ASIC Mining: Relevance And Profitability in 2021

Mining popular digital currencies has a rather uncertain future. Already today, as the number of Bitcoin users increases, the process of mining cryptocurrency is becoming more complicated and expensive. For example, the software structure of Bitcoin implies an inexorable decrease in the reward for each block produced.

It is noteworthy that in the recent past (10 years ago) one new block “cost” 50 BTC. But the most interesting thing is that this number decreases by half approximately every 4 years.  In addition, electricity tariffs and the overall health of the cryptocurrency industry affect the profitability of cryptocurrency mining.

Features of ASIC mining

The difficulty of mining new blocks on the Bitcoin network has increased significantly recently, so mining this  digital currency using graphics cards or processors has become unprofitable . The requirements for the computing power of mining equipment are constantly growing, so specialized equipment for mining BTC – ASIC miners – was born.

An ASIC   is a microcircuit, a computer chip designed to do a specific kind of work. In other words, this microcircuit is designed to perform only one operation, so it is more efficient than multifunctional chips. “Asiki” very quickly decipher the required algorithm on which this or that digital currency is built. The entire computing power of ASIC miners is focused on finding the hash and performing the necessary calculations, so they are much more profitable than traditional mining equipment.

It is also worth noting that ASIC miners require a relatively small amount of electricity to operate. Thus, they solve another pressing problem of mining – increased power consumption.

What kind of digital currency can be mined with ASIC miners?

But it’s worth noting that ASIC miners are also being developed for mining alternative digital currencies. For example, using ASICs you can mine such popular coins as Bitcoin Cash, EMC, DGB, XMCC, LCC, etc.

Calculations of the profitability of the equipment at the moment:

ASIC S-9 Most reliable with 13.5 TH / s power

1. Deutsche eMark (DEM) $ 9.39 Subtracting electricity income = $ 6.10 per day
2. LitecoinCash (LCC) $ 8.74 Subtracting electricity income = $ 5.46 per day
3. Universal (UNIT) $ 7.86 Subtracting electricity income = $ 4.58 per day
4. DGB-SHA (DGB) $ 7.64 Subtracting electricity income = $ 4.35 per day
5. BitcoinCash (BCH) $ 7.38 Subtracting electricity, income $ 4.09 per day
6. Bitcoin (BTC) $ 7.13 Subtracting electricity, income $ 3.84 per day

• The average profitability of an ASIC miner is approximately $ 4.73 per day, which is 290 rubles per day

The equipment will earn 8 800 rubles per month with ideal operation. The cost of the equipment at the moment is 90,000 rubles, the ASIC will pay off in 10 months

How profitable is ASIC mining?

Note that it is quite difficult to derive any constant indicator of the profitability of ASICs, since the amount of profit directly depends on the type of equipment used, the type of mined virtual currency, electricity costs and many other factors. Cryptocurrency rates are extremely unstable and volatile, so the start-up capital invested in the purchase of mining equipment can return to you, both in six months and in a year and a half.

When analyzing the news data and the rate of cryptocurrencies, it follows that it is not so easy to make money on equipment. But at the moment, an investment in an ASIC miner is very profitable because, according to analysts, the bitcoin rate should grow in the coming months, which will make the income super profitable. With the colossal growth of bitcoin, ASIK will pay off within 3-4 months and will bring net income to its owner. I also want to note that you invest at your own peril and risk and this article is just my opinion about what is happening.