Cryptocurrency mining is adopting computer technology to complete various tasks and launch new digital assets into circulation. It involves the addition of new blocks to a blockchain. Hash rate, also called Hash power, is a measure of the mining speed of a computer device. It relays the number of mining attempts per second.
The ongoing debate between ASIC miners and GPUs is based on their varying energy utilization, cost, hash rates, and flexibility. Most profitable ASIC Miners are, however, developed specifically for mining and, as such, offer higher hash rates.
What are ASIC Miners (Application-Specific Integrated Circuits)?
ASIC Miners are Application-specific Integrated Circuits that utilize computer chips to effectively carry out cryptocurrency mining. It presents technological advancements that project its beneficial nature.
- Efficiency: ASIC Miners leverages its low power consumption ability to achieve an effective mining experience.
- High Hashrates: In comparison with GPUs and CPUs, ASIC has the intrinsic ability to mine cryptocurrencies at an incredibly fast rate.
- Cost-effective: ASIC crypto miners are relatively affordable than other mining operators.
- Specialized design: ASICs are designed for a specific algorithm that streamlines its operations to only cryptocurrency mining, leading to higher rates of efficiency.
Top ASIC Miner to Consider
Some popular ASIC mining models currently in use include:
1. Antminer S19 Pro
The Antminer S19 Pro is a Bitcoin mining hardware designed by Bitmain in 2020. It is an upgraded version of the Antminer S19 series, as it is saddled with facilities enabling large-scale mining operations.
Features:
- It presents with a high hash rate of about 110TH/s
- It leverages Ethernet and Wi-Fi for easy network connectivity.
- It utilizes power effectively at the rate of about 29.5J/TH.
- It supports multiple mining.
Price: The current price of Antminer S19 Pro lies around $30,000 to $40,000.
2. WhatsMiner M30S++
WhatsMiner M30S++ is one of the Bitcoin Miners which was manufactured by MicroBT. It is the upgraded version of the M30S model, which first appeared in the crypto space in 2022.
Features:
- It has a high hash rate of 112TH/s
- It uses 31J/TH during operations
- It functions optimally at about 40°C
- It also presents with a good cooling system
Price: The price of WhatsMiner M30S++ is around $4,000 to $5,000.
3. AVALONminer 1246
AVALONminer 1246 is a high-performance Bitcoin Miner developed by Canaan, a popular company dealing in cryptocurrency hardware. It was designed to suit large-scale mining operations while still optimizing the most profitable miner opportunities.
Features:
- It was built with a Hash rate of about 90TH/s
- It operates maximally at a temperature of about 104°F
- Its power usage is about 38J/TH
- Easy maintenance because of simple technology adoption
Price: The price of AVALONminer 1246 lies around $3,800 to $4,800.
4. AvalonMiner 1166 Pro
AvalonMiner 1166 Pro is one of the Bitcoin Miners designed by Canaan in 2021. It is the newer version of the 1166 series with a relatively better performance and higher efficacy.
Features:
- It presents with a high Hashrate of about 81TH/s
- It utilizes the Ethernet connectivity for easy monitoring
- To reduce electricity costs, it consumes only about 42J/TH
- It is relatively more reliable as it was built with high-quality components
Price: AvalonMiner 1166 Pro is priced around $2,800 to $3,800.
5. DragonMint T1
In 2018, DragonMint T1 was manufactured by Halong cryptocurrency Miner hardware supplier. It is relatively reliable and has a high performance level.
Features:
- It has a Hashrate of about 16TH/s
- It is built with environmentally friendly technology, which utilizes 25J/TH.
- It is quite resistant to high temperatures
- It has the facility for supporting multiple mining
Price: The market price of DragonMint T1 is around $1,500 to $2,500.
Limitations of ASIC Miners
1. Hardware inflexibility:
ASCs are Integrated Circuits designed to function using a specific algorithm through a specific algorithm called “hard-wiring,” which results in the physical connection of the algorithm logic to the circuit chips, making it difficult to be repurchased for other currencies.
The lack of flexibility in the ASIC algorithm gradually becomes a hurdle to algorithm updates as cryptocurrencies either switch to a preferential algorithm or adopt a new one. Digital assets may also experience a consensus shift, leading to the adoption of new algorithms.
2. Centralization:
ASIC is one of the mining hardware manufactured by a small number of companies because of the limited availability of resources and lack of necessary expertise. Also, well-established institutions apply for and secure patent letters from the government, leading to the centralization of mining power.
This limitation of production counteracts the aim of decentralization by giving the power of manipulation to only a few institutions. There are also increased risk occurrences as the source of failure originates from a single entity, defeating the aim of the partnership.
3. High initial cost and short lifespan:
ASIC Miners should be well informed about investments required for effective mining experience:
- Cost of hardware: Ranges between $2,000 to above $10,000.
