We are here today to talk about the best Bitcoin miners around, so you'll find the best hardware listed here, no matter why you’re interested in mining.
You’ll learn a lot, as well. We’ll explore a little about the history of Bitcoin mining and how the hardware has evolved, give you some mining tips, and much more. Keep reading to learn everything you need about Bitcoin mining and all the best mining hardware.
- 1 What is Bitcoin Mining?
- 2 So, Just What is a Bitcoin Miner?
- 3 Can You Mine Other Coins Besides Bitcoin?
- 4 What are the Different Hashing Algorithms?
- 5 What is the Profitability of the Coins I’m Mining?
- 6 How Has Mining Hardware Evolved Over the Years?
- 7 How Can You Start Mining?
- 8 What Should You Look For When Purchasing Bitcoin Miners?
- 9 Who Are Some of the Biggest Miner Manufacturers?
- 10 The Best Bitcoin Mining Machines Currently on the Market
- 11 And There You Have It!
What is Bitcoin Mining?
This is an excellent question and one asked by almost everyone new to the world of cryptocurrencies. It gets a bit technical and complex, but Bitcoin mining is the computing process that generates new Bitcoins.
You see, for a Bitcoin to be mined, mathematical equations must be solved by thousands of computers all around the world. This is common on almost every currency or other application built on a blockchain. When these mathematical equations, or blocks, are solved, Bitcoins are created and rewarded to all the miners who participated in solving the block.
Someone could mine solo, but it would take forever for them to find a block, and they would most likely never see an ROI. Instead of mining solo, miners can mine in “mining pools.” Mining pools are just a collection of people mining together on the same network to strengthen their collective hash rates and earn more coins together.
This speeds up the mining process for everyone involved and makes it much easier to find blocks to solve. There are thousands of mining pools out there to choose from, so find one you like and get to mining!
So, Just What is a Bitcoin Miner?
Bitcoin miners are the special computers that mine cryptocurrencies like Bitcoin and other SHA-256 coins such as Bitcoin Cash, Gold, and SV.
Today's prevalent mining hardware is called an Application Specific Integrated Circuit, or ASIC, computer. It does one thing and one thing only: mine crypto.
There have been all kinds of reputable vendors for ASIC machines, like Avalon, Bitfury, and most famously, Bitmain, and they can be found for all kinds of different prices online. It is important to do your research before you purchase miners so you will be well informed ahead of time of different factors such as the machine’s hash rate and mining speed, as well as power usage and the like.
Unlike a typical computer, you won’t be able to plug a monitor, keyboard, and mouse into your miner to interface with it. Instead, you’ll find the miner’s IP address on your network after it is plugged into your router, and then you’ll visit its IP on your web browser on another machine.
When you visit the IP address on your browser, you’ll come across a web portal that will allow you to interface with your ASIC machine and tweak settings, add wallet addresses, adjust mining pool settings, and much more.
Helpful Hint: If your miner isn’t showing up in your browser when you attempt to go to its web portal, make sure both the miner and the computer you are using to access its settings are connected to the same network.
Can You Mine Other Coins Besides Bitcoin?
The answer to that question is a resounding yes. The easier question would be, which coins can’t you mine? Many altcoins (altcoins are any cryptocurrency besides Bitcoin) can be mined with ASIC mining machines or just regular desktop computers, laptop computers, or GPU mining setups.
There are literally hundreds of altcoins out there for you to choose from if you are looking at mining other coins along with Bitcoin. ASIC machines can mine many coins, depending on their hashing algorithm. Some popular coins that can be mined with ASIC mining machines are Bitcoin, Litecoin, Dash, Sia, and more.
Several altcoins pride themselves on being “ASIC resistant,” meaning they can be mined with only your desktop computer, laptop computer, or GPU graphics cards. Notable examples of these friendly coins are Monero, Electroneum, Bytecoin, and others.
Almost anyone can get into mining, but unless you are only getting into mining as a hobby or a learning experience, you are going to want to know about profitability calculations as well, so you don’t waste your time mining something that’s never going to net you any sort of return.
