5 Best Bitcoin Mining Rig
Hi everyone ! Today I am going to tell you about the 5 Best Bitcoin Mining Rigs. As, we all know now-a-days crypto currencies are playing a vital role in the financial industries. Before getting to the point let’s first know about cryptocurrencies and mining.
What are cryptocurrencies ?
Cryptocurrencies are digital currency which can be used to send to other person in form of payments. People used this mode of payment because of very fast operations and very low transaction fees. It comes to increase the value of it when more people started using this mode of payment or hold it as an asset or investment.
What is crypto mining or Bitcoin Mining ?
As we all know Bitcoin and other crypto currencies work on block-chains there is no central organization who controls or manages this facility. So, it relies the security and service on the mining concept. Mining is letting our computers resources to be used as a server for this transaction and the security for bitcoin.
This works in form of a Algorithm Solving machines which our GPU (Graphic Processing Unit) Graphic Card does this job well and all by itself. For each successful solution on block chain we get rewarded in a fractional part of Bitcoin or any other coin which we are mining.
So, these rewards come into action as a mode of income which we know as cryptocurrency mining or Bitcoin Mining.
Now, I want to share you the 5 Best Bitcoin Mining Rigs.
Graphic Cards, ASIC Miners are two types of devices which we can use for mining crypto. Depending on what coin and what Algorithm we are working on.
Now let’s get to the point –
- ASIC Miners – ASIC Machines mostly uses SHA-256 Algorithm specifficaly to mine bitcoin. Different ASIC Machines uses different algorithms all depends on your model of the ASIC Miners. ASIC (Application Specific Integrated Circuit) these machines have no other purpose than mining its is just a plug and play device. Power it to the board, Insert a LAN cable, set-up your pool & address. That’s it and you are ready to go this machine will start and work all by itself. This machine can mine Bitcoins much more efficiently compared to GPU’s.
- Pros of ASIC Miner – Easy setup, clean and convenient setup. Having less knowledge would still be manageable for this setup.
- Cons of ASIC Miner – Risky ROI, If mining stops this machine have no other use. Low warranty, High power usage, Less service networks. Very expensive to purchase.
- Graphic Card (GPU) Mining – Graphic Cards are used in mining they are best and more efficient in mining ETH (Ethereum) until September of 2022. Due to ETH merge & arrival of ETH2.0. GPU mining which earlier was making more than 7 USD for a RTX 3090 graphic card came down to barely making 0.80 USD. As of current scenario GPU mining is no more profitable until a new algorithm emerges so that miners can switch to them for better returns. The profit is so low that miners are not even manage to pay the electricity bill from the profit they earned. But still GPU’s are also used for gaming so that these graphic card can be sold to gamers if you want to quit and want money out of the rig. GPU miners uses multiple GPU’s on a single computer and run all at once in a single computer for more rewards.
- Pros of GPU Mining – Low investment setup the expensive setup you build more you will earn. Wide service network related to service and warranty. Higher returns until ETH2.0, Less power consumption compared to ASIC Miners. Could be sell to gamers for a reasonable price if want to sell out rig. 3 to 5 years warranty on products and GPU’s which make it reliable.
- Cons of GPU Mining – Requires a lot of knowledge before starting, Hardware management could be difficult at sometimes if you use multiple GPU’s. ETH2.0 Merge made GPU mining less profitable. Increasing GPU pricing and less availability.
- AIO Assembled GPU Rig – Exactly same as graphic card mining but it is settled-up already by seller in closed compartment for better mobility & clean setup.
- Pros of AIO Assembled GPU Rig – Clean setup, no wire maze, small can be placed easily.
- Cons of AIO Assembled GPU Rig – Heating issues and expensive compared to custom build.
- CPU Mining – CPU (Central Processing Unit) can also be used as a hardware to mine crypto currencies. Followed by above it uses different algorithms compared to other hardware’s.
- Pros of CPU Mining – Every computer has CPU you can directly install mining software and get to go with it.
- Cons of CPU Mining – One CPU needs a whole setup cant use multiple CPU’s in one setup. Lower profits
- Hard Disk Mining – Sounds weird but yes it is possible with CHIA coin it requires blank hard disk spaces in terms of plotting and use it to mine CHIA coins which is a cryptocurrency.
- Pros of HDD Mining – Extremely low power consumption, Almost negligible heat dispensing and can stack plenty of hard disks in one PC.
- Cons of HDD Mining – Not reliable for longer use, Less ROI, Plotting on Hard Disk takes very long time to complete in order to mine.
So, this sums up to the end. And that’s what I could tell you about 5 Best Bitcoin Mining Rigs in today’s article hope you like it. Feel free to comment and ask me more about crypto currencies I would definitely make another post on it. If this topic helped you feel free to share with out family and friends.