How to choose a Bitcoin mining machine? Which Bitcoin mining machine is the best?

We all know that the performance of mining machines is directly linked to profits. There are more and more mining machine brands on the market now, and there are bound to be fakes among them. Faced with a wide range of mining machines, how to judge the overall performance? What are the requirements for ore dressing machines? Which of the current mainstream mining machines is better in terms of profits?

Today, I will teach you how to develop a keen eye and find the best mining machine for you. I will also compare the mainstream mining machines on the market for your reference.

(I) To understand the mining machine, we need to know the principles:

1. Four major conditions required for mining:

(1) Mining machine: professional mining equipment that can provide a large amount of computing power to obtain a considerable amount of virtual currency;

(2) Supporting facilities: power supply, network connection, heat dissipation equipment and an external environment with suitable temperature and humidity;

(3) Mining software: Mining machines need to download and configure special mining software;

(4) Mining pool service: Mining machines must be connected to a mining pool and receive mining revenue based on the mining pool allocation model.

2. Factors affecting mining revenue

(1) Computing power: The higher the computing power, the more hash collisions there are per second, the higher the probability of finding the answer, and the more bitcoins will be mined.

(2) Power consumption: The lower the power consumption, the lower the electricity bill, the lower the cost of mining, and the higher the profit;

(3) Luck value: If you choose a mining pool with the PPLNS profit distribution model, the probability of obtaining profit is also related to the luck value. There is a certain probability factor in the mining pool's block explosion (producing and confirming a block), which is called the luck value. When the luck value is high, the mining pool's profit will increase, and vice versa. If you choose a mining pool with the PPS+ profit distribution model, you can ignore this factor.

(II) Methods we need to master when selecting mining machines:

1. Mining machines with higher computing power are not necessarily better

In theory, the faster the mining speed, the greater the possibility of finding a valid hash value. The higher the probability of "block explosion", the more chances miners have to get high Bitcoin rewards. This has led many people to use computing power as the only criterion for choosing a mining machine.

As we all know, the computing power of a mining machine is determined by the performance of the chip. The iteration of the chip can greatly improve the computing power of the mining machine. However, after all, the chip is a high-tech equipment, and it is not so easy to update it. If the chip manufacturing process is not effectively improved, the way to increase the computing power of the mining machine is often to increase the number of chips on a single computing board, but this will reduce the performance of the mining machine.

Professional mining engineers pointed out that if a single machine has too many hashboards, the mining machine will be too large. Such a machine is essentially no different from stacking multiple mining machines together, except that it is more difficult to repair. And if there are too many chips on a single hashboard, the temperature will be too high, which will directly cause irreversible damage to the mining machine.

The computing power of the mining machine should be controlled within a certain range to optimize the overall performance.

Conclusion: If the technological level of a certain mining machine does not improve significantly, but the computing power of the mining machine increases by leaps and bounds, the performance of the mining machine will be greatly reduced.

2. Determine whether the mining machine you purchased is cost-effective by the price per ton

Previously, a company announced a mining machine with a computing power of 5120T, and the price of the whole machine is about RMB 2.87 million. Assuming that this money is used to buy a domestic 14T mining machine, 410 units can be purchased, which is equivalent to 5740T computing power.

Therefore, some of the machines on the market that focus on ultra-high computing power are very eye-catching in the publicity, but the price is not particularly affordable. Sometimes it is more cost-effective to buy multiple mining machines with low computing power.

Conclusion: When judging whether the price of a mining machine is reasonable, you can refer to the market price per T computing power and make a horizontal comparison.

3. Calculate the profit and payback period of a single mining machine by calculating the amount of coins and electricity costs

The Bitcoin algorithm determines that the current network can produce about 1,800 Bitcoins per day, and the total computing power of the network is about 30.54EH/s. According to the computing power conversion formula 1E=1000P, 1P=1000T, it can be concluded that the theoretical output of Bitcoin with 1T computing power is about 0.0000589 pieces/T/day. (The above data comes from the Internet)

Taking the currently best-selling S9 mining machine as an example, the market price is 5,850 yuan (or so), the computing power is 14T, and the daily coin output is 14*0.0000589=0.00083 coins (or so). Calculated at the current coin price of 54,400 yuan/piece, the mining machine generates a daily income of 0.00083*51005=45.15 yuan.

The actual power consumption of the mining machine is 1500W (about), and each kWh of electricity is about 0.45 yuan. The electricity bill for a day is 16.2 yuan, so the total cost for a day is 16.2 yuan. This results in a daily profit of 28.95 yuan, and a payback period of 204 days (note: this payback period does not take into account the increase in computing difficulty and the fluctuation of the currency price). Since the mining days of the mining machine are basically the same, the net income of the mining machine can be seen by comparing the daily profits.

Conclusion: The net income of a mining machine can be evaluated by calculating the daily profit and payback period.

4. Determine the input-output ratio of mining machine operation by computing power per watt

A qualified miner should not only be able to choose a high-yield mining machine, but also be able to find cheap electricity resources. The biggest cost of mining is electricity. Therefore, we should maximize the benefits of every kilowatt-hour of electricity we invest.

All mining machines on the market have specifications, showing a series of parameters such as the product's overall computing power, wall power consumption, size, etc. However, there is one indicator that rarely appears in the parameter display of major mining machines, because it is like a "magic mirror" that directly reveals the power conversion rate of the mining machine, leaving some so-called "high computing power" "power hogs" nowhere to hide. It is - computing power per watt.

