How to choose Bitcoin mining machines and hosting services (for beginners)

Foreword: As we all know, good mining machines and hosting services are what all miners pursue. Having good mining machines and high-quality hosting services can give miners an advantage in mining, and can also reduce unnecessary troubles, thereby reducing their own invisible losses. This article will help you choose mining machines.

How to choose the right Bitcoin mining machine for you

When it comes to Bitcoin mining, we naturally have to talk about Bitcoin mining machines. I found that many novices have a misunderstanding when choosing Bitcoin mining machines: they always want mining machines with high computing power, thinking that the higher the computing power of the mining machine, the better, and the less likely it is to be eliminated.

Regarding this issue, I need to help you correct it:

It is not necessarily true that a machine with greater computing power is better. Bitcoin mining machines are all made based on ASIC chips, which means that the mining program runs on ASIC chips. Currently, the popular mining machine chips on the market include 28nm chips, 16nm chips, and 7nm chips. The mining machines made of these chips are large and small, and the computing power ranges from a few terabits to dozens of terabits. The size of the computing power is nothing more than how many ASIC chips are contained in the purchased machine. The rich buy more, and the more bitcoins are produced every day, and the more money is invested. The elimination of Bitcoin mining machines basically does not depend on its computing power.

Maybe someone will say that currently 1T of computing power can mine 2 yuan a day. If the difficulty of the entire Bitcoin network increases 100 times, then a 1T mining machine can only mine 2 cents a day. Such mining machines will be eliminated, and no one is willing to spend energy to maintain such mining machines. This situation is indeed a way for Bitcoin mining machines to be eliminated, but the current mining machine computing power is generally much larger than 1T, and the rate of increase in difficulty is much smaller than 100 times.

Another major reason for the elimination of Bitcoin mining machines is that the output cannot keep up with the electricity bill. No matter how much computing power you have, when the Bitcoin mined every day by your 1T computing power is not enough to pay the electricity bill of this 1T mining machine, this mining machine loses its meaning of existence. This is the real reason for the elimination of Bitcoin mining machines. So how to calculate this power balance point? Let's go back to the calculation of each T computing power. The current power consumption of Bitcoin mining machines with 16nm chips is generally around 90J/TH. Currently, 1T computing power generates about 2 yuan worth of RMB in 24 hours. You can calculate that it is still far from the electricity bill balance point. The electricity bill of about 0.38 yuan accounts for about 40% of the 2 yuan generated daily (Note: This balance point is not only subject to the difficulty of the entire Bitcoin network, but also depends on the currency value of Bitcoin)

There is only one criterion for determining whether a Bitcoin mining machine is good or bad

Power consumption ratio!

The smaller the power consumption ratio, the higher the mining efficiency.

The first choice for high-power mining machines

Ant S17-56T

Manufacturer: Bitmain

On April 7, 2019, Bitmain's Antminer S17 series Bitcoin miners went online for sale. The Antminer S17 series is equipped with Bitmain's second-generation 7nm BM1397 chip. The Antminer S17 series Bitcoin miners include three models, S17 Pro, S17 and T17, a total of 5 miners. From the product naming, it can be noted that this is the first time that Bitmain has introduced the "Pro" name to the S series. The S17 series miners are representatives of high-end miners. The energy efficiency ratio is about 45J/TH, which is the most power-saving and efficient Bitcoin miner in history. The S17 series is first-class in both workmanship and heat dissipation, suitable for mid-to-high-level players.

With its highly competitive power consumption ratio and 7nm chip process, the Ant S17 series mining machines are likely to have a long life cycle and become a classic product among Bitcoin mining machines like the Ant S9.

Shenma M20S-68T

Manufacturer: MicroBit

On May 19, 2019, the MicroBT new product launch conference with the theme of "Ultimate Win-Win, Success Reappeared" was held in Chengdu. MicroBT officially released the latest generation of Whatsminer M20 series Bitcoin mining machines, with a total of five models, all using Samsung 8nm chips. At the same time, MicroBT released a new logo, which is more vivid and distinctive.

