Of course, in parallel, interest is growing in the release (mining) of cryptocurrencies as a means of earning, which has led to the emergence of an entire industry that produces specialized equipment for cryptocurrency mining…
What is cryptocurrency mining
If paper money is printed by the relevant institutions of different countries, then cryptocurrencies are created virtually, without rigid binding to one center of money emission. The production or extraction of various cryptocurrencies is called mining, and the process itself is based on solving complex mathematical problems using special algorithms using ordinary computers, special devices or computing systems called farms.
The mining process can theoretically be compared to the distribution of files via a torrent network. Each user who connects to the cryptocurrency mining system participates in the work on the issue of new coins and at the same time maintains the operability of the entire network, transmitting information about the cryptocurrency transactions carried out along the chain. As a result, both the process of mining new coins and their further use in mutual settlements have a high degree of security due to the large-scale distribution of computing processes among thousands of users.
It was the high security factor that made cryptocurrencies a popular means of payments in the Internet space and attracted first individual enthusiasts to the process of their mining, and then large companies specializing in the production of special equipment for mining.
Necessary equipment for cryptocurrency mining
Initially, cryptocurrency mining equipment was a regular home PC running a program that uses the computing power of a processor or video card to calculate mathematical problems that ensure the production of cryptocurrency. It was in this way that the most popular currencies began to be mined: bitcoins and litcoins. At the dawn of their existence, the power of an ordinary PC was quite enough to process the required amount of data, but with the growth of the volume of issued currency, calculating new blocks began to require more effort, which led to a significant slowdown in the speed of creating new coins even on the most high-performance computers. Simply put, the cost of mining one coin began to exceed its value.
To solve this problem, ASIC systems have been developed, consisting of chips adapted only for calculations related to the production of cryptocurrency. The emergence of such equipment launched a new wave of popularity of Bitcoin and Litecoin mining, at the same time unleashing competition among manufacturers of ASIC systems, which allowed them to reduce their cost to reasonable limits.
The best Bitcoin mining hardware
Equipment for mining bitcoins is in the greatest demand among the “miners” of cryptocurrencies. Today, there are hundreds of different technical solutions from dozens of companies on the market, but ASIC systems from KnCMiner and CoinTerra have proven themselves the best.
CoinTerra was one of the first to enter the mining equipment market, presenting the TerraMiner line of devices, which has its own liquid cooling system and a set of chips that provide impressive computing power. CoinTerra devices are time-tested and proven to be effective not only in terms of power, but also in terms of low energy costs.
KnCMiner was the first to use chips of its own design, creating the most high-performance devices, the power of which allowed at the time of the release of the first model to earn at least 1.5 bitcoins per day. At the same time, KnCMiner ASIC systems are about 2 times more expensive than CoinTerra devices. However, despite the high price of the devices, it is the equipment from KnCMiner that currently provides most of the emission of new bitcoin coins. KnCMiner equipment is not available on the open market, it can be purchased only by pre-order through the company’s website.
Among other manufacturers offering specialized mining equipment, you should also pay attention to the products of Black Arrow and UFOMiners. The first company on this list has been on the market for a long time, and UFOMiners is rapidly gaining popularity, releasing devices not only for Bitcoin mining, but also for other popular cryptocurrencies, including Litecoin.
Mining equipment in 2017
Despite the presence of a large number of high-performance mining devices, they will not bring super-high profits in 2017 due to their massive distribution. In fact, cryptocurrency mining is currently close to a state similar to the situation when the era of mining on conventional PCs came to an end. It is still possible to earn several hundred dollars a year, but in order to receive tangible profits, measured in thousands of dollars, it is necessary to use special cryptocurrency farms, which are computing complexes with a large number of ASIC devices united into a single computer network.
If we talk about the best mining equipment in 2017, designed for the creation of computing farms, then in terms of price / performance ratio, the AntMiner S9 and Avalon6 devices are out of competition, which are distinguished by good energy efficiency and an acceptable price within the range of up to $ 2,500 for the AntMiner S9 and up to $ 600 $ for Avalon6. If there is no money to purchase ASIC devices, but you want to start mining, then you should pay attention to cloud services that provide equipment for rent. The most successful and proven cloud cryptocurrency mining company is Genesis Mining.