List of the Best ASICs for Mining – Market Analysis

List of the Best ASICs for Mining - Market Analysis

Those who engage in mining know that the highest performance are specialized devices called ASICs. They are reliable and highly efficient, though less versatile than video card-based farms. The first integrated circuit devices were developed back in 2012. They soon completely displaced video cards from bitcoin mining, and over the next few years, took control of a number of other blockchain ecosystems, and now finally got their hands on the Ethash algorithm. Probably in the future, cryptocurrency will only be mined on ASICs or hard drives. Except for some projects, for which ASIC-mainers will be produced will be meaningless.

This article discusses the principles of an ASIC for mining, as well as the issues involved in acquiring, setting up and using them.

What is ASIC, the technical part

ASIC (from the English phrase Application Specific Integrated Circuit) is a special device designed to perform cryptographic calculations related to mining digital currencies using one or more encryption algorithms

These devices use integrated circuits designed for the most efficient computation of the specified hashing functions, as well as specially designed housing and cooling system.

Because of this, they have the following advantages:

  • high hash rate;
  • fast startup, easy maintenance;
  • low power consumption per unit of computing power compared to other devices such as graphics cards and processors;
  • good price-performance ratio, which should provide high profitability and fast payback;
  • the presence of a reinforced case and a high-performance cooling system facilitates the installation and connection of equipment.

At the same time, they have a number of drawbacks:

  • inability to perform calculations on algorithms that differ from those provided by the manufacturer;
  • increased noise and heat generation, typical of high-performance server equipment, and even more;
  • powerful Asics, as a rule, require a separate power supply;
  • it is difficult to find specialists and components to repair them;
  • the potential possibility of getting on the list of equipment that has regulatory restrictions concerning the use of encryption devices;
  • rapid obsolescence and inability to sell the equipment after a significant increase in the complexity of mining, reducing the profitability. Unlike Asics, video card-based mining farms retain their residual value even when the profitability of mining decreases, so they can be sold as computer equipment.

Asics for mining, the main parameters of the choice

Like any other mining equipment, the following parameters are the most important when choosing ASICs for the consumer:

  • cost;
  • performance (hash rate);,
  • mining algorithm;
  • profitability and payback period;
  • complexity of connection and operation;
  • power consumption;
  • noise level;
  • warranty period and availability of repair service;
  • other, less important indicators, such as weight, size, and others.

One of the options for mining cryptocurrencies is to rent Asics. You can order computing power from a cloud service, or rent it from local vendors. When signing a contract for mining in the cloud, you need to be wary of scammers, and when looking for Asiki for rent from local firms, you should consider that no one will rent profitable equipment, because it is more profitable to use it for your own needs.

Bitcoin Mining ASICs, Setup

Setting up ASICs for bitcoin and for other cryptocurrencies is about the same and involves following standard procedures, which include:

  • installation at the site of operation;
  • Connecting to a power supply of the required capacity;
  • connection to the local network and the Internet;
  • determination of the local address of the ASIC, which is necessary for its configuration. It is determined using the menu of the router or any other computer connected to the same local network as the ASIC. Run a local network scanner on it and determine the address assigned by the router.
  • Connecting to the ASIC via the local network via a browser and configuring its software, including entering the account data on the pool (its address on the Internet, the port to connect, the vorker, the password, and other necessary parameters);
  • launching and controlling the mining.

For ASIC to work off the money invested in it and bring profit, you need:

  • Install it in a cool, dry and well-ventilated non-residential room
  • Ensure a stable connection to the power grid and the World Wide Web.
  • Get a convenient and secure cryptocurrency wallet for digital coins.
  • Set up the equipment according to the instructions.
  • Learn to work with cryptocurrency exchanges and online exchangers, so that you can exchange digital assets for regular or other cryptocurrencies that are better suited for long-term storage in case of need.
  • Regularly perform preventive maintenance of the mining machine, avoiding the accumulation of dust, otherwise the equipment will overheat and will quickly fail.
  • Constantly monitor the work of ASIC on the pool and, if necessary, change the place of work or switch to another, more profitable cryptocurrency, of the same algorithm.

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