What Are ASIC Miners
Asic miners are built and designed to be used in incorporate microprocessors that are made for mining Bitcoin, Ethereum, Lite coin, dogecoin, Kadena and other cryptocurrencies that use proof-of-work algorithms.
This devices have several microprocessors emerged in a circuit which comprises over a hundred million logic gates, packed into circuit chips and sealed into casings. Each consists of cables (outlets/ports) allowing connection to a power source, a computer and the Internet.
It is possible to connect multiple ASIC miners together to mine with more hash rates as we can connect them to a computer through USB or other methods using USB hubs.
At this point, you will need to locate their IP addresses using a computer program, create a wallet and configure to a mining pool using mining programs on the computer and then, manage them.
Fact: The mining hardware market will grow by US$ 2.9 billion, at a CAGR of over 7% during 2020-2024 and this growth will be propelled by the ASIC mining hardware being sold online and in retail facilities that gradually keep arising.
The Mining hardware market:
-First, check the profitability of the best ASIC miners and cryptocurrencies you want to mine using online profitability calculators, before proceeding to purchase. Device pricing also varies from one manufacturer to another and depending on whether it is new or used.
-Then confirm other factors like, heat dissipation, energy consumption, decibels, and reviews about the best ASICs available on the market.
-Maintenance of this hardware also affects durability and profitability and better devices are being manufactured so it’s advised to estimate the lifespan of an ASIC when buying and later determine when to dispose before or when it turns not profitable.
-And lastly Mining pools should be considered for mining any cryptocurrencies, otherwise, you make little or minimal returns.
Profitability of Asic miners
Crypto currency mining is profitable if the hardware is efficient and if there’s cheap electricity and although mining hash rate adjustments is an obvious factor of demand and pricing, profitability also depends on the price of a crypto currency.
The profitability of an ASIC miner for given crypto is checked with online calculators and it is always profitable when it mines through a mining pool depending on the economics of a given block chain and coin.
As of early 2022, it takes about 10 minutes to mine a block, and will award a number of coins to whoever mines it.
Moreover, miners earn a transaction fees between 5-10% of the reward after mining a block.
Is ASIC mining preferable/good?
Yes. They are better than GPUs and CPUs in crypto currency mining and are more powerful in terms of processing power, where they process more data per unit time.
They also save more power and are rated in terms of hashing power or hertz per second (hash rate) either Th/s, Gh/s or Mh/s. Terra hash ratings are currently the highest ratings available.
What ASICs can mine Bitcoin, Ethereum, Kadena and more?
The Bitmain S19 is the currently one of the best Bitcoin ASIC miners so far with the Pro version capable of blasting 110 TH/s of hashing power. The miner has other two models: Antminer S19 and the Antminer T19 and apart from the Antminer S19 Pro.
The Bitmain Antminer E9 is made to mine Ethereum blasting hash rates of up to 3GH/s. Other miners made for Ethereum ASIC mining are the InnoSilicon A10 ETHMaster, and the InnoSilicon A10 Pro which has a hash rate of 500-700 MH/s.
3) KADENA ALGORITHM
The Goldshell KD6 kadena and Goldshell KD5 kadena miner also known as the KD6 and KD5 are probably at the top of the rankings when it comes to mining the kadena algorithm propelling hash rates of 29,92Th/s and 18Th/s respectfully.
Other Kadena mining hardware available on the market is the Goldshell KD2 miner which many consider handsome when it comes to returns but doesn’t yield as much as the fore mentioned.
There are numerous ASIC miners available for mining other crypto like the Bitmain Antminer L3+ (504Mh/s) for Litecoin mining, Antminer D7 (1.286Th/s) for Dash and the Antminer Z15 (420Ksol/s) for Z cash mining.
NOTE: There are more hardware available for other crypto currencies. Some more than one for a single coin, It all depends on the pricing and durability.
For more information on other mining haredware, their profitability and algorithms you can search Asicminervalue.com for referrals.