- Power supply: $500 to $2000
- Cooling systems: $500to $2000
- Maintenance and repair: $500 to $2,000
- Networking equipment: $500 to $2,000
- Single miner: $3,000 to $15,000
- Small-scale operation: $30,000 to $150,000
- Large-scale operation: $3,000 to $1,500,000
The price situations above are, however, dependent on the region and purchase model.
The rapid advancement of ASIC technology can lead to reduced relevance of older versions through adjustments in algorithm updates, Increased mining power, and Moore’s law effect, which states that computing power doubles every two years.
4. High energy consumption:
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ASIC Miner is known for its complex infrastructure makeup, resulting in the requirement of heavy-duty power supplies, which leads to high energy consumption, typically between 500-2000 Watts per unit, and heat generation.
High energy usage of ASIC Miners predisposes the environment to greenhouse gas emissions, electronic waste, resource depletion, and Air, land, and noise pollution.
5. Maintenance challenges:
Troubleshooting and maintenance of ASIC Miners often present difficulties ranging from limited technical expertise, increased power supply requirements, regular repair and replacement of faulty equipment, Hashrate optimization, and Temperature control.
These challenges can block new Miners, small-scale Miners, and Miners with limited resources by increasing downtime and reducing profitability.
What are GPU Miners (Graphics Processing Units)?
GPUs are graphics processing units whose advanced infrastructure allows them to maneuver complex tasks via parallel processing. It is suitable for performing multiple tasks alongside cryptocurrency mining. They significantly impact the mining of cryptocurrencies by having the intrinsic ability to manipulate intense computations and cryptographic algorithms. They can serve as an alternative to Application Specific Integrated Circuits (ASICs).
In addition, the best GPU for mining can simultaneously carry out multiple operations much faster than other mining hardware like Central Processing Units (CPUs). This technique is known as ‘parallel processing.’ They offer flexibility and are easily adaptable to perform different projects aside from mining.
Top GPU Miner to Consider
1. NVIDIA GeForce RTX 4090
NVIDIA GeForce RTX 4090 is one of the top GPU Miners gaining ground in the crypto space. It was designed in September 2022 and is projected to deliver various tasks ranging from content creation to gaming packages.
Features:
- It is built with a memory of 24GB GDDR6X, suitable for multitasking
- It is compatible with the PCLe Gen 5 standard for swift data transfer
- It fosters the development of Ada Lovelace Architecture.
- It is designed with an enhanced processing power of about 10,496 CUDA cores.
Price: The price of NVIDIA GeForce RTX 4090 is around $1,599
2. AMD Radeon RX 7900 XTX
AMD Radeon RX 7900 XTX is a powerful graphic card that made its first appearance on November 3, 2022. It operates on a Navi 31 graphic processor, which measures an area of about 529mm². It also supports AI-enhanced projects like video production and image editing.
Features:
- It is built on RDNA 3 architecture for improved work performance.
- It has a GPU operating frequency of about 1929MHz.
- Its graphic processor has a density of about 109.1M/mm².
- Memory size is about 24GB
Price: The price of AMD Radeon RX 7900 XTX lies around $999.
3. NVIDIA RTX 3090
The NVIDIA RTX 3090, released in September 2020, is a high-performance GPU designed for heavy-duty tasks like gaming, content creation, and AI-powered workloads. It belongs to the Ampere architecture family, delivering a leap in both performance and efficiency, making it one of the top choices for enthusiasts and professionals.
Features:
- It has a massive 24GB GDDR6X memory, ideal for handling large datasets, 8K gaming, and high-end graphical applications.
- The GPU features 10,496 CUDA cores, significantly boosting parallel processing for compute-heavy tasks.
- Enhanced real-time ray tracing capabilities for more realistic lighting and shadows in games.
- It supports PCIe 4.0 for faster data transfers, ensuring smoother performance in demanding applications.
Price: The price of the NVIDIA RTX 3090 typically hovers around $1,499, though availability and demand can influence pricing.
4. AMD Radeon VII
AMD Radeon is one of the popular GPU Miners, and it made its first appearance in the trading space in February 2019. It presents a relatively superior power efficacy and performance, having been the first hardware to use a 7nm process. It is effectively used for content creation and gaming.
Features:
- It is the first GPU-based hardware to adopt the 7nm process
- It is built on Vega 20 architecture
- It has an embedded memory bandwidth of about 1TB/s
- It supports the Multi-Frame Sampled Anti-Aliasing (MFAA) technology.
Price: Recent price analysis reveals the price of AMD Radeon VII to be around $699.
5. AMD RX 6800 XT
AMD RX 6800 XT is a popular Graphics card produced as one of the GPU models. It was manufactured in November 2020 and has been recorded to be excellent in multi-purpose task operations, including cryptocurrency mining. It is, however, built on RDNA 2 architecture.
