Bitcoin Mining Hardware Guide
Despite the Bitcoin mining hardware requirements specification potential of mining Bitcoin, your Bitcoin mining hardware’s upfront and energy costs can actually do harm to your bank account.
Picking the wrong hardware could cost you more money to operate than the amount of funds you earn mining Bitcoin with it.
To avoid losing a profit on your Bitcoin mining, we curated a list of the best Bitcoin mining hardware, with their price, hash rate, and energy consumption, to help you decide which hardware is best for you, no matter how much mining experience you have. Read on to find the right Bitcoin mining hardware requirements specification mining hardware for you.
7 of the Best Bitcoin Mining Hardware of 2018
1. Bitmain Antminer S9i
Picture Credit: ASIC Miner Value
Since it's considered the most popular Bitcoin mining hardware in the world, the Antminer S9 is entirely sold out on Bitmain’s website. Fortunately, though, Bitmain released the Antminer Bitcoin mining hardware requirements specification for only $499 this May. The S9i boasts a hash rate of 14 TH per second and an energy consumption of 1,320 watts, which makes it one of the most efficient Bitcoin mining hardware out there.
If you’re an intermediate or expert miner trying to make a profit, the low upfront cost and high efficiency of the Antminer S9i could offset its somewhat lofty energy costs and help Bitcoin mining hardware requirements specification make some money.
2. Halong Mining DragonMint T1
Picture Credit: ASIC Miner Value
Out of all the Bitcoin mining hardware on the market, the DragonMint T1 has the highest hash rate of 16 TH per second. And with an energy consumption of 1480 Watts, which translates to a 0.075 Joules per Gigahash ratio, it's the most powerful and efficient Bitcoin mining hardware out there.
Naturally, there’s a lot of demand for the DragonMint T1, so you'll have to pay a hefty Bitcoin mining hardware requirements specification of $2,729 to buy it. But if you’re an expert miner with low electricity costs, the power and efficiency of the DragonMint T1 could offset its high upfront cost and help you turn a profit.
3. Bitmain Antminer T9
Picture Credit: ASIC Miner Value
With a hash rate of 12.5 TH per second and energy consumption of 1,576 Watts, the Antminer T9 is less powerful and efficient than the Antminer S9i, but it’s considered the more reliable option. It has higher quality chips compared to the S9i, so it’s more stable and doesn’t burn out as fast.
You should expect to pay around $500 for an Antminer T9. If you’re an expert miner who wants a durable mining hardware, this is a good option.
4. Pangolin Whatsminer M3X
Picture Credit: ASIC Miner Value
Even though it uses the most power out of all the hardware on this list, requiring 2,050 watts of energy, the Whatsminer M3X is also one of the most powerful, possessing a hash rate of 12.5 TH per second.
The M3X is also more affordable than other powerhouse hardware, costing $1,022, which can offset its high energy costs and help you earn a profit. If you’re an expert bitcoin miner with below average electricity costs, this could be the best hardware for you.
5. Bitmain Antminer R4
Picture Credit: ASIC Miner Value
Bitmain’s Antminer R4 falls right behind the Antminer S9i in terms of efficiency, with a hash rate of 8.7 TH per second and a small energy consumption of 845 watts. Another one of the R4’s best features is that it runs almost silently, making it the ideal hardware for mining bitcoins at home.
The R4’s convenience and efficiency comes at a cost, though -- you’ll need to spend $2,999 to buy it on Amazon. If you’re a hobbyist or intermediate Bitcoin mining hardware requirements specification trying to make money at home, consider using the Antminer R4.
6. Avalon6
Picture Credit: Buy Bitcoin Worldwide
Listed at $300 on Amazon, the Avalon6 is one of the most affordable Bitcoin mining hardware, and it's the easiest to set up. But it also has low efficiency, possessing a hash rate of 3.5 TH per second Bitcoin mining hardware requirements specification a relatively high energy consumption of 1050 watts.
Unless your electricity costs are extremely cheap, using the Avalon6 to mine more Bitcoin than it costs Bitcoin mining hardware requirements specification operate is nearly impossible. The Avalon6 is best for beginners or hobbyists, since you’ll most likely never make a profit using the hardware.
7. Bitmain Antminer S7
Picture Credit: ASIC Miner Value
Another solid Bitcoin mining hardware for beginners or hobbyists is the Bitmain Antminer S7. Its low $200 cost matches its low efficiency -- it has a hash rate of 4.73 TH per second and energy consumption of 1293 watts. But if Bitcoin’s price shoots up and you can find extremely cheap electricity, it’s possible to make Bitcoin mining hardware requirements specification profit using the hardware.
Auto coin switching for maximum profitability
How to Build a Mining Rig? Step by Step Guide
What is a mining rig?
Mining rigs are simply powerful computer systems set up to carry out mining of a cryptocurrency.
A rig could be Bitcoin mining hardware requirements specification specialized and dedicated system that is used for mining or otherwise be meant for other operations like gaming and be utilized for mining when needed.
How does a mining rig work?
A mining rig works by using the mining software on a miner to hook the mining hardware to a given mining pool.
The mining rig points the rig’s hash rate at the pool before participating in the process of securing and completing Bitcoin mining hardware requirements specification on the network.
You get rewarded when your rig helps the pool add a block to the blockchain.
What are the different types