Buy bitcoin miner with bitcoins

Best Bitcoin Mining Software

Now that you already know about the best Bitcoin mining hardware, we’re going to talk about Bitcoin mining software.

What is Bitcoin Mining Software?

Bitcoin mining hardware handles the actual Bitcoin mining process, but:

Bitcoin mining software is equally as important.

• If you are a solo miner: the mining software connects your Bitcoin miner to the blockchain.
• If you mine with a pool: the software will connect you to your mining pool.
• If you are cloud mining: you do not need mining software.

Mining Software Compared

Software	Category	Pricing	Best Feature
	Braiins OS+	Best Overall	1-2% depending on pool	A ton of security features Stratum V2 Bulk device installation
	Hive OS	Best For MacOS	$2/month per device	Amazing mobile app

Quick Tip

Mining is not the fastest way to get bitcoins.

Buying bitcoin is the fastest way.

Importance of Bitcoin Mining Software

The main job of the software is to deliver the mining hardware’s work to the rest of the Bitcoin network and to receive the completed work from other miners on the network.

Bitcoin mining software monitors this input and output of your miner while also displaying statistics such as the speed of your miner, hashrate, fan speed and the temperature.

You may also need Bitcoin tax software in order to calculate your taxes owed. Just as an example, we have a great guide on how that software works to pay taxes on Coinbase buys.

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Bitcoin Wallets

One of the most important things you will need before using any kind of Bitcoin mining software is a wallet.

This is because all Bitcoin mining software will ask you for a Bitcoin address that will be used to send your mining rewards and payouts. Once you create or download a wallet you will be able to get a Bitcoin address from your wallet.

Check out our guide on how to add funds to your wallet.

There are many Bitcoin wallets, but these are the ones we recommend if you are just starting out:

• Ledger Nano X – Secure Bitcoin hardware wallet for all platforms.
• iOS Wallets – The most popular Bitcoin wallets for iOS.
• Android Wallets – The most popular Bitcoin wallets on Android.
• Desktop Wallets – The most popular Bitcoin wallets for desktop.

Now that we understand mining software and how it helps in the mining process, and you have your Bitcoin wallet and address, let’s look at different software on different operating systems.

Disclaimer: Mining Bitcoin is NOT the best way to get bitcoins. Buying Bitcoin is.

To buy bitcoin in your country, check our country guides:

…or visit our exchange finder if your country is not listed above.

Mining Software Overviews

Find the Right Software for You

So which software should you choose?

Let’s go over all the most important info for each mining software.

By the end, you should be able to pick the best bitcoin mining software for you.

Braiins OS+ Overview

Best Bitcoin Mining Software For Windows

Braiins OS is part of Satoshi Labs and is the creation of the original inventor of mining pools, Marek “Slush” Palatinus. You may also know Marek for his invention of the Trezor, the world’s first hardware wallet.

Unlike many other mining software and operating systems, Braiins is completely free. Satoshi Labs makes money off of Braiins OS by offering you incentives to join their Slush mining pool, although this is not required to use their software.

Supported Hardware

Braains OS+ currently supports Antminer S9, S9i and S9j. Support for Antminer S17 and T17 are coming soon. Thankfully, Braiins OS+ makes the S9 family so much more efficient, that it can extend the life of your Antminer S9 ASICs. It achieves this life increase through better mining efficiency, which we will cover next.

Performance

With Braiins OS, you can increase the hashrate of your S9 up to 17+ Terrahashes per second.

Braiins OS+ can also take an S9 on low power mode and deliver 20% better performance than even an S9i.

For aging hardware like the S9 family, this is a crazy performance boost, so we can’t wait to see what Braiin’s will be able to do once they launch support for next gen Antminers like the S17 and T17.

While there is no up front cost to buying the software, you will need to pay Slushpool dev fees by directing 2% of your hashing power to their pool regardless of which pool you end up mining on. However, if you choose to mine with Slushpool for all 100% of your hashing power, that rate drops to 1%.

This is how Satoshi Labs makes money off of Braiins OS.

