Efficient mining by ASIC miners

#Interest in #cryptocurrencies is constantly increasing. So it is not surprising that people always join the mining networks to generate #cryptos. This inevitably means that the computing power of the #hardware now has to be more powerful than it was a few years ago. This is where so-called #ASIC miners come into play, which enable #miners to mine #crypto more efficiently and consume less #electricity per #megahash.

The computing power required to mine profitably is always based on the overall network. If the network is still quite new, it is also possible to mine profitably with relatively little computing power.
When #Bitcoin (#BTC) was introduced in 2009, it was common to mine with the CPU of your own PC. However, since the overall computing power in the network also increased due to the increasing number of miners, mining using CPUs was replaced by graphics cards, since significantly higher hash rates can be achieved with GPUs.

If you want to mine the well-known coins such as Bitcoin and Co., even the best CPUs/GPUs are no longer enough, powerful hardware is required.

 

#Mining requires computing power

To illustrate why #cryptomining becomes more difficult as the network grows, let's stick with the Bitcoin example.
In order to mine Bitcoin, to put it simply, complex arithmetic tasks are solved using special hardware. If this succeeds, the miner is given the opportunity to add blocks to the BTC blockchain.
On average, the Bitcoin network finds a new block every ten minutes, with these ten minutes being a constant as it was set by the Bitcoin inventor.
So if more miners join the Bitcoin network, the difficulty of finding a block will automatically increase. To ensure that only one block is found every 10 minutes, the difficulty adjusts every 2016 blocks.

Another reason why mining requires powerful hardware is related to the so-called "#halving". Every four years, the reward that miners receive is halved. While miners initially received 50 BTC for finding a new block, the current reward is 6.25 BTC.

Due to the fact that the mining business is booming, the miners have to adapt their computing power to the network in order to be able to mine lucratively.

Better computing power through ASIC miners

#ASICminer are exactly the right solution for mining cryptocurrency profitably.
ASIC miners are application-specific integrated circuits that are designed for a very specific computing task. This is a special chip that was only developed for mining and cannot be changed afterwards.
ASIC miners have very high computing power, so they can create many hashes per second. An ASIC miner from 2018, for example, can replace 12,000 CPUs in terms of performance.
In addition, the ASIC miners are cheaper per unit of efficiency than CPUs or GPUs.

The best-known company for ASICs is #Bitmain with their #Antminer series, which we of course also have in our shop.

Since ASIC miners are considered to be the latest generation of mining hardware, they represent the ultimate in efficient mining. This is exactly why we sell our customers ASICs with which returns of up to five percent are possible - per month.

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