Bitcoin and Ethereum Mining Equipment: ASIC and GPU.

 

What is an ASIC Bitcoin Miner?

Since it’s now impossible to profitably mine Bitcoin with your computer, you’ll need specialized hardware called ASIC's.

 

Originally, Satoshi intended for Bitcoin to be mined on computer CPU's. However, Bitcoin miners discovered they could get more hashing power from graphic cards. Graphic cards were then surpassed by ASIC's (Application Specific Integrated Circuits).

Nowadays all serious Bitcoin mining is performed on dedicated Bitcoin mining hardware ASIC's, usually in thermally-regulated data-centers with access to low-cost electricity. Think of a Bitcoin ASIC as specialized Bitcoin mining computers, Bitcoin mining machines, or “bitcoin generators”.

How to Find the Best Bitcoin Miner?

There are some important factors to look at when determining which Bitcoin mining ASIC to buy:

Hash rate – How many hashes per second can the Bitcoin miner make? More hashes cost more, which is why efficiency is crucial…

Efficiency – You’ll want to buy the most efficient bitcoin mining hardware possible. Since miners use a large amount of electricity, you want to buy one that converts the most amount of electricity into bitcoins.

Price – How much does the bitcoin miner cost? Cheap mining hardware will mine less bitcoins, which is why efficiency and electricity usage are important. The fastest and more efficient mining hardware is going to cost more.

Don’t try to buy a miner based on only price or only hash rate. The best ASIC miner is the most efficient bitcoin miner. Aim for value.

What is a GPU Ethereum Miner?

In order to mine Ethereum, you will need specialized hardware known as graphics processing unit (GPU). Ethereum’s developers originally intended for it to be mined on computer CPUs but miners later discovered that GPUs gave them more hashing power. So, in the most simplest of terms: a GPU is a specialized Ethereum mining computer.

Most efficient GPU's on sale

Now that you understand the factors that make GPU rigs good, here is a list and brief description of the most efficient GPU's on sale.

Note that the power costs per day numbers used below were based on the global average cost of electricity and the price of Ether on September 16, 2016.

For more accurate estimates, use an Ethereum mining calculator and plug in your own numbers.

Radeon R9 295X2

The Radeon R9 295X2 has by far the highest hash rate (46.0 MH/s) of the Ethereum GPU's on the market and will cost you $600. It has a power cost per day of about $1.44, a return per day of about $1.61 and a cost per MH/s of $13.04. This gives a return per year of $586.43.

Radeon R9 HD 7990

A Radeon R9 HD 7990 will cost you $680. Its power cost per day is lower than the R9 295X2 at $1.08 but its hash rate is significantly lower at 36 MH/s. Its return per day is $1.29 while its cost per MH/s is $18.89, giving it a return per year of $469.40.

Radeon RX 480

The Radeon RX 480 is most arguably the most economical in terms of cost and saving electricity. Its power cost per day is significantly lower than the two that I have mentioned at $0.4320. Its hash rate is 25.0 MH/s, meaning its cost per MH/s is $7.96. This gives a return per day of $1.21 and therefore a return per year of $440.91. Radeon RX 480 will cost you $199.

Radeon RX 470

A Radeon RX 470 has a modest hash rate of 24.0MH/s. Its power cost per day is exactly the same as the Radeon RX 480 at $0.4320. Its cost per MH/s is $9.13, giving it a return per day of $1.15 and a return per year of $418.16. Radeon RX 470 will cost you $219.
Now that you know the best Ethereum mining hardware, get a secure wallet for your Ether.
If you don’t want to mine you can always just buy some Ether online.