The Attributes of the Best Bitcoin Mining Hardware

Before touching base on the best Bitcoin mining hardware it needs to be remembered that there are folks who still try to mine the currency without any mining hardware. Hence, it is technically possible to mine the coin without any hardware but a ‘miner’ could end up waiting for his entire lifetime and still not get any results. In fact, this was what the ‘miners’ used to do in the early days of bitcoin mining. They preferred to do the mining using their home computers but it wasn’t long before the CPUs (Central Processing Units) of these computers found it impossible to process the enormous loads of data required for such mining.


The new mining industry

In response to the problem that the miners faced, a completely new industry emerged to offer the best Bitcoin mining hardware and introduced equipment that are custom built to perform much better than a computer CPU. In the beginning, these machines had FPGA (Field-Programmable Gate Array) processors that were attached to computers with easy-to-use USB connection. These machines consumed much less power than CPUs and were also a lot faster but they still had a long way to go in terms of performance.

It wasn’t too long before the next wave of bitcoin mining machines was developed. These were driven by ASIC (Application Specific Integrated Circuit) and are known to mine at amazing speeds not seen before in any other mining machine. Generally, the quality of a mining machine is based on two attributes – the amount of power it consumes and what it costs. These ASIC mining machines will need to utilize the power supply efficiently and not get overheated as that could result in the machine breaking down. This is to be expected because of the kind of scale that Bitcoin is achieving resulting in harder mining work for the machine.

Ways to optimize the mining equipment

Users would need to keep cooling fans handy as the machines will need to be cooled regularly. The best Bitcoin mining hardware would require a vastly improved hash rate along with the customary efficiency of processing the data related to the currency. For a miner to be operating efficiently, he needs to ensure that the machine consumes as little power as possible for every hash that is mined. This would depend not merely on the machine’s in-built tooling but also on how the owner manages it. Another way to keep a tab on the estimated ROI (Return on Investment) of the mining equipment is by using a calculator to measure the mining profitability of the bitcoin.

Of course, there’s nothing better than hands on experience but these methods including use of calculators designed specifically to measure your profitability are also quite effective in calculating ROI. Today, more than 70% of the Bitcoin mining industry is controlled by China which also manufactures the best Bitcoin mining hardware in huge quantities. China has the largest concentration of Bitcoin mining farms in the world and one of the reasons for this is the availability of cheap electricity in China that most other countries in the West can’t match. This is not a very favorable scenario for Bitcoin one major country with enormous cash clout is literally controlling the industry. It needs to be more decentralized. Instead of this, You can also avail bitcoin mining hosting services.

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