What are the Different Hashing Algorithms?
There are many different hashing algorithms for different kinds of coins. Some coins use a straightforward algorithm, while others use more complex methods for different reasons, like adding privacy enhancements or something similar.
To be well informed on everything that goes into mining, you must be aware of the different hashing algorithms, which coins they are used for, and the differences between some of the algorithms.
- SHA-256: This is the first popular hashing algorithm for cryptocurrencies and is the algorithm that powers Bitcoin. SHA stands for “Standard Hashing Algorithm,” and the 256 is in reference to the 256-bit signature it produces. Its hashes are calculated at gigahashes or terahashes per second. Other coins using SHA-256 are Bytecoin, Terracoin, Namecoin, and several more.
- Scrypt: Scrypt is an algorithm used in many altcoins. It is faster at finding blocks than SHA-256, and its hashes are calculated at kilohashes per second. Coins that utilize the Scrypt hashing algorithm are Litecoin, Dogecoin, Feathercoin, and others.
- CryptoNight: CryptoNight is an algorithm specifically designed to be useful for CPU mining, great for coins you can mine with nothing but your desktop or laptop computer, making mining accessible to everyone, not just folks who can afford ASIC machines. Most CryptoNight coins are forked to be ASIC resistant, meaning they will ensure the coin can only be mined by CPU machines. Popular CryptoNight coins include Monero, Dashcoin, and DigitalNote.
- Equihash: Equihash is another algorithm that is friendly to people mining with desktop machines, laptop computers, and GPUs. Equihash is the algorithm behind popular coins such as Zcash, Zcoin, Bitcoin Gold, and Komodo.
- Ethhash: Ethhash is the algorithm used mainly by Ethereum and its derivatives. It is very friendly to GPU miners and uses Keccak, a hash function that was standard to SHA-3. Coins using Ethhash are Ethereum, Ethereum Classic, Ubiq, and a few others.
- X11: X11 is a hashing algorithm developed by the cryptocurrency devs known as Dash. The algorithm is based on several other different algorithms (including Blake, Subhash, keccak, echo, and more), which make it one of the safer algorithms around today. Coins mined using the X11 hashing algorithm include Dash, MonetaryUnit, Karmacoin, StartCoin, and XCurrency.
- Blake2b: Blake2b is a hashing algorithm based on the Blake 2 function. Blake2b is another algorithm that is friendly for mining with desktop machines, laptop computers, and GPUs, making it another way for almost anyone in the world to get into mining. Coins using the Blake2b hashing algorithm include Siacoin and Nano.
What is the Profitability of the Coins I’m Mining?
Anytime you measure your profitability when mining any crypto, not just Bitcoin, you must factor in several things, such as your hash rate and power consumption. These things will help you reach your ROI (return on investment) for your mining hardware.
Some sites, like WhatToMine, can help you calculate the profitability of mining any coin with customizable fields where you can put your own hash rate. You will be prompted to enter details like your hash rate and expected electrical usage, and the site will help you determine how much you will earn from mining that specific coin.
This is a handy tool for mining operations that are looking at expanding into other coins or just hobbyists and enthusiasts looking to learn more about the technology and set up a crypto-mining project at home.
Knowing your potential profitability will help you decide on other factors later in your mining operation, like switching to mining different coins or purchasing new hardware. Using a profitability calculator will help you see how much of a certain coin you will need to mine to hit an ROI on your purchase of mining equipment.
How Has Mining Hardware Evolved Over the Years?
Mining hardware has evolved quite a bit over the last decade. When Bitcoin was first introduced to the world, absolutely anyone with a computer and an internet connection could become a miner. It was very simple back then because Bitcoin could be mined with nothing but a desktop computer or even a laptop computer. Almost any machine in the world could mine Bitcoin back then.
As a few years went on and more people online became interested in Bitcoin and becoming miners themselves, some new ways to mine the coin started turning up. Some people started using GPUs (graphics cards) to increase their hash rates to earn more coins. There were even USB miners that could be best used by plugging them into a powered USB hub connected to the mining computer.