Features

Braiins OS boasts many features, such as:

• Unlocked SSH
• Automatic Updates to the OS firmware
• Device installation on all your devices at once
• Super Fast boot up speeds
• Pre-heating to get mining faster
• Complete fan control

Command Line

For the more traditional, tech-savvy users, Braiins offers a simple but robust command line interface for their mining software in addition to the more common graphical user interface that most people are used to. Both have their advantages, but many are more comfortable issuing commands with a keyboard instead of mouse clicks.

Two-Factor Authentication

According to Slushpool,

Every important change made to a user account requires email verification. We furthermore recommend enabling two-factor authentication using either TOTP mobile app or a hardware token (U2F). For even better protection, there is a possibility to lock your payout address so it can be only changed in future by a signed message from said address.

Slushpool takes the security of your earnings very seriously, which means a robust set of two-factor authentication options are at your disposal.

Technical Support

Braiin’s OS comes with some of the best documentation of all the mining software. If that doesn’t answer you questions you can reach out to Braiins for help or join their telegram.

Implementation of Stratum V2

Braiins OS+ has also implemented its Stratum V2 communication protocol. This protocol offers truly advanced features for power miners such as bandwidth load reductions, hash rate variance control, and hash rate hijacking protection.

It also comes with a nifty Proxy so that you can still use Stratum on other pools even if it isn’t supported by them.

Should You Use Braiins OS?

There is no one more experienced in mining software than Satoshi Labs, so you really can’t go wrong. These guys are constantly innovating, so even if you are running Linux, you won’t be disappointed in choosing Braiins.

That being said, if you don’t plan to start mining with Slushpool, be aware that you will essentially pay a 2% fee to Slushpool (in the form of redirecting 2% of your hashing power to them). By mining with Slushpool, that cuts in half and becomes very attractive.

For more info on mining pools and how to pick one, see our complete guide on mining pools.

Hive OS Overview

Best Bitcoin Mining Software For MacOS

Hive OS is a dashboard which allows miners to monitor and control all of their ASIC mining and GPUs from one centralized location. Doesn’t matter if they are made by Avalon or Nvidia — Hive OS has you covered.

Centralization is a scary word in crypto but in this case it’s great. Instead of having to monitor miners with different programs, it’s now possible to keep track of everything using Hive’s beautiful, one-stop dashboard.

Hive OS supports Bitcoin (BTC), Eth (ETH), Bcash (BCH), (XMR) and many other coins.

Whether you have three rigs or a thousand, Hive OS can easily integrate with all of them. Installation is easy as Hive OS automatically detects mining rigs and adds them to the dashboard.

HEADS UP!

Mining or buying bitcoins? You can’t do either without a Bitcoin wallet.

Our guide on the best bitcoin wallets will help you pick one.

Tracking Metrics with Hive OS

As a full feature dashboard Hive OS allows miners to track a number of different metrics. That includes but is not limited to,

• Hash rate
• Online status
• GPU errors
• Pool configuration
• Electricity usage
• Team activity

What’s great about Hive is that all of this information can be accessed from anywhere in the world. That means that you can manage a mining operation from anywhere, you don’t have to be physically connected to the miners. You can even use Hive OS to update ASICs (all at one time, it’s not necessary to update them individually) or restart a GPU if it has frozen.

Quick Tip

Mining is not the fastest way to get bitcoins.

Buying bitcoin is the fastest way.

Besides updating their rigs Hive OS allows miners to do the following,

• Change which coins are being mined. Bitcoin or BCH, Litecoin, Ethereum or Ethereum Classic, you can switch on the go if one coin becomes more profitable than another. You can use our profitability calculator as well.
• Change miner configurations all at once, there’s no need to painstakingly change individual settings.
• Change mining pools.

No matter what coins you’d like to mine Hive OS has you covered. They support more than 500 different currencies as well as 85 different mining rigs. To increase the efficiency of your miners Hive OS has firmware that can boost hash rates as well as cut down on energy usage by as much as 25%.

Pricing

Hive OS is surprisingly affordable at $2 per month per ASIC. For larger operations Hive offers discounts to any business with more than 500 miners. It’s also possible to receive Hive for free if you purchase the Hive firmware upgrade for your rigs.

There are a couple of other discounts available. If you deposit three months worth of funds into your account Hive will give you a 30% bonus on your purchase. You have to make the deposit all at once but otherwise there are few restriction on what it takes to qualify. There is also an additional 3% bonus if you make the deposit using a stablecoin like USDT or TUSD.