Features:
- It is equipped with GDDR6 memory of 16GB
- It employs the use of Ray accelerators
- It is designed on 2nd generation RDNA structure
- It leverages Anti-aliasing technology.
Price: Its launch price is around $499.
Limitations of GPU Miners
1. High upfront cost:
Besides the high cost of GPUs, setting up a mining rig is another aspect of the financial pool of miners. The specialized motherboard, cooling system, power supply, control software, high-quality casing, and cabling, which are essential in developing mining rigs, are very expensive and can predispose to a huge financial drain.
2. Power consumption:
As a result of an increase in the cost and complexity of most profitable GPU mining tools, the power consumption of this hardware is quite high. This invariably leads to a rise in operational and maintenance costs. Additional cooling systems may be required to manage the excessive heat production and, as such, compound the financial burden.
3. Noise generation:
In the bid to optimize existing technology, mining rigs might be subjected to pressure, leading to increased production of heat energy. To mitigate the negative effect of excessive heat production, cooling fans are employed. As a result, noise pollution is inevitable in events of continuous application of these cooling systems.
4. Software complexity:
GPU is one of the most powerful mining facilities; it is built using advanced technology and infrastructure. In addition, it is saddled with complex software integration, which is challenging for beginners or miners on a solo mission. It requires technical expertise and advanced insight to be operable. This hurdle has the potential to discourage the use of GPUs.
5. Algorithm updates:
Best GPUs for crypto mining are built on a single algorithm technology, making it relatively impossible to adapt to changing algorithm updates. This drawback harms the mining hardware as it makes the tool obsolete and less competitive in the long run. New coins and some digital assets might decide to upgrade their algorithm structure as part of technical advancement.
The Hashrate Showdown: ASICs vs. GPUs in 2024
| ASICs | GPUs | |
|---|---|---|
| Activity | Focuses specifically on mining | Can perform multiple tasks, including mining operations |
| Power consumption | Less | More |
| Cost of Operation | Relatively lower | Relatively higher |
| Flexibility | Limited | Relatively more flexible |
| Hashrate | Higher | Lower |
Hashrate capabilities of top ASIC and GPU miners based on current data (2024).
Hashrate of Top ASIC Miners:
- Antminer S19 Pro: 110TH/s
- WhatsMiner M30S++: 112TH/s
- AVALONminer 1246: 90TH/s
- AvalonMiner 1166 Pro: 81TH/s
- DragonMint T1: 16TH/s
Hashrate Of Top GPU Miners:
- NVIDIA GeForce RTX 4090: 0.5 to 1.5 TH/s
- AMD Radeon RX 7900 XTX: 105MH/s
- NVIDIA RTX 3090: 104.9MH/s
- AMD Radeon VII: 1.12 GH/s
- AMD RX 6800 XT: 64.4 MH/s
From recent data analysis of the different mining powers of ASIC and GPU, it is evident that because of the specificity of ASIC mining rig operations; it presents with a much higher hash rate than GPU, which has multi-purpose functionality.
The cost of hardware varies between the two mining models. The initial investment and Return On Investment is quite higher for ASIC bitcoin miners than GPU. ASICs also use up much more power than GPUs. Mining difficulty is relatively encountered while using ASIC rather than GPU because of reduced flexibility. Various coin algorithms have been adopted ranging from Ethash, Equihash, and SHA-256.
Choosing the Right Miner for You
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The choice of an appropriate miner to use largely depends on the interplay between various factors. The size of the drafted budget should be put forward as it determines the purchasing power of an individual. The cost of electricity in a region should be considered before embarking on any mining facility. Different cryptocurrencies present with varying market values which will indirectly influence the outcome of investments and as a result, making informed decisions is paramount.
Mining profitability is the Return On Investment (ROI). It is that extra monetary benefit gotten from a successful mining exploit. It excludes other input costs like the cost of electricity, operational cost, hardware cost, and maintenance. However, based on the variance in cost of hardware, scalability, hash rate performance, power consumption, and algorithm compatibility, mining profitability is significantly different between ASIC and GPU.
Conclusion
Hashrates for ASIC and GPU are dependent on various factors. Best ASIC Miners are specifically designed for cryptocurrency mining and have a relatively lower power consumption rate. There is also associated higher hash rate performance and limited algorithm compatibility.
GPU Miners have multi-purpose functions, with higher Power consumption and lower hash rate performance. It also presents with adjustable algorithm capabilities and lower upfront costs.
However, the best miner to adopt is largely dependent on the individual’s need and market perception. Various market conditions require different approaches likewise the sole mining aim of an individual. These factors should be duly considered before choosing a mining hardware to hop on.
It is advisable to keep growing your knowledge by gathering information and updates from reliable sources through news, articles, journals, and also via active participation in a dedicated crypto community. Information is all that is needed to make informed decisions and reduce the chances of risk exposures.