As the years passed, specialized ASIC mining machines emerged from companies like Bitmain and Avalon. Mining on desktops and GPUs became less profitable and eventually not profitable at all.
While mining Bitcoin on desktops and GPUs is still a possibility, it is not feasible because these machines will probably never find a block and will likely never see a reward. To get into Bitcoin mining these days, you must purchase an ASIC machine to mine profitably.
However, if you are interested in mining with desktop machines and GPUs, there are still many cryptocurrencies out there that are known to be ASIC-resistant. This means that the developers of the coins want to keep that crypto open to be mined by everyone, and they will literally fork the coin if someone finds a way to mine it via an ASIC machine.
Some popular coins that are still able to be mined by desktop machines and GPUs are Monero, Electroneum, Bytecoin, Ethereum, and more.
How Can You Start Mining?
Getting started with Bitcoin mining isn’t as hard as many people make it seem. Mining is a pretty straightforward task and requires a little technical knowledge to set up, depending on what type of miner you have.
With any ASIC miner, you will need to purchase the miner and its power cord separately most of the time, although sometimes you can find deals with the miner and the power cord together through some sources online.
Remember to look for reputable mining brand names like Bitmain. Several scam sources are out there looking to rip off people new to crypto mining. So, make sure you only purchase from trusted sources, like straight from the manufacturer themselves or through a verified platform like Amazon or eBay.
Once you have chosen and purchased your ASIC miner, you will be ready to begin the mining process, generate your own Bitcoins, and contribute to the Bitcoin network.
Here’s a handy primer on how to get your miner set up, configured, and mining away for you.
- Connect the PCI-e pins to the miner’s motherboard.
All ASIC miners feature multiple Peripheral Component Interconnect Express (or PCI-e) cords that must be plugged into the motherboard of the miner to make it function properly. The first step will be to ensure all of these PCI-e cords are properly inserted into the board.
- Plug in your miner’s power supply to the back of the miner.
Your miner’s power supply should plug snugly into the back of your mining machine. Make sure it is inserted all the way so it doesn’t reset itself later.
- Ensure the area is well-ventilated before plugging the miner into the wall.
Before plugging the miner in and getting ready to start mining, you will want to ensure the room you’re keeping it in is well-ventilated. Miners can generate heat pretty quickly and need to be kept cool to function properly.
Make sure your room is ventilated well, and have some fans running and pointing at your miners if necessary. Taking good care of your miners will ensure they live long.
- Plug your miner into the wall.
You should now be ready to plug your miner into the wall. You’ll hear a slight whirring sound as it starts up. You’re now ready to connect it to your network and put it on a mining pool.
- Get your miner connected to the internet.
ASIC miners aren’t able to connect to the internet via Wi-Fi, so you will have to make sure you have some Ethernet cables on hand. Depending on the manufacturer, you’ll find an Ethernet jack on either the front or back of your miner. Plug one end of your Ethernet cord there and the other into one of the Ethernet jacks on your router. Now, you need to find your miner on the network.
- Identify your miner on your network and bring up its web portal.
Running a network scanning app like Fing will show you every device connected to your router. Find your miner on it after plugging it into the router, and note your miner’s IP address. You will need to visit your miner’s IP address in your web browser on another computer to interface with your miner. When you reach the miner’s web portal, you can tweak some of its settings and then move on to the next step: getting it set up with your favorite mining pool.
- Connect your miner to your chosen pool.
If you researched mining pools earlier, you are now ready to point your miner at your favorite one. Write down the connection information for your favorite mining pool. Make sure you have already added your wallet address to your pool settings on your pool account for quick and easy withdrawal.
In your miner’s web portal, you can plug in the mining pool information you found earlier and save it. You should now be joined in and mining with your mining pool.
- Happy mining!
You should now be mining away. Make sure you check on your miners often, and don’t let them get too dusty or hot. Take good care of them, and you’ll be able to keep mining for quite a while.
