Probably, you have no idea that the top Bitcoin mining hardware has progressed since 2009. It allows new opportunities!
Initially, the miners had to use so-called CPU. It refers to the central processing unit. CPU does not perform the expected high speed of mining. Thanks to the modern technologies, it became possible to discover quicker and more efficient alternatives. Besides, CPU used to bog down the host computer’s system resources. GPU is the next technology that stepped in. It stands for the graphics processing unit. That innovation showed the sigifiant process. For instance, the speed of hashing information increased by 50-100 times. In addition, this solution required less power and did not bog down the resources of the host machine.
Still, GPU was not the best decision. How about mining even faster at a lower energy consumption? That is what the experts thought in winter 2011. Then, they offered special equipment for mining and other operations in the digital currencies known as cryptocurrencies. The newly developed custom equipment and tools set higher standards. By that time, the firstly invented equipment for mining was applied only to Bitcoins. Field-programmable gate array processors were in the heart of functionality then. It was possible to use them along with the devices with the help of standard USB connection.
This approach was not the fastest ever possible, but it consumed even fewer resources. That is why the process became even more productive. As the years passed by, the mining equipment has evolved to the special storage and exchange hardware. Today, not only Bitcoin holders benefit from using such innovations.
What is the top preferred bitcoin mining hardware today?
Right, you can use software, hardware, or various online options to trade the coins or keep them, you can also exchange them for goods on the special platforms that accept cryptocurrencies.
Application-specific integrated circuit (ASIC) is what dominates the market today. It is the safest, fastest, and cost-effective way to do operations with bitcoins and some other popular cryptocurrencies that do not involve any third party like the central banks. Compared to the old methods like GPU, ASIC saves plenty of resources for the miners. It operates at incredible speeds, offering a fast turnaround of coins. The one who decides to invest in the specific cryptocurrency should analyze the companies that offer the top hardware solutions for mining.
Preferred Mining Hardware – Compare and Contrast
A price per single hash, as well as electrical efficiency, are the primary factors to consider when choosing the right mining hardware for bitcoins and other similar cryptocurrencies: ANTMiner S7, AntMiner S9, AntMiner U2, BPMC Red, and Avalon 6. You should analyze the two factors, cost and electricity efficiency when choosing the proper mining hardware on stores like Amazon or eBay. Thus, it is not a problem to get such type of equipment today. As you can see, it is not too expensive – you can earn much more thanks to that hardware and cryptocurrencies!
The complexity of bitcoin mining is predetermined by the popularity of this cryptocurrency. With every new day and extreme growth of popularity and new participants, the miners face more difficult challenges.
How Do the Miners Earn?
The miners are faced with multiple, complex math problems that look like incredible puzzles every day. They have to solve those problems like in the school grade with the difference those problems are solved by the smart algorithms, and the best “student” gets a solid reward. Except for the reward and coins, the winning miners (those who find the solutions before the others) obtain various fees on transactions. That is how so many people involved in bitcoin trading have become millionaires in a couple of years. The art of mining is difficult, but the right hardware will increase your chances to win.
If you select ASICs, know that they are compatible with bitcoins alone. You may solve bitcoin blocks with that.
The number of used hardware also defines the complexity of the problems one has to solve to get bitcoins. Such hardware, however, takes care of the operation’s security, so it is worth those efforts. Today, it is impossible to imagine the way to compete without having ASIC as other types of equipment are too weak.
If you have a desire to own the actual hardware, buy Bitcoin cloud mining contracts. The number of options is also expanding, but this list includes the time-tested, top-preferred ones.
Bitcoin Cloud Mining Contract Providers
Another alternative is to buy Bitcoin cloud mining contract. Mind that it is not secure as many Bitcoin cloud-mining scams were noticed recently. Here are the most popular cloud mining contract options:
Hashflare: This one proposes SHA-256 mining contracts and highly profitable SHA-256 coins. You have to buy minimum 10 GH/s.
Genesis Mining: It is the biggest and most popular Bitcoin/scrypt cloud mining platforms. You may choose between 3 cloud mining plans.
Hashing 24: This provider applies the most recent ASIC chips that guarantee maximum performance, speed, and effectiveness.
Minex: This one appears in the shape of low-cost simulation game format.
Minergate: It is possible to use both pool/merged and cloud mining services for Bitcoin.
Eobot: It is enough to invest at least $10. It is possible to break in 14 months.
MineOnCloud: It currently possesses roughly 35 TH/s of mining equipment for rent.