Simply put, this data means how much profit your mining machine can bring you for every kilowatt-hour of electricity consumed. The formula is G/W.

For example, a mainstream mining machine has a computing power of 13.5T and a power consumption of 1350W, which means the computing power per watt is 10G/W. Another mining machine of another brand with a computing power of 12T seems to be not much worse than the former in terms of computing power, but because the power consumption reaches 2100W, the computing power per watt is only 5.85G/W, which is only half of the former.

Conclusion: By calculating the computing power per watt, we can see how much profit each kilowatt-hour of electricity invested brings, and prevent being misled by some parameters.

(III) Comparison of mainstream Bitcoin mining machines

At this point, we have basically mastered the method of judging mining machines. Below, the author will compare the mainstream Bitcoin mining machines on the market for your reference (due to the fluctuation of mining machine prices, all mining machine prices are approximate prices, and electricity charges are calculated at 0.45 yuan/kWh).

1. ASIC mining machine Ant S9

Rated computing power: 14TH/s±5%

Power consumption: 1320W+10%

Price: 5850 yuan

Evaluation results:

Price per ton (yuan) 420.71

Computing power per watt (G/W) 9.6

Current daily profit (yuan) 27.67

Payback period (days) 217

2. ASIC mining machine Antminer S9i

Rated computing power: 14TH/s±5%

Wall power consumption: 1320W+10%

Price: 7000 yuan

Evaluation results:

Price per ton (yuan) 500

Computing power per watt (G/W) 9.6

Current daily profit (yuan) 27.67

Payback period (days) 259

3. ASIC Miner Wingbit E10

Rated computing power: 18TH/s±5%

Power consumption: 1620W+10%

Price: 11,000 yuan

Evaluation results:

Price per ton (yuan) 611

Computing power per watt (G/W) 10.1

Current daily profit (yuan) 36.49

Payback period (days) 315

4. Shenma M3

Rated computing power: 12TH/s

Power consumption: 2300W+10%

Price: 3800 yuan

Evaluation results:

Price per ton (RMB) 317

Computing power per watt (G/W) 5.2

Current daily profit (yuan) 12.32

Payback period (days) 315

5. Avalon 821

Rated computing power: 11TH/S±5%

Power consumption: 1200W/h+20%

Price: 5800

Evaluation results:

Price per ton (RMB) 527

Computing power per watt (G/W) 7.6

Current daily profit (yuan) 20.76

Payback period (days) 283

(IV) Comparative analysis of the advantages of various types of mining machines

Price per ton: Shenma M3 (12T) > S9 (14T) > S9i (14T) > Avalon 821 > Yibit (18T)

Computing power per watt: Ebit (18T) > S9i (14T) = S9 (14T) > Avalon 821 > Shenma M3 (12T)

Daily profit: Yibit (18T) > S9i (14T) = S9 (14T) > Avalon 821 > Shenma M3 (12T)

Days to payback: S9 (14T) > S9i (14T) > Avalon 821 > Shenma M3 (12T) = Yibit (18T)

The comparison results of various mining machine parameters are ranked as above. The Antminer S9 and S9i have little difference in overall performance, but the S9 has advantages in price per T and payback period, and both of these rankings are relatively high; Ebit ranks first in daily profit, indicating that it is better in net profit; The computing power of Shemma M3 is not low, and the highlight is that it has an overwhelming advantage in price; Avalon's parameters are moderate, and the payback period is slightly better.

However, I would like to remind you that in addition to the parameters evaluated above, we also need to consider the operating stability and maintenance requirements of the mining machine. After all, if the mining machine fails, it will be time-consuming and laborious to repair it. The stability of the mining machine is mainly determined by the chip and industrial design of the machine. The chip manufacturer of the Antminer is TSMC. As Apple's foundry, it has good performance and the operation and maintenance requirements are not very high. Avalon is well-known for its stable performance and is not prone to failure due to its seamless design that protects important parts such as sockets. It has a good reputation among veteran miners. However, it is worth mentioning that Avalon has shortcomings: it is more complicated to put on the shelves and has higher requirements for accessories. Shenma M3 and Yibit E10 are slightly inferior in stability due to their large power consumption and computing power, and there are many failures. (Finding a professional mining farm for unified hosting can easily solve this series of problems. My mining machine is currently hosted in a large mining farm in Xinjiang. You know, I'm grinning.)

From the perspective of miners, considering the overall cost-effectiveness, S9 is a good choice, but the author has learned that S9 is out of stock on major platforms. As an alternative, S9i is a good choice; if a novice wants to experience it, Shenma M3 is the best choice as an entry-level machine; if you want a higher net profit, you can buy the Wingbit 18T high-computing power model, but you must do a good job of operation and maintenance for mining machines with high computing power and high power consumption; big miners (people who own hundreds or thousands of mining machines) recommend mining machines such as Avalon with stable performance and almost zero failures, because its computing power, profit and other parameters are ranked moderately, but its powerful performance guarantees long-term mining income, and there will be no major problems even if the mine needs to be relocated as a whole.

Today I compared Bitcoin mining machines for you. I also did some research on Litecoin, Ethereum and other mining machines, which I will introduce to you below.