All About Mining Hardware in 2020: Choices and Differences

All About Mining Hardware in 2020: Choices and Differences

Twenty years ago, “making” money on a home PC was only associated with illegal activities. But then came the era of cryptocurrency and millions of people began to completely legal (or semi-legal) “print” digital assets on their computers.

With the development of the cryptoindustry, the power of conventional system blocks ceased to correspond to the level of computational complexity and there was a demand for special equipment for mining.

Choosing equipment for mining cryptocurrency

The success of a digital asset mining business depends on the efficiency of computing devices. It is important to purchase inexpensive but high-performance hardware. In addition, cryptocurrency mining hardware should be fairly simple to set up and maintain.

The principle of robots, how miners are rewarded

Mining is the decryption of a cryptocurrency block, which consists of mathematical calculations based on the results of previous solutions. A chain of ready-made blocks and transactions is called a blockchain. The block includes a set of cryptographic data, internal transfer operations, a list of miners’ wallets and a unique digital code. For the generation of a new block, miners receive a reward.

In solo mining, the award goes to the owner of the cryptocurrency mining equipment on which the side was found. When working in a pool, the profit is distributed according to the contribution of each participant. An independent search for blocks of cryptocoins is possible if there is serious computational potential.

There is a third type of cryptocurrency earning this cloud mining… For cloud mining, the user leases a certain percentage of the data center’s capacity. This method is the most comfortable, but it is associated with a greater risk of loss of investment.

What kind of mining machines can you use?

In modern conditions, profitable mining of digital assets is possible on ASICs or graphics accelerators. Mining on central processors has long ceased to be profitable, and special FPGA boards, due to their high cost and unstable operation, cannot compete with video cards and asic miners.

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Bitcoin mining hardware

To get the most expensive BTC coin, you need ASIC mining equipment. This is an integrated circuit device that mines a specific cryptocurrency. To mine Bitcoin, models are suitable Antminer S7/S9/D3… The main criteria for the profitability of an ASIC mining device are hashing speed and power consumption. The performance of ASICs is measured in gigaheshes and teraheshes, and the power consumption of some models reaches 2.2 kW / hour, at a price comparable to the cost of a farm for mining on video cards.

The calculation of the payback of Bitcoin mining is performed on specialized online calculators, for example, WhatToMine.

Advantages and disadvantages

ASIKs are mined mainly by experienced prospectors with certain skills. Some companies selling mining accessories offer hardware customization services as a bonus on purchase. However, preparing for the launch of a device for ASIC mining is not particularly difficult.

Integral miners’ advantages:

  • Compactness compared to a farm on video cards.
  • High profitability. The first models paid off in just a week of work. Of course, now the terms have increased significantly, nevertheless, ASIKs are superior in efficiency to GPU-rigs.
  • Ease of use. You do not need to search for timings for BIOS firmware, select overclocking parameters, special utilities and other dances with a tambourine.

Disadvantages of mining devices:

  • Possible purchase difficulties. It is most profitable to purchase directly from the manufacturer, and ASIC mining equipment is supplied from China. Taking into account possible difficulties at customs, delivery may take several weeks.
  • High noise level of the cooling system of the mining machine. It’s hard to get used to the roar of ASIK fans. Most likely, you will need to build a sound-absorbing box or rent a place in a mining hotel.
  • A sharp loss of profitability after the release of a new series. Consequently, the liquidity of used equipment is low. Selling an old ASIK is very difficult.
  • A short warranty period from the manufacturer (3-6 months). GPUs come with a 3-year warranty.

Before buying a device for mining on integrated circuits, you need to carefully weigh the pros and cons, given the narrow profile of the equipment and price fluctuations in the cryptocurrency market.

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Mining hardware

Unlike coins based on SHA256 and Scrypt algorithms, Ethereum is mined mainly on video cards, although asic machines for Ethereum and Ethereum Classic have already appeared on sale. When assembling a rig, mining components are selected according to certain criteria. You need to purchase:

  • Graphics processors. Models fit RX 570, 580, 470, 480, 590 from AMD, or 1060, 1070, 1080, 2060, 2070, company Nvidia… There are also more powerful video cards such as RX VEGA and GTX 2080, but their use will greatly increase the cost of a mining farm.
  • Power Supply you need to buy with a margin of 15-20% of the total consumption of mining components. On large farms, two or more PSUs are used, connected through a synchronizer.
  • The motherboard must have the number of PCI Express slots corresponding to the number of video cards. If there are not enough slots for connection, you can use splitters, but their use can cause difficulties in setting up on some OS assemblies.
  • The central processor does not play a significant role in the production of cryptocurrency. It is selected according to the socket of the motherboard.
  • RAM must be at least 4GB.
  • You can take a small hard disk, 64 GB is enough, of which at least 25 GB is allocated for virtual memory.
  • Raisers for external connection of the GPU to the motherboard.

The cost of a farm for mining on four video cards is at least $ 1500.

Farm benefits and pitfalls

The advantages of GPU rigs are:

  • A wide range of mining algorithms, the ability to reconfigure to a more profitable coin.
  • Hassle-free sale of used mining components or reorientation to other tasks.
  • Long warranty period for new equipment.
  • Home use due to the relative quietness of the graphics devices.

Of the shortcomings, first of all, it should be noted:

  • Less efficient mining, the payback period of farms on video cards is longer than that of asic devices.
  • The need for special skills to assemble and configure the rig. Mining accessories can easily fail if mishandled.
  • Large size GPU farms. Video cards cannot be placed close to each other, so the frame of the mining rig turns out to be quite voluminous and cumbersome in appearance.
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How much electricity does mining consume?

According to statistics, professional mining accounts for over 1% of the world’s energy consumption. The cost of electricity directly affects the profitability of mining virtual money.

  • For asic miners, the power consumption is indicated in the technical specifications of the device. The power consumption of farms on video cards depends on the number of “miners”. On average, about 1 kWh.
  • A mining rig with six GPUs consumes approximately 900 W / hr when undervolting on each GPU device.

Companies that sell ready-made mining devices

A large batch of ASIKs is bought directly from the manufacturer or an official distributor. Retail customers should contact reputable online retailers and retailers. When mining with video cards, the rig is assembled by the owner. But there are specialized shops selling ready-made “drilling rigs”, which is very convenient for beginners. The cost of assembling a mining farm depends on the choice of components.

List of large companies in the Russian Federation:

  • Wattson
  • A51C
  • Hotmine
  • Cryptouniverse
  • BitBaza

The cryptocurrency business has enriched many entrepreneurs, but it is quite possible that it has brought someone to bankruptcy. The blockchain industry is not only a way of earning money, but also a new model of financial, economic and social relations. Ahead is a long period of establishment and development, but the process is irreversible.


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