What Should You Look For When Purchasing Bitcoin Miners?
When you are looking at purchasing some hardware for mining Bitcoin, there are several factors you should consider and keep in mind. You’ll want to think of the price you’re paying and when you might see an ROI, and you’ll need to consider some factors of the machine as well, such as its hash rate and efficiency.
Let’s take a look at some things to consider when buying your first Bitcoin miners.
Price For The Miner
The price you pay for your miner will vary greatly depending on its condition and where you are buying it from. If you are buying a brand-new miner straight from the manufacturer, you should expect to pay quite a bit more.
It is interesting to note, however, that used Bitcoin miners can be found on Amazon and eBay for quite a considerable discount, with some popular models going for as low as a few hundred dollars.
Buying them used through one of these platforms also offers you a guarantee and a return most of the time.
In the world of crypto mining, hash rate is a very important factor that can be a make-or-break deal in making a purchase.
The machine’s hashrate is essentially the speed that it can mine. Some manufacturers produce machines that are just able to produce a better hashrate. Bitmain, for example, produces ASIC machines that are able to reach from between 15 to 20 terahashes per second.
The better your machine’s hashrate, the quicker and easier it will be to help find and solve blocks. It is also important to remember that the hashrate can decide the machine's price.
Efficiency Of Power Consumption
One thing to remember about Bitcoin miners is that they do not skimp out on power consumption. These are not machines that are going to save you a ton of money on your electric bill because the name of the mining game is turning electricity into Bitcoin.
When measuring the profitability of your mining operation, you must consider the cost of electricity in your overall mining profits. The more machines you are running, the higher the amount of electricity you will use, so make sure you are aware of that going into the process. This way, you won’t be surprised when your electric bill is slightly higher than normal.
Who Are Some of the Biggest Miner Manufacturers?
If you are someone who is completely new to the world of Bitcoin mining and eager to jump right in, you should get acquainted with some of the big names in the world of mining machine manufacturers.
The manufacturer should be an important factor when you are choosing which ASIC machine you’d like to purchase for your mining expeditions.
You want to make sure your mining hardware comes from a trusted manufacturer, so you know you are paying for a good quality machine.
Lucky for you, there are several big and trusted manufacturers of ASIC mining machines in the Bitcoin mining game. Let’s take a look at some of these big-name manufacturers:
- Bitmain: Arguably the most popular and most profitable Bitcoin mining manufacturer in the world, Bitmain has been around for a long time and delivers quality machines for mining Bitcoin and several other altcoins, like Litecoin and Dash. Bitmain makes the ever-popular “Antminer” line of ASIC mining machines. Every miner from Bitmain achieves a pretty high hashrate, and people who have been using their mining machines for years report good quality machines with great speed and reliability. Products from Bitmain won’t come cheap or brand new, but the purchase is very worth it. Used Bitmain Antminers can be had on Amazon and eBay for quite the hefty discount. Aside from making ASIC mining machines, Bitmain also created and still operates two mining pools for Bitcoin miners all over the world, the popular AntPool and the BTC.com Pool.
- Halong Mining: Halong Mining began as a crypto startup, but they have recently grown into a trusted name. They recently released the new Dragonmint T16 miner, making great quality mining machines that offer a nice hashrate of around 16 terahashes per second.
Halong Mining miners have quickly become a contender to take on Bitmain’s quality miners, and the company is quickly gaining favor with Bitcoin mining enthusiasts all over the world.Halong Mining’s first batch of hardware shipped out in March of 2019, so while they are still a relatively new company, it speaks volumes about how many people have such good things to say about the company this early on. Expect plenty more great products from Halong Mining in the future.
- GekkoScience: GekkoScience is a mining company based in the United States. GekkoScience creates something a little different that isn’t seen as much nowadays – USB micro miners. These micro miners are able to plug into computers via USB and mine for cryptocurrencies, and they have smaller integrated ASIC chips on board for the task.These are great for people wanting to learn about mining without spending as much money or using as much power. USB micro miners are not as power hungry, but also don’t have a huge hashrate, so don’t expect to make huge profits out of them. They are better for supplementing an existing mining setup or just learning about mining in general with some cheaper hardware.
