People who dream of getting rich from passive income through Bitcoin mining sometimes assume it's an easy way to get free Bitcoin. It might have been the case in the early years of Bitcoin, but it's a lot different now.
There are many different types of ways to mine Bitcoin, from using computers to rigs, from smartphones to cloud mining. And each method has its own risks, downsides and entry costs. There are also plenty of different types of dedicated Bitcoin mining machines, so it's important to choose wisely before investing your hard earned money in it.
If you're technically savvy, you're in luck. You'll be able to understand and differentiate the various types of Bitcoin mining software and equipment in the market to choose the right one for you. But if you're a non-techie, it'll be an uphill climb.
To help guide you through the process of choosing the best Bitcoin mining machine, let's go through the foundation of cryptocurrency mining - hash rates.
Hash rate is the number of complex calculations that the Bitcoin mining hardware can complete within one second. A higher hash rate increases the chances of solving complex computations in time, while will then help the miner earn Bitcoin as a reward (of lending computational power and solving the complex cryptographic algorithms).
Hash rate is measured in Megahashes, Gigahashes or Terahashes per second. The very first mining hardware carried a hash rate of between 336 MH/s and 14,000,000 MH/s.
Understanding the hash rate and energy consumption of Bitcoin mining machines is the key to running a viable mining operation. It will allow you to calculate the number of hashes that can be processed (or mined) from every watt of electricity that powers the mining rig.
Once you have those numbers, you'll then need to divide the hash rate by the hardware's wattage consumption to get a more accurate calculation.
Best Bitcoin Mining Hardware
Now that we've run through the basics of mining terminology and key data, let’s talk about 3 top Bitcoin mining machines in the market today. If you've ever thought about
mining cryptocurrency in Malaysia, use this guide as a quick way to compare 3 of the best options for your Bitcoin mining machine before you commit for the long-term.
1. Antminer S17
Antminer S17 is the latest product launched by crypto mining giant Bitmain in 2019. It's powered by the BM1397, a new and improved second-generation 7nm chip. Bitmain has claimed that the chip is able to provide a 28.6% improvement in power efficiency compared to the previous 7nm chip, the BM1391.
Similar to the S15 model, the Antminer S17 has two mining nodes and was made especially for mining SHA-256 compatible coins - which includes Bitcoin. The famed Antminer S17 is by far the most powerful Bitcoin mining machine in the market. And it wasn't much of a surprise that the Antminer S17 sold out within minutes of its launch.
Hash Rate: 56 TH/s Normal, 35-50 TH/s Low Power
Power Consumption: 2520W Normal, 1470-2100 Low Power
Power Efficiency: 0.045 W/GH Normal, 0.042 W/GH Low Power
Price: RM10,050 (US$2,400)
2. EBIT E12
A product of China (the unofficial cryptocurrency mining capital of the world), the Ebit Miner E12 has low power consumption, high hash rate function, and uses a proprietary heat sink technology that allows excellent heat dissipation. The external shell material of the E12 is much more robust than the previous model that provides better protection and a potentially longer lifespan.
This Bitcoin mining machine adopts the latest independently developed 10nm chip DW1233 with a hash rate of up to 44TH/S and a power consumption ratio of approximately 57W/T.
Hash Rate: 44TH/S
Power: 57W/T (-5%~+10%）
Price: RM8,080 (US$1930)
3. Antminer S9
Another flagship product of Bitmain, the Antminer series is arguably the most popular and widely used cryptocurrency miner in the world. It's among the most affordable yet powerful mining equipment. The Antminer debuted in 2016 and became well-known as it was the first miner to use a 16nm processing chip.
It's designed for Bitcoin mining (or other cryptocurrencies using the SHA-256 algorithm) and has proven to be a very efficient mining rig. The price of Antminer S9 was well above US$2,000 when it was launched but has seen a number of drops in price.
Although it's seen by many serious crypto miners as an obsolete mining rig, it's still a great option for those new to Bitcoin mining.
What Is the Best Bitcoin Mining Machine?
The answer to that depends mostly on your needs and expertise. For newbies, you’ll most likely prefer something straightforward, while experienced miners might want to explore higher-tech mining hardware. Whatever you feel works for, our picks of the best mining machine will suffice. And if you need further guidance, reach out to our experts on Remitano. All in all, cryptocurrency mining is an interesting activity and a great way for tech and blockchain enthusiasts to be active in the crypto space. Also, Bitcoin mining provides an alternative making money means, whether for passive or secondary income.