Easy Install

Setup is super simple with HIVE OS. All you have to do is download the software and it will automatically detect your rig and add them to the management dashboard.

ETH Mining Pool

For Ethereum miners Hive hosts its own mining pool which they claim is one of the most profitable anywhere. Hive mentions that due to their worldwide servers their pool is secure, efficient and also has a high payout. As of publication the expected daily earnings are $1.35 (0.00794 ETH) per 100 MH/s.

The minimum payout for the pool is 0.1 ETH and currently the pool charges no commission fee. There are three servers available. One in Russia, one in Europe and one in North America.

Quick Tip

Using mining software is not the fastest way to get bitcoins.

Try an exchange below for the fastest way to get bitcoins.

Источник

Bitcoin Mining Hardware ASICs

Hobby Bitcoin mining can still be fun and even profitable if you have cheap electricity and get the best and most efficient Bitcoin mining hardware.

Bitcoin mining is competitive. It’s not ideal for the average person to mine since China’s cheap electricity has allowed it to dominate the mining market. If you want bitcoins then you are better off buying bitcoins.

Bitcoin Mining Hardware Comparison

Miner	Hash Power	Price*	Buy
	Antminer S19	95.0 TH/s	$6k-8.5k
	Antminer S19 Pro	110.0 TH/s	$8k-10k
	WhatsMiner M30S+	100.0 TH/s	$2,550
	WhatsMiner M30S++	112.0 TH/s	$2,850
	AvalonMiner 1246	90.0 TH/s	$5,500

*BuyBitcoinWorldwide.com averages prices from various online sources. Actual prices may vary depending on seller.

What is an ASIC Bitcoin Miner?

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

Here’s what an ASIC miner looks like up close:

The Dragonmint 16T miner.

Originally, Bitcoin’s creator intended for Bitcoin to be mined on CPUs (your laptop or desktop computer). However, Bitcoin miners discovered they could get more hashing power from graphic cards. Graphic cards were then surpassed by ASICs (Application Specific Integrated Circuits).

Think of a Bitcoin ASIC as specialized Bitcoin mining computers, Bitcoin mining machines, or “bitcoin generators”.

Nowadays all serious Bitcoin mining is performed on dedicated Bitcoin mining hardware ASICs, usually in thermally-regulated data-centers with low-cost electricity.

Don’t Get Confused

There is Bitcoin mining hardware, which mines bitcoins.

There are also Bitcoin hardware wallets like the Ledger Nano X, which secure bitcoins.

Quick Tip

Mining is not the fastest way to get bitcoins.

To buy bitcoin in your country, check our country guides:

…or visit our exchange finder if your country is not listed above.

Check Profitability

You can use our calculator below to check the mining hardware above. Input your expected electricity price and the hash rate of the miner for an estimate.

Profitability Factors

The Bitcoin price and the total network hash rate are the two main factors that will affect your profitability.

Our calculator is more accurate than most others because ours assumes the 0.4527678% daily increase in network hash rate. This has been the average daily increase over the past 6 months.

Most other calculators do NOT include this metric which makes mining appear way more profitable than it actually is.

The Bitcoin Price

Bitcoin mining is a booming industry, but the Bitcoin price increasing can help make up some of these losses.

The Bitcoin price is increasing at an average of 0.3403% per day over the past year. Try messing with the calculator using different prices.

Know your Competition

It may seem easy to just spin up a miner.

But you NEED to take a look at just how serious mining is.

The video below offers an inside look at one of China’s largest mines.

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. Right now, this is the Halong Mining Dragonmint T1. 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.

QUICK TIP

You can also mine litecoin with Bitcoin mining machines, but it’s usually just best to buy litecoin from an exchange.

Bitcoin Miners for Sale on eBay or Amazon

If you’re a hobby miner who wants to buy a couple rigs for your house, eBay and Amazon both have some decent deals on mining hardware.

Used Bitcoin Mining Hardware for Sale

Both new and used bitcoin mining rigs and ASICs are available on eBay. One may want to buy used ASIC mining hardware on eBay because you can get better prices.

eBay’s customer protection ensures you’ll get a working product. Other bundled equipment may be included with your purchase depending on the seller.