- Canaan Creative: Canaan Creative is an instantly recognizable name in the world of hardware Bitcoin miners, known for being the creators of the wildly popular Avalon ASIC Bitcoin mining machines. There is an Avalon controller inside their miners that has the ability to attach four miners to one network.The cost of one of their miners is a bit cheaper than a more expensive miner from Bitmain, but they are not quite as efficient. The average hashrate of a Canaan Creative ASIC mining machine is about 7 and a half terahashes per second.
- Ebang: Ebang is a manufacturer of ASIC mining chips. These chips are a little pricey, usually coming in somewhere in the price range between $700 and $1200. While that can be a good chunk of change, you know you are making a quality purchase when you buy with Ebang. They produce ASIC mining chips through using 14nm engineering technology, which can help speed up the hashrate of the mining chips.
Most of Ebang’s ASIC mining chips are able to hit hashrates between 6 and 9 terahashes per second.
- Bitfury: Bitfury was founded in 2011 and offers Bitcoin mining machines as well as some software services. Bitfury regularly makes $100 million annually and kicks out some truly impressive hardware.
They recently put out a miner that reaches an incredible 80 terahashes per second, which is no joke. Bitfury will be a company to keep an eye on as they keep releasing new hardware.
Those are some of the most popular names in the world of Bitcoin mining. With all of those things in mind, as well as what you learned before about Bitcoin mining and how to get set up with your hardware, it is finally time to dive into some of the best options on the market for purchasing ASIC Bitcoin mining machines.
Without further ado, let’s dive right into learning about some of the best ASIC mining machines money can buy.
The Best Bitcoin Mining Machines Currently on the Market
Hardware for mining Bitcoins has evolved so much over the years. What we could once mine from our own desktop computers now requires dedicated machines that aren’t always on the cheap end of the scale. Luckily, as you read above, plenty of great and trusted manufacturers exist to help you find the right Bitcoin mining hardware for you at just the right price.
Here are the absolute best ASIC mining machines you can find today, with a little detail on each one and what you can expect out of it after purchasing! Remember, since we are looking at machines that mine Bitcoin, all of these ASIC mining machines will mine only using the SHA-256 hashing algorithm.
The new Tardis mining machine from Bitfury is one of the most powerful miners that has ever been created. Bitfury has really done something brilliant here, creating a miner that can reach a staggering 80 terahashes per second. The Tardis is not meant for the mining enthusiast or hobbyist, this machine is aimed instead at enterprise level mining operations.
Labelled an “enterprise grade mining server”, the Bitfury Tardis doesn’t come cheap either. It is priced at an eye watering $7000, but with that price you also get the knowledge that the miner you are buying is server level equipment that will last ages, as well as having one of the highest hashrates ever produced on a single machine.
This is one machine that will most definitely have no trouble at all finding blocks to solve.
Bitmain Antminer S15
Bitmain’s popular Antminer “S” line has always been one of the most popular lines of mining hardware to exist in the world. Championed for years in the Bitcoin mining space as being some of the best producers of Bitcoin mining hardware and ASIC machines around, Bitmain continues that title with the Bitmain Antminer S15.
This ASIC machine proudly carries on the Antminer “S” name line, bringing with it Bitmain’s first foray into producing a 7nm ASIC chip, as well as two power modes.
The two power modes featured on the Bitmain Antminer S15 are energy-saving and high-performance. This is a new and welcome development from Bitmain, allowing the user to decide which setting they’d like to place their miner at any given time.
The Antminer S15 can achieve quite a high hash rate in the high-performance mode, achieving a hash rate of about 28 terahashes per second in this mode. On the energy saving mode, users can expect a hashrate of about 17 terahashes per second, cutting down on noise, heat generation, and power consumption.
This machine is one of the most ambitious miners released by Bitmain, and it really shows just how much thought was put into it.
