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Bitcoin Mining Hardware Trends Heading into 2020

Posted by QuoteColo on January 25, 2020

Mining Bitcoin is not an easy task any longer. It used to be as simple as mining on your own home computer or setting up several computers with high-quality graphics cards. However, as time went on, mining became more difficult and hardware-intensive. Eventually, there were dedicated machines specifically manufactured to do one thing – mine Bitcoin.

New Options

We will see some new options that are coming to the forefront going into 2020. It is likely that the mining hardware market will become more decentralized. This means that there may be even more companies entering the field and offering machines. Not only will this provide you with more options, but it could also mean that the prices of some of the machines might drop somewhat. However, it might still be some time before there are any appreciable drops in the price of these mining machines.

The Old Standbys

Of course, 2020 will find that many of the most popular companies making hardware, such as Bitmain with their Antminers, will continue to dominate. Bitmain, along with MicroBT, Bitfury, and Canaan, will provide some great machines. These will continue to dominate the field because they have a track record when it comes to creating quality, reliable machines. The older units by these companies are likely to keep selling well, too.

More Power

One of the most important things to consider with Bitcoin mining hosting hardware is the amount of power that it is able to offer. With new models from some of the top companies, we are seeing up to 5x the hashrate as earlier units. This means that they are able to provide a better return on the investment.

Companies making these miners are always trying to find ways to make improvements to their machines. Providing more power is often their go-to option because it is what most people want to see. More power and a higher hashrate simply mean more money for those who are using the miner. Crypto Mining is about a higher profit, after all, so this is a trend that always has been and always will be relevant.

More Efficiency and Lower Energy Costs

While power is important, many companies developing mining machines are also well aware that people want efficient miners. They want to have miners that are going to have lower energy costs and that are still able to mine fast enough to make sense as an investment. While this will not be possible with all of the mining equipment on the market, it will be something that the developers are looking into.

These are just some of the trends that we are likely to see heading into 2020 and beyond in regard to Bitcoin mining hardware. When you are choosing your machines, you may want to look to the future and save for some of the upcoming machines. However, you might also want to look at some of the older options and used machines that are still capable of mining and providing a return on your investment.

Resources: https://blog.hubspot.com/marketing/bitcoin-mining-hardware

https://bitcoinmagazine.com/articles/hashing-ahead-look-bitcoin-mining-2020

Categories: Bitcoin

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