We recommend purchasing the Dragonmint or the Antminer S9.

Hardware Profitability

You can use a bitcoin mining profitability calculator to determine your estimated cost of return on your mining hardware.

Reminder

Don’t forget to think about your tax obligation on the coins you buy or mine. There are some great tax software suites to make it easy! For instance, we have a great guide on how that software works to pay taxes on Coinbase buys.

Be sure to take electricity costs into account. Most mining hardware appears profitable until electricity costs are accounted for.

The best way to determine actual profitability is to figure out your electricity cost per hash. That is really what will make or break your operation.

Most Efficient Bitcoin Miners

Good Bitcoin mining hardware needs to have a high hash rate. But, efficiency is just as important.

An efficient Bitcoin miner means that you pay less in electricity costs per hash.

To improve your efficiency, there are also companies that will let you order hardware to their warehouse and run the miners for you.

You could also cloud mine bitcoins, though these deals are usually scams. Both options are also a lot less fun than running your hardware!

Bitcoin Mining Hardware Companies

Bitmain – Bitmain makes the AntMiner line of Bitcoin miners. Bitmain is based in Beijing, China and also operates a mining pool.

MicroBT – MicroBT is another Chinese ASIC miner manufacturer, based out of Shenzhen. Their WhatsMiner series is a major competitor to Bitmain’s AntMiner line.

Canaan – Canaan put the very first commercial Bitcoin ASIC miner to market. In addition to making Bitcoin mining machines, Canaan also has a suite of blockchain tools and business solutions.

Bitcoin Mining Equipment

In addition to a Bitcoin mining ASIC, you’ll need some other Bitcoin mining equipment:

Power Supply – Bitcoin rigs need special power supplies to funnel and use electricity efficiently.

Cooling Fans – Bitcoin hardware can easily overheat and stop working. Buy a sufficient amount of cooling fans to keep your hardware working.

Backup generators – You may want generators as a backup in case your main source of electricity goes down.

Bitcoin Mining Without Hardware?

It’s still technically possible to mine bitcoins without dedicated mining hardware.

However, you’ll earn less than one penny per month. Mining bitcoins on your computer will do more damage to your computer and won’t earn a profit.

So, it’s not worth it unless you’re just interested to see how the mining process works. You’re best bet is to buy dedicated hardware like the Antminer S19.

ASICs’ Impact on Cryptocurrency

Bitcoin is based on blockchain technology, a decentralized platform which takes power away from a central authority and gives it to the average person. Sensitive information is stored on the blockchain rather than large data centers, and is cryptographically secured. A vast amount of people, known as miners, all work together to validate the network, instead of just one person or government.

In the beginning, CPUs were used to solve cryptographic hash functions, until miners discovered that GPUs were far better equipped for mining. As block difficulty increased, miners turned primarily to GPUs.

Some GPUs were made solely for mining Bitcoin, as you can see demonstrated in the video below:

Eventually, technology was developed solely for mining, known as ASICs, or Application Specific Integrated Circuits. Their hashrates are significantly higher than anything GPUs are capable of.

With stellar performance comes a high price tag – the best ASIC chips will run you a few thousand dollars each. Upon creation, Bitcoin blocks were confirmed by the average person using their desktop – once ASICs hit the market, things changed.

ASICs rendered GPUs useless. ASIC developers, including Bitmain, granted early access to large mining cartels rather than the average person. Nowadays, a large majority of Bitcoin mining takes place in China where electricity is cheap.

Thousands of ASICs all mine simultaneously in a mining farm (large warehouse). Evidently, most people can’t afford just one or two of ASICs, not to mention thousands of them.

When ASICs hit the market, the blockchain’s validation process became more centralized as more and more hashing power was consolidated into a handful of mining companies, rather than being spread out amongst many miners. Unfortunately, Bitcoin is no longer as decentralized as it was once intended to be.

Successor to the Throne

Bitmain Antminer S19 Series

• Market-leading hashrate at up to 115 TH/s, and efficient at

30 Joules per TH/s

Reasonably priced at $440 new (plus shipping)

Popular miner with plentiful guides and parts available

• Out of stock at Bitmain and tricky to find elsewhere
• Very high power consumption of 3250W
• Very noisy at 81.4 dB

Antminer S19 Review

Bitmain’s AntMiner S7 proved so popular since its release in mid-2015 that it reached 19 batches of production.

