How to choose cryptocurrency mining equipment

01.08.2023, 11:37
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Today, the process of mining cryptocurrencies already requires more than a PC or homemade devices using video cards. At best, their use is able to recoup investments and allow a novice miner to gain experience in such activities.
How to choose cryptocurrency mining equipment

Today, the process of mining cryptocurrencies already requires more than a PC or homemade devices using video cards. At best, their use is able to recoup investments and allow a novice miner to gain experience in such activities. For full–fledged earnings, asics are used - special equipment for mining, the only function of which is the extraction of cryptographic assets. Our company Sibmain offers modern models of such devices.

Principles of device selection

When choosing the most effective devices for mining cryptocurrencies, the following nuances of the project should be taken into account:

  1. Type of mined coins. Before launching the project, they carefully study the market, determining which coins are most profitable to mine at the moment and in the near future. Different types of currencies may require different hardware and computing power.
  2. Algorithm. Each digital asset uses a specific hash algorithm. Mining equipment is chosen based on which algorithms the devices support.
  3. Budget. It is worth setting in advance the amount that is planned to be invested in a cryptocurrency project, and not to go beyond its scope during implementation.
  4. Effectiveness. Modifications of various ASICs are compared by key parameters affecting performance and profitability – computing power and electricity consumption.
  5. Cooling of devices. Most cryptocurrency mining machines are equipped with coolers to cool the working parts. Some miners add office fans to farms for better air exchange.
  6. Variability of mining devices. Over time, the value of some cryptocurrencies may decrease, while others may grow. Good machines have the ability to reconfigure the process for mining more profitable coins.

 

In addition, you should carefully choose the place where the farm will be located. Modern devices require rooms with good ventilation and a stable power supply system. You can consider options for placing equipment in specially equipped data centers for mining.

For example, our company Sibmain offers its own location in Siberia with a capacity of up to 80 MW. In our own data center, the devices are under the round-the-clock control of our technical specialists, who interfere with the operation of the systems when problems occur. We also provide training and support to users in the process of crypto mining.

Basic device parameters

When choosing mining equipment, you should pay attention to the technical characteristics of asics, which affect the profitability of their work. In addition, noise, reliability, and user reviews are taken into account.

The main characteristics to be guided by when choosing are:

  1. Efficiency. The property indicates the number of mathematical algorithms that the device is able to solve in a certain period of time. The higher the characteristic, the greater the probability of successfully creating a new block and, accordingly, receiving a reward for it. Measured in hashes per second.
  2. Energy consumption. The parameter specifies the amount of electricity that the device uses during operation. Together with the cost of equipment, this is one of the main expense items of the cryptocurrency mining project. It also affects the payback period of the devices. Specified in W/h.
  3. The cost of equipment. The key factor influencing the payback of the project.
  4. Reliability and brand reputation. Choosing miners from well-known manufacturers will help to avoid problems with equipment.
  5. Compatibility and upgrade capability. Before buying, you should make sure that the selected asic model is designed for the extraction of the cryptocurrency that is planned in the project plan. It is also necessary to check the possibility of updating the firmware of the device, which will allow you to maintain high efficiency.
  6. Noise level and cooling. Professional cryptocurrency mining equipment creates a certain level of noise during operation. But some models have lower indicators compared to their counterparts. The devices also generate a large amount of heat, so you should choose machines with a good cooling system.
  7. Warranty and maintenance. Before purchasing, it is necessary to clarify the possibility of warranty and post-warranty maintenance of devices.

The market of asics for mining is constantly changing and improving, so it is important to study the characteristics of new models, their capabilities, and monitor the emergence of new manufacturers and technologies.

We offer models of global manufacturers of asic miners Bitmain, Whatsminer, Innosilicon, etc. The devices are designed to receive popular Bitcoin, Ethereum, Litecoin, Doge and other coins created using existing algorithms.

Our catalog lists the key parameters of the devices – performance and power consumption, the payback of the equipment is calculated separately. You can find out about the profitability of the project using one or another asics model by using the calculator on our website. There is also information about the terms of purchase and maintenance of devices for mining cryptocurrencies.

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