There is still room to make money mining bitcoin, but you need to buy the best Bitcoin mining hardware and have access to cheap electricity in order to compete in 2017.
If you were to start out today with an older, less efficient bitcoin miner – it may take several years to break even on the cost of the equipment plus the cost of electricity – even if you are working with the largest mining pools.
Speed and Power Usage Measure Efficiency
It is not simple to calculate the profitability of bitcoin mining because one must consider the initial equipment cost, your local electricity cost per kW/h, the price of bitcoin, and the current mining difficulty. It’s also good to consider a 2.5% pool mining fee as well.
Mining Business vs Mining Investor
Should you need to sell the bitcoin you mine, in order to pay for electricity, then short term margins are important. Businesses who borrow money to set up a mining farm – must make monthly payments to cover costs and repay business loans.
If you are an individual paying for electricity as a way to convert fiat money into new bitcoin as a long term investment – then the short term RIO is less important.
Indeed, should bitcoin price reach the lofty predictions of $10,000 USD each, then fussing about differences in mining efficiency within the best 2017 models below – is almost inconsequential.
The 3 Best Bitcoin Mining Hardware ASICs for 2017
Bitmain AntMiner S9 – In May of 2016, Bitmain launched the Antminer S9, the world’s first consumer-grade bitcoin miner based on a 16nm process ASIC chip. Still top of the technology in 2017, the 16 Nanometer (nm) semiconductor chip is the most efficient on the market. Some technology pundits predict this chip technology will remain the best mining chip for 2017 and 2018. 14 nm chipsets are under development, but these may take years before they are production ready.
Bitmain AntMiner R4 – Using the same 16nm chip technology, each Antminer R4 delivers more hashrate and efficiency than any bitcoin miner except the Antminer S9. This miner is quiet enough to use at home, efficient enough to compete, and withing the cost range of a home hobby miner.
AvalonMiner 721 – released in November of 2016, employing TSMC’s 16nm processor with Smart Layout – this miner is a strong rival to Bitmain. Established with large data-center mining farm application in mind, the AvalonControler can manage twenty miners to provide 120 TH/s hashrates.
Our Mining hardware shop is limited to feature only the very Best Bitcoin Mining Hardware for sale in 2017.
Many other used miners are available on Amazon and eBay – but these units are too inefficient. These older bitcoin mining hardware are for sale because they can no longer compete with the growing mining difficulty, and successful miners are upgrading to the best hardware.
Alternatives to Buying Mining Equipment