Now, Bitmain has released a new series: the AntMiner S19.

The S19 is the latest and greatest Bitcoin ASIC miner from Bitmain. It comes in three models: the Antminer T19, Antminer S19, and Antminer S19 Pro.

The T19 puts out 84 TH/s, the S19 95 TH/s, while the S19 Pro boasts up to 110 TH/s of hashing power.

Prices start at $2,118 for the T19 and run to $3,769 for the S19 Pro.

Power Supply

The S19 Antminers require 3250W of power, ± 5%.

The power supply units (PSUs) are included with the miners themselves, meaning you won’t need a separate piece of hardware.

Power Consumption

The S19 draws an average of 3250 Watts at a room temperature of 25^C / 77^F. Naturally, the hotter the environment, the more energy the fan(s) will consume to cool the unit.

Setup

Setting up an S19 via the MinerLink GUI is a simple process, requiring only your mining pool credentials to begin mining.

The units will automatically begin hashing upon powering up, which can be helpful in the event of power failure. S19 connectivity is via Ethernet only.

Temperature

The S19 series miners operate best within a temperature range of 5-40 degrees Celsius (40-105 Fahrenheit).

Keeping the room in which they’re placed cool and dry will extend the life of these miners. A dry basement is an ideal location.

Price

Note: Before you buy an Antminer S19 make sure you already have Bitcoin mining software and a Bitcoin mining pool.

The S19 is currently out of stock due to the high demand for this latest generation of ASIC miners. You can get a used one from anywhere from $6,000 to $8,500.

As new models are released and commercial miners upgrade, you can expect the price of the S19 series to drop further.

Bitcoins / Month (Profitability)

Mining difficulty on the Bitcoin network has been steadily rising at a rate of almost 0.5% per day. Combine that with the fact that the block reward was halved in May 2020, and you can see why there’s fierce competition between miners to successfully validate blocks and remain profitable.

Let’s take a look at how profitable you can expect your mining to be using an AntMiner S19.

We’ll use the most accurate Bitcoin mining calculator out there, which takes into account a number of dynamic variables (such as mining difficulty) to give the best idea of projected returns.

We’re assuming an average household Power Cost of 12c per kWh, a Pool Fee of 2.5% (as charged by AntPool) and a Block Reward of 6.25 BTC per block mined:

As you can see, the S19 is actually a great investment. You’ll almost recoup your entire initial investment in under a year — if paying full price for the S19 from Bitmain — and easily mine your way into the black if you get a discount on the hardware when purchasing.

QUICK TIP

It might make more sense to invest money into buying Bitcoin directly or diverting some of your 401k money into a qualified Bitcoin IRA instead of buying mining hardware like the S19.

Antminer S19 Pro Review

There is of course the big brother to the S19, the S19 Pro!

The S19 Pro boasts up to 110 TH/s of hashing power.

Power Supply

The S19 Pro power supply is the same as the S19 Pro — 3250W of power, ± 5%.

Power Consumption

The S19 Pro generates an average of 81.4 dB while operating.

Setup

Setup for the S19 Pro is the same as the S19. MinerLink GUI is easy, requiring only your mining pool credentials.

The units will automatically begin hashing upon powering up, which can be helpful in the event of power failure. S19 Pro connectivity is also via Ethernet only.

Temperature

Temperature is the same as the S19 — between 5-40 degrees Celsius (40-105 Fahrenheit).

Price

Note: Before you buy an Antminer S19 make sure you already have Bitcoin mining software and a Bitcoin mining pool.

The S19 Pro are also currently out of stock. However, used and second hand models can be had for between $8,000 and $10,000.

Bitcoins / Month (Profitability)

Using all the same assumptions that we did for the S19, you can expect a nice profit around $2,000 a year.

Verdict: Is the S19 or S19 Pro Right for You?

Difficulty has over 300X’d since then, climbing from 0.52 EH/s to the current record high of 158.4 EH/s.

The S19 is one of the most advanced mining units on the market today. Bitmain has consistently been at the top of the game when it comes to ASIC miners.

While supply is limited, and the relatively high initial may be a deterrent, if you have access to cheap electricity you really can’t do much better than the S19 series.