Among the five models, the model with the highest computing power is the Shenma M20S-68T, and the official power consumption ratio is 48W/T. The power consumption ratio of the Shenma M20S-68T is controlled within 50W/T, maximizing the single-machine computing power of the Bitcoin mining machine. It is currently the product with the highest single-machine computing power in the industry, and the computing power performance maintains Shenma's consistent stable style.

The first choice for small computing power mining machines

Ant S9K S9SE

Manufacturer: Bitmain

Bitmain AntMiner S9 series is the most classic and commonly used mining machine. It uses the latest generation of Bitcoin mining machine 16nm chip independently developed by Bitmain, with a computing power of 11.85 TH and a power of 1172 watts. It was once the king of machines, with a very high cost performance, and has great advantages in mining efficiency, stability and payback period, which is very suitable for entry-level players. The main models currently on sale are S9K 14T and S9SE 16T.

The BM1387 chip of S9 is the fifth generation of Bitcoin mining chip independently developed by Bitmain. It adopts TSMC's 16nm FinFET process and uses a fully customized design solution. The computing power of a single chip can reach 74GH/S, and the power consumption is only 0.08W/GH/s at a core voltage of 0.4V. It has been the chip with the lowest power consumption in the history of Bitcoin chips for the past four years.

Reliable mining machine hosting service

What is mining hosting?

To put it simply, you put the purchased mining machine in a professional mining farm of a professional hosting platform, and then provide a mining pool. The hosting platform will provide dedicated maintenance. Professional things should still be done by professionals. This is the truth.

What are the benefits of mining machine hosting?

1. Low electricity charges, reducing electricity costs.

2. Mining machines make a lot of noise, and it is difficult to eliminate the noise when mining individually.

3. The management, maintenance, and software upgrades of mining machines require professional knowledge, which is difficult for ordinary people to master.

4. Mining machines require 24-hour supervision, and mining machine hosting can save time and cost. Mining machine hosting can ensure favorable geographical location and bandwidth resources, etc., and mining efficiency is higher.

Mining machine hosting services can effectively solve the pain points of small and medium-sized miners and general users who have high thresholds to participate in mining and have difficulty making money. Users can mine remotely through the Internet and directly deposit the bitcoins generated by the mining machine into the user's account. In addition to the one-stop service from purchasing mining machines to managing mining machines by dedicated personnel, another very important advantage is that some hosting platforms can directly cash out the virtual currency mined by investors' mining machines, which also eliminates the worries of some investors that they cannot cash out the digital currency they have mined. This convenient investment method is a good choice for novice users, professional players, and large mining companies.

How to calculate your income

After choosing the mining machine and hosting, the question is

How many bitcoins can my mining machine mine in a day?

The entire Bitcoin network currently produces about 1,800 bitcoins per day. How many bitcoins your mining machine can mine in a day depends on the percentage of your computing power in the total network computing power. For example, the current total network computing power is 66EH (1EH=1000000T). If you have 1EH of computing power, then your mining machine can mine 1/66 of 1,800 coins a day, which is 27.7 bitcoins. Of course, the average individual's computing power is much smaller, so how do you calculate it? It's very simple. Look at the daily mining income project at the bottom of the dynamic data on the Caiyun Bit website.

The program has calculated all the complex contents and obtained a very simple expression: 0.00003 ฿ /1T/day (￥2), which means that if 1T computing power is turned on 24 hours a day without interruption and all operating indicators are perfect, 0.00003 bitcoins can be mined. After multiplying it according to the real-time currency value, we can get the corresponding amount of money that 1T computing power can mine in a day.

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Disclaimer: Mining is risky and investment should be cautious. This article is purely the author's personal opinion and does not provide any investment advice. This article is transferred from Caiyun Bit.