By James Davis
When it comes to making profits from crypto mining, you must find a balance between the cost of buying mining equipment and its power consumption rate. You do not want to receive block rewards that are less than the expenses incurred on mining Bitcoin. This article discusses some of the most affordable and effective crypto mining hardware in the market.
Top Seven Crypto Mining Hardware
Antminer S19 Pro
This ASIC miner is a product of mining machine producer Bitmain. It delivers a hash rate power of 115 TH/s. The Antminer S19 Pro’s firmware was recently updated, improving user experience and boot time. But how much does it cost? Bitmain’s website (shop.bitmain.com) shows Antminer S19 Pro is priced at $12,000. You can order it from the platform.
AvalonMiner 1246
AvalonMiner 1246 is manufactured and distributed by a China-based company called Canaan Creative. The hardware produces a hash rate power of 95TH/s. AvalonMiner 1246 was first released in 2013. As of June 2023, the equipment goes for $4,500. However, considering its high demand, it may be challenging to acquire it, but you can visit canaan.io to check if it’s in stock.
AvalonMiner A1166 Pro
Another ASIC miner that’s in high demand is AvalonMiner A1166 Pro. The hardware’s hash rate power stands at 85 TH/s. It will cost you $2,500 to purchase it. It is worth mentioning that the manufacturer requires you to order a minimum of five AvalonMiner A1166 Pro to get them delivered to your mining facility. In case you order five, they will produce a combined hash rate power of 400 TH/s, enabling you to make $110 daily. But be prepared for uncomfortable noise because AvalonMiner A1166 Pro is usually very loud.
WhatsMiner M32-62T
With just $1,200, you can get yourself a WhatsMiner M32-62T mining hardware. This ASIC miner was launched in 2020. It offered a hash rate power of 65 TH/s. According to its manufacturer MicroBT, it is possible to have your return on investment within four months. The negative side of WhatsMiner M32-62T is that it only comes with a 6-month warranty.
WhatsMiner M30S++
WhatsMiner M30S++ is one of the few mining hardware with significant hash rate power (116 TH/s). The official MicroBT website (whatsminer.net) shows this ASIC miner goes for $14,000. That price tag calls for your commitment to crypto mining. Depending on the electricity cost, you may realize your return on investment within a year.
Ebang EBIT E11++
The maker of this miner, Chinese Ebang, touts itself as the best when it comes to ASIC production. Ebang EBIT E11++ is explicitly designed for Bitcoin mining. It delivers a hash rate power of 44 TH/s, which is significantly lower than that produced by other discussed ASIC miners. Ebang EBIT E11++ sells for $2,000 and comes with a one-year warranty.
Bitmain Antminer S5
This is the cheapest ASIC miner in the lot. Bitmain Antminer S5 goes for only $500. It offers a hash rate power of 64 TH/s, which is higher than Ebang EBIT E11++. This crypto mining hardware is known for consuming low electricity and is ideal for people living in small apartments since it produces less noise.
What’s the Timeframe of Mining 1 BTC?
With a crypto mining machine producing a hash rate power of about 60 TH/s, it may take a year to 1 BTC. So, for example, if you bought Bitmain Antminer S5, which retails at $500, you would probably have your return on investment within a few months, considering that Bitcoin is currently trading at $30,000, above the cost of mining 1 BTC ($18,500).
Is Cloud Mining a Better Option?
Another form of generating new coins is called cloud mining. What this means is instead of buying ASIC miners, you can invest in crypto mining companies to do the job for you and then earn passive income. This mining method is ideal for people who do not have time to mine themselves. However, the biggest challenge is that most platforms claiming to offer cloud mining services are scams. So ensure you research properly before investing in any of them.