The S19 strikes a good balance between power and affordability, while if money is no object the S19 Pro will churn you out an awesome 115 TH/s.

A Challenger to the AntMiner Crown?

WhatsMiner M30S

The WhatsMiner M30S+ and M30S++ are Shenzhen-based MicroBT’s answer to the Bitmain AntMiner S19 and S19 Pro. The M30S++ puts out 112TH/s ±5%, pushing it a hair above the S19’s maximum output.

Let’s take a look at how they compares.

Quick Tip

Mining is not the fastest way to get bitcoins. Buying Bitcoin is.

Buying bitcoin with a debit card is the fastest way, but we also recommend using a payment network like Skrill or Interac e-Transfer or use a bank transfer such as SEPA when available.

To buy bitcoin in your country or state, check our guides! A few of our most popular are listed below!

…or visit our exchange finder if your country is not listed above.

Whatsminer M30S+ Review

Price and Power

The M30S+, whose 100 TH/s hashing power is comparable to the S19. Unfortunately, its no longer for sale on MicroBT’s site so you’ll need to get it second hand.

Bitcoins / Month (Profitability)

Let’s take a look at how profitable you can expect your mining to be using a WhatsMiner M30S+.

We’ll again use our Bitcoin mining calculator, which takes into account a number of dynamic variables (such as mining difficulty) to give the best idea of projected returns.

We’re assuming an average household Power Cost of 12c per kWh and a Block Reward of 6.25 BTC per block mined:

Power Supply and Consumption

The WhatsMiner M30S+ consumes slightly more power than the AntMiner S19 series, and is slightly less efficient at turning electricity into Bitcoins.

It has an efficiency of 34 J/TH..

The M30S+ generates around 83.0 dB of noise while operating.

Temperature

The WhatsMiner M30S+ operates best between -5 and 35 degrees Celsius (23-95 Fahrenheit). This is a wider range than the AntMiner S19 series, and the lower temperatures it can operate at means you may see slightly improved efficiency.

Whatsminer M30S++ Review

Price and Power

The M30S++ comes in at $3,250 on MicroBT’s online store, making it quite a bit cheaper than the S19 Pro.

Bitcoins / Month (Profitability)

We’ll use the same assumptions here that we have with the other miners to keep things consistent.

While you’ll spend nearly $3,600 per year on electricity, the WhatsMiner M30S++’s 112 TH/2 will make you a profit of $3,611 per year. This means that you’ll need to mine for a little under a year to recoup your initial investment.

Power Supply and Consumption

The M30S++ requires 3472W and runs at an efficiency of 38 J/TH.

Temperature

The WhatsMiner M30S++ again operates best between -5 and 35 degrees Celsius (23-95 Fahrenheit).

Verdict: Is the M30S+ and M30S++ Right for You?

The top-of-the-line M30S++ model’s 112 TH/s means it competes directly with the AntMiner S19 Pro.

However, the M30S series models put out less hashing power than the AntMiner equivalents. They consume more power, and are a little less efficient at turning this into terahashes.

Despite this, you get more hashing power per dollar invested with MicroBT’s WhatsMiner offerings. And AntMiners are incredibly sought-after by the biggest miners in the world, making it hard to get your hands on one.

Overall, the WhatsMiner M30S series is a phenomenal Bitcoin miner, with hashing power rivalling the AntMiners.

If you can get a good deal on a WhatsMiner M30S, use our calculator to see how long it will take you to make a profit in your investment.

Another Worthy Challenger

Canaan AvalonMiner 1246

Canaan was the first company to produce commercial ASIC Bitcoin miners. Safe to say, they have some expertise in the field.

So how does their latest offering — the AvalonMiner 1246, released in January 2021 — stack up to the competition?

Price and Power

The AvalonMiner 1246 puts out 90 TH/s. This makes it comparable to the AntMiner S19 and the WhatsMiner M30S.

It retails for around $5,500, making it quite a bit more expensive than the offerings from Bitmain and MicroBT.

Bitcoins / Month (Profitability)

The Canaan AvalonMiner 1246 should make you a profit, providing you have access to electricity at or around the median price in the U.S. of $0.12/kWh.

It’ll take you about two years of mining to make back your initial investment.

Power Supply and Consumption

The AvalonMiner 1246 draws 3420W at the wall.

Compared to the AvalonMiner 1146, the 1246’s energy efficiency has improved by 37%: from 52 J/TH to 38 J/TH.

It generates a maximum of 75 dB while operating, making it noticeably quieter than either the WhatsMiner M30S or the AntMiner S19.

Temperature

The AvalonMiner 1246 operates best between -5 and 35 degrees Celsius (23-95 Fahrenheit). This is a wider range than the AntMiner S19 series, and equal to that of the WhatsMiner M30S.

Verdict: How Does the AvalonMiner 1246 Stack Up?

With Canaan, you know you’re getting a battle-tested product.

That said, the AvalonMiner 1246 doesn’t offer the most terahashes per dollar spent. If you’re looking for the most hashing power, Bitmain’s S19 series and MicroBT’s M30S have it beat.

Mining Difficulty and Centralization

Bitcoin’s Difficulty has recorded several strong and often consecutive monthly increases since its creation. The network has seen a massive increase in hashrate since the July 2016 halving.

In the nearly five years since, total network hashrate has climbed more than 100-fold from

1.5 EH/s (exahashes per second) to 168 EH/s.

The current all-time-high occurred on February 8, 2020, when Bitcoin miners collectively contributed 175 EH/s of hashing power to the network.

Such tremendous growth has been spurred by major investment into Bitcoin mining technology and operations.

While such growth is impressive, making Bitcoin the world’s most powerful computing network by far, one unintended consequence of such rapid growth has been increased centralization.

Profits have accumulated where mining is most profitable (China), with the result that several competing operations (eg. KNC) have been forced out of the industry.

We have tried to calculate the amount of money that the Chinese have invested in mining, we estimate it to be in the hundreds of millions of dollars. Even with free electricity we cannot see how they will ever get this money back. Either they don’t know what they are doing, but that is not very likely at this scale or they have some secret advantage that we don’t know about. – Sam Cole, KNC CEO

The same Chinese competitive advantage has been doubly effective at squeezing the profit-dependent hobbyist miner from the market.

At this stage, most home or office miners aren’t hashing to earn money but rather to support the network, aid decentralization and possibly even to heat space.

With the block reward halving looming, the profitability of all but the most efficient operations will likely be challenged.

Profits derived from the current generation of mining hardware are dwindling and will likely reach negative returns when the next halving rolls around.

What is CompassMining?

CompassMining is what is known as a ‘colocation mining company’.

Basically, regular people who can’t afford to start a mining farm or source dozens of ASIC miners can partner with a company like CompassMining.

With Compass, you simply make an account and then go through a purchasing process.

You’ll choose some ASICS to buy.

Then you’ll choose a hosting package at one of CompassMining’s many state of the art facilities.

Each facility comes with its own power costs and security features. For instance, the Colorado, USA location requires biometric access for all personal.

And then you checkout using card, bank wire, or (for a slight discount) crypto.

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If you want to pay via bank wire, choose ‘Pay with Stripe’ and then choose ‘Bank Wire’ from the pop-up.

After you make your purchase, your hardware will be delivered to your specified hosting location where it will be installed and maintained by CompassMining staff.

You will be able to monitor and control all of your mining activities from the comfort of your own home without any of the headache of running a mining farm by yourself.

And best of all, you get to leverage CompassMining’s fantastic electricity prices without having to strike up a deal with a large power company on your own.

In exchange, Compass makes money on the hosting fees and the hardware you buy through them.

Final Thoughts

Mining bitcoins at home has almost become an impossible task these days.

Not only are the devices expensive but they also generate a lot of heat and noise, not to mention the amount of electricity they consume.

This makes it uncomfortable and almost impossible to make any profit!

Unlike with the Antminer S9, S7, or Antminer S5, with Antminer R4, Bitmain is targeting the home Bitcoin miner market.

It is a home Bitcoin miner that may actually turn a profit, unlike Bitcoin USB miners.

Some of these problems mentioned above have been addressed and as a miner you can do it as a hobby while also making some money.

This home Bitcoin miner is not only a good fit for hobby miners but also helps to improve the decentralization of Bitcoin mining as a whole.

The more distributed the hash power, the stronger the Bitcoin network!

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