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Best Bitcoin Hardware to Be Profitable Mining Less than 5 Total Rigs

Posted by QuoteColo on July 09, 2018 - Updated on June 25, 2018

People get into mining Bitcoin because they want to make a profit, naturally. However, many who are just starting up in this field have no idea what they should be doing if they want to be successful, at least when it comes to choosing the right type of setup. Many things have changed over the last several years when it comes to Bitcoin, and today, it is more difficult than ever to make a profit if you are not using the right type of hardware.

The days of making money using just a graphics card or a CPU are over. They simply can’t compete when you have dedicated pieces of ASIC hardware on the market that can do more work in less time.

Of course, those dedicated pieces of hardware are not cheap. The old adage that you have to spend money to make money is very true here. However, you need to find rigs that are going to be cost effective for you and that will allow you to make a real profit.

Why You Should Use the Antminer S9

This piece of hardware is, hands down, the most popular option currently when it comes to mining Bitcoin. It offers up to 14Th/s of hashing power, and it still only uses 1,350 watts of power. It has a controller that is built into the system, and it is highly likely that having a nice setup with up to five of these machines could net you a profit relatively soon when compared with other options. In fact, the breakeven point for this machine is currently about nine months.

What Other Options Could Work?

While the S9 is currently the best option on the market for making a profit from your Bitcoin mining efforts, there are some other options out there that could work, as well. The cost of these pieces of hardware, whether they are bought new or used, will be less than the S9, so if price is a factor for your setup, they could be a good option.

If you would like to stay in the Antminer family, there is always the S7. This device is capable of providing you with 4.73Th/s, and it consumes 1,350 watts. Note that this is the same as the S9, so spending more on the AntMiner S9, a more powerful unit, does not mean that you will be spending more on your power usage. The S7 is an efficient machine that has a built-in controller, and it causes less noise than the S9. The breakeven point for a single S7 tends to be about 2.6 years.

Another option is the Avalon 6. This offers just 3.5Th/s of hashing power, but it only uses 1050 watts. It will require a separate controller, as it does not come with one of its own. It is the quietest of the three options discussed here, and it tends to be cheaper than the S9 by quite a bit. While this could be a good choice for some, a single machine would have a breakeven point of seven years. Even with a five rig setup, it can take time before you start to make a profit.

Something to Consider When Trying to Make a Profit

While having the right mining rig is certainly important for your setup, you also need to think about how much you are spending on energy. If the costs of electricity are too high in your area, it could mean that it is cutting into your profitability substantially. This may mean that instead of running your rig from home, you might want to think about having the rigs hosted by a company in another state or even another country where the cost of electricity is lower.

Categories: Bitcoin

Comments(2)

  1. AugustineAugust 15, 2018 at 6:22 pm

    I want to invest in bitcoin mining, how do I get started?

    Reply

  2. Craig McConnelDecember 09, 2022 at 3:33 pm

    Start here :https://www.quotecolo.com/bitcoin-miner-hosting/

    Reply

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