Bitmain Antminer S9 Hydro
The Bitmain Antminer S9 has been a very well-known ASIC miner in the mining game for a few years now. It is a tried and proven machine, offering a consistent mining experience, optimal power consumption, and a steady hashrate of around 14 terahashes per second.
The Antminer S9 Hydro from Bitmain is the same loved design of the original Bitmain Antminer S9, but this time around, it sports an integrated water cooled system that helps it reach a hashrate of around 18 terahashes per second.
The Bitmain Antminer S9 Hydro can be had for around $1000.
Halong Mining Dragonmint T1
Halong Mining is a newer manufacturer, but it has already gained the trust and attention of many in the community with the 2019 release of the Halong Mining Dragonmint T1. It reaches a much lower level of power consumption than many of the other machines on this list, and it has a few neat features. The Dragonmint T1 features a unique algorithm called ASICBOOST, which grants the miner around a 20 percent boost in efficiency.
The Halong Mining Dragonmint T1 produces a hashrate of around 16 terahashes per second, and can be had for about $2700.
If this ASIC mining machine is any indication, we can expect plenty more great machines from Halong Mining in the future.
Bitmain Antminer V9
The Antminer V9 from Bitmain is an interesting machine. It is probably the best way for someone completely new to mining or who has a lower budget to get into ASIC Bitcoin mining. It is not Bitmain’s most powerful ASIC mining machine, nor anywhere near the most efficient or expensive. What this machine is, however, is cost-efficient and a great entry point into the world of mining.
The Bitmain Antminer V9 is a brilliant way to get into the world of mining if you don’t mind your power consumption going up a little bit.
You won’t find an energy saving mode on this machine. The Bitmain Antminer V9 uses the same ASIC chip as the one found in the Bitmain Antminer S7 and typically produces a hashrate of about 4 terahashes per second. It's not the highest hashrate, but it's an amazing starting point for anyone new to ASIC mining, as the Antminer V9 can be found online for a little over $100 from some sources!
If you want to snap up one of these cheaper machines, do it while you can, as Bitmain is no longer producing them and can only typically be found on platforms such as Amazon and eBay.
Proudly produced by Canaan Creations, any ASIC mining machine bearing the Avalon name has been much loved in the Bitcoin mining community for years. Avalon miners have always been known for being quality machines that are efficient and produce decent hashrates. In those departments, the AvalonMiner 741 is certainly no letdown.
This ASIC Bitcoin mining machine features a staggering 88 chips operating as one to make this unit go, as well as to keep it running at all times with no faults. The AvalonMiner 741 is able to achieve a hashrate of around 7 and a half terahashes per second.
Bitmain Antminer S9
No list of the best ASIC Bitcoin mining machines on the market would be complete without mentioning the Bitmain Antminer S9. It is no longer the most powerful ASIC miner, but it is still in wide use and still a huge favorite by the mining community, which speaks volumes for itself.
Not only is it still a very capable machine in the ever-competitive and ever-changing world of ASIC mining machines, but it is also on the cheaper side these days. With all of the new miners coming out from Bitmain and other manufacturers, you can now find the Bitmain Antminer S9 for a cool discount on platforms like Amazon, eBay, and other third party resellers. The Antminer S9 can mine at a decent 14 terahashes per second.
And There You Have It!
You are now equipped with plenty of frequently asked questions about Bitcoin mining machines, the lowdown on ASIC mining, what it is, and some history tips and tricks. You know how to get your miner set up and connected to a mining pool, and you are also armed with a list of some of the best ASIC Bitcoin mining machines money can buy.
With all of this information at your disposal, you are ready to purchase your first Bitcoin mining machines and join the wonderful world of cryptocurrency! Plug your miners in and point them to your favorite pool, and you’ll be mining away, contributing to the Bitcoin network, solving blocks, and earning coins with the remaining miners in your pool. With all of this information fresh in your head, get out there and make your first ASIC miner purchase.
Best of luck, and happy mining to you!