When Bitcoin was conceptualized, one could mine efficiently with the use of a consumer grade CPU. Eventually, as more and more people kept joining the mining process, the network difficulty rose up as a natural reaction. This led some developers to utilize the GPU for solving the Proof of Work hashes required to write transactional data on the Blockchain. While this was considered the go-to way for quite some time, the days for GPU mining are passed as well.
This led some developers to utilize the GPU for solving the Proof of Work hashes required to write transactional data on the Blockchain. While this was considered the go-to way for quite some time, the days for GPU mining are passed as well.
The next step, although utilized by a small number of people for a short time before getting to modern standards were FPGA integrated circuits. These Field Programmable Gate Arrays were utilized a short period between mid-2011 and 2012 before the focus was shifted on the more effective and powerful ASIC-based Mining solutions.
Application Specific Integrated Circuit (ASIC)
Today, the vast majority of Bitcoin mining is done through ASIC-based technology. This acronym stands for Application Specific Integrated Circuit, which represents technology that is intended for specialized usage. In the case of Bitcoin, the ASIC-based miners are highly efficient at calculating SHA256 hashes, which is the cryptographic algorithm that’s used to produce POW hashes.
These chips represent the standard for today’s entry in the business of Bitcoin mining. We wouldn’t consider even attempting to mine Bitcoin with anything less than the best hardware out there, which provides owners with 70% return on earnings.
Comparison of ASIC Bitcoin Miners
ASIC Bitcoin Miners are the chips themselves, and they are usually packaged in hardware that holds utilizes many chips at once. This is how they achieve a high amount of hash power.
Following this link will lead you to an external site, where you can find an exhaustive list of all available ASIC Bitcoin Miner chips on the market today.
There are two major manufacturers of ASIC 16nm chips, which are undoubtfully the most efficient Bitcoin Mining chips on the market right now.
Bitmain
Founded in 2003, Bitmain has successfully climbed to the top of the board and they have produced the best Bitcoin Miners so far, in terms of efficient power usage and hashing power. Currently, there is no better miner than their Antminer S9, which provides you with 11-14 TeraHashes per second (depending on batch). If you’re lucky to find their online store in stock, you can get the best price on these miners directly from them.
BitFury
Founded in 2011, by Valery Vavilov with its headquarters in San Francisco. Today, BitFury is a global presence with offices all around the world. They are the first ones to develop the highly efficient 16nm ASIC chips. They are open for partnerships, and they want to sell their chips, as well as completely portable Petahash strong Bitcoin Mining solutions. You can learn more about them on their website.
Mining Profitability Calculator
This link leads to a Google Search Results page since there are many different calculators which offer varying amounts of functionality when calculating profitability.
Whether you’re thinking about picking up mining, whether home or at a business location, you should strongly consider using one of these calculators to generate statistical information and learn more about individual factors that will influence your profitability.