Bitcoin mining is becoming one of the most lucrative and innovative sectors of the global economy. According to data, at the height of the current bull run in April 2021, cryptocurrency mining has generated $3 billion in revenue, which means that crypto miners earned $100,000,000 in profit every day on the average.
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Just 5 years ago, the average daily revenue of the crypto mining industry circulated at around $1 million. In a very short time, this number has increased by almost 10,000%, making cryptocurrency mining one of the most rapidly booming markets in the world. But as it became extremely profitable, it has also become very competitive, and choosing cutting-edge Bitcoin mining hardware is now more important than ever.
All Bitcoin mining is now done using ASICs – specialised Bitcoin mining hardware housed in thermally-controlled data centres with access to cheap power. ASICs are the next step in the development of crypto mining after CPUs, GPUs, and FPGAs: they are able to accomplish the same thing in a much more efficient and profitable way.
The days when anybody could successfully mine cryptocurrency at home on their PCs are long gone. Whether you’re mining Bitcoin, Litecoin, DASH, or a variety of other digital currencies, an ASIC miner is the most effective method to mine crypto.
Because of the rapidly increasing profitability of cryptocurrency mining enterprises, the worldwide crypto mining hardware industry is anticipated to expand to more than USD 2.80 billion between 2020 and 2024. There are many reasons why the crypto mining sector is expanding so quickly: the growing acceptance of cryptocurrency by retailers, massive investments made by large semiconductor companies in mining-specific hardware, and the increasing demand for equipment manufactured in China.
These trends will further add to the growth of the cryptocurrency mining hardware market size in the near future, which will also increase the competitiveness of crypto mining. Fortunately, choosing the best crypto mining hardware will allow you to become a lucrative Bitcoin miner. By reading this article you’ll be able to discover the advantages and disadvantages of the five most popular ASIC mining machines on the market.
Because so many individuals and businesses are entering the crypto mining ecosystem, ASICs are now in high demand and they have become quite expensive. When purchasing an ASIC, the most important thing to consider is its efficiency – the number of BTC that can be generated per day minus costs such as electricity bills and mining pool fees.
Picking an efficient ASIC will help you receive a return on your initial investment as soon as possible. For best efficiency, a top-quality PSU (power supply) is usually required in addition to the AIC unit.
We’ve listed the current pricing, hash rate, and power usage of each device to help you make your decision. We evaluate the best bitcoin mining ASIC devices based on reputation, functionality, the convenience of usage, and other factors.
While we have extensively discussed different ASICs in this article, the question you may face, where to buy these from. Among the available options, we have seen CoinMiningDirect, a distributor of affordable and efficient crypto mining hardware based in Sweden (with a warehouse in the US), offering a variety of powerful Bitcoin mining machines. If you decide to purchase any of the ASICs listed below, CoinMiningDirect may be the preferable option as it claims to ensure maximally reliability as they work on the mission to make mining devices accessible to average people. We also found their promised fast delivery to be worth going for.