits. You can put in thousands of dollars and then not make a profit if you are not set up with the right equipment. This will just be a waste of your efforts and money and you will end up regretting ever putting your mind to bitcoin mining.

If you are looking to join the industry and make a profit, you will either have to build up a hardware that is capable of making you profits or purchase one of the pre-built rigs that are available in the market.

There are a few things that you require when you are looking to mine some bitcoins. These include:

An ASIC miner,A software that is going to be compatible with the miner, such as BFGMiner or CGMiner,A bitcoin mining calculator that will help you determine the number of altcoins that have been mined. This figure will be in cahoots with the power of the ASIC mining gadgets that you have.You can also use an additional fan for a better cooling of the components.A Bitcoin wallet. This will be the wallet where you will be storing the all the coins that have been mined by your setup.You can also use a slush pool as a pool mining account.

The process of mining is quite easy to understand and once you are familiar with it, you will be able to start the process whenever you want once you have the hardware set up.

The first thing that you have to do is to connect your ASIC miner gadget to your PC.After that, you can use the bitcoin mining calculator to calculate the proceeds in the form of the bitcoin results.If you do not have a pool mining account, sign up for a slush pool account. You will need to connect the ASIC miner to the pool mining account.The next step is to set up the configuration of the pool mining account. Usually, this step requires the address of the server port and the pool.After this, you will need to boot up your bitcoin mining software, such as the CGMiner or the BFGMiner.The software will then ask you to enter your address pool, port, username and password.Start the mining process and mine the bitcoin accordingly.How to Choose the Best Mining Hardware1. Hash Rate

Hash rate refers to the number of complex calculations that the hardware can complete in every second. The Hash rate is a critical factor as a high hash rate increases the chances of solving the complex mathematical computations necessary for earning Bitcoin as a reward.

In Bitcoin mining, what you will be looking for is a specific solution. With hash algorithms, similar mathematical problems will always give similar solutions. They are however designed to run unpredictably. As such, the only best way to get the specific solution right is to try many different (randomly). In addition to this, you should note that mining is competitive. Since after all the transaction request is broadcasted to the peer network. So the miner who gets it right first gets the reward. For these reasons, a high hash rate is essential for profitable mining.

Hash rate is measured in Megahashes or Gigahashes or Terahashes per second. The very first mining hardware featured a hash rate of between 336 MH/s and 14,000,000 MH/s.

2. Energy Consumption

Bear in mind that bitcoin mining is an investment. Given that, there are some costs you will have to bear to sustain the Bitcoin mining process. One of the expenses you will have to cater to is energy costs.

The more powerful the hardware you use is the electricity you should expect to consume. As such, before you purchase any mining hardware, you should consider electricity consumption rating in watts. Knowing this will help you work out the costs of energy consumed by the unit. It will help you determine the viability of Bitcoin mining using the said hardware. If your calculations assess the revenue of mining BTC to be less than that of the subsequent energy bills, then the venture is not worthwhile.

Using the energy consumption and hash rate numbers, you can determine just how many hashes can be mined from every watt of electricity flowing through your mining hardware. To make this calculation, divide the hash rate by the hardware’s watt consumption.

For instance, if you have a hardware hash rate of 4500 MH/s and it requires about 32 watts of energy, then expect the mining hardware to provide you with approximately 140,625 MH/s for every watt of electricity. To calculate the power bill you should expect every week, month or year, make use of the online Bitcoin mining energy calculators.

Do the same calculations apply when using a laptop, one may wonder? Well, they do. Laptops consumer energy and have a hash rate as well. Follow the above formula to calculate the energy costs.

3. Price

The price of the mining hardware is also essential. Do not forget most of the cheap mining hardware will rake in a few Bitcoins. Expensive Bitcoin mining hardware is unique, fast and efficient. To make a fortune from the Bitcoin mining business, be ready to invest. Aim for value and quality in your purchase.

How ASIC Miner Have Changed the World of Cryptocurrency Mining

When the idea of the bitcoin and the bitcoin mining was still new, all you needed was a normal PC with the normal CPU and GPU to start the mining. However, when the idea became popularized, the traditional equipment could not get the desired hash rate. This is when the advancements began to be made. It was known beforehand that when the demand of the bitcoin will rise, there will be a need to develop better hardware to keep up with the demand.

When the traditional CPU proved itself to be ineffective, there was an addition of the GPUs to the system. This kept the hash rate up for a while. However, the exponential growth of the demand meant that there was a need for a better hardware to keep up with the market.

This is when the GPUs became more advanced and stacks of them began to be used to get a higher hash rate. However, the cost of electricity began to rocket through the skies and mining coins on stacks of GPUs stopped being feasible as well.

As and when the miners increase in number, there is going to be a drop in the hash rate if you are using the same equipment. This is when the need for a better technology arose and the ASIC chips came into existence.

As we know quite well by now, the ASIC chips are designed for the sole purpose of mining and they are quite efficient in comparison with the GPUs, producing a higher hash rate at a lower consumption of electricity. This specialized technology has done marvels and companies and individuals around the world have started their own mining farms after the ASIC chips came out.

Since this technology was developed for the sole purpose of mining and cannot be used anywhere else, the cost has to be born by the customers of mining only. This is why some of the best ASIC miners in the world can cost thousands of dollars every month.

There is quite a lot of heat produced when the ASIC miners are at work. This is one of the sole reasons why many companies in the world are having a hard time looking for a suitable place to set up their mining farms. There is a huge requirement of space to accommodate all the equipment and the electricity has to be cheap too. A lot of the space is taken up by the fans that are used to cool down the equipment.

On the other hand, there are some companies which do not have any trouble with this arrangement and they have set up huge mining farms. This has led to the mining of the bitcoin and validation of the blockchain to become more of a centralized process since most of the mining is being done by these few companies.

Can we Mine Without ASIC Miners? YES!

Even though everyone around the world is going to recommend that you invest in an ASIC miner, there are a few other ways in which you can mine the bitcoin and other altcoins. These include:

Mining Pools: This is the process of collaborating with others in the pool and combining the computing power of all to create a block. The rewards of this block are then shared among all the members of the pool proportional to the computing power that they contributed.USB Miners: This is one of the simplest ways of mining; the only thing that you have to do is plug in the USB Miner to the PC. However, it is quite inefficient and is usually considered a waste of the time and money.CPU: This is going to be one of the simplest way of mining; the only requirement is the CPU with a strong processor. This was going to be fruitful a decade ago but now it is not going to bring about any result.Choosing the Best ASIC Miner: What’s Your Choice?

Ultimately, the decision of whether or not to mine Bitcoin lies with you. However, if you need the best mining hardware to make your mining venture profitable, then above are some of the top asic miners you should consider. Ensure you consider the factors we have listed above before choosing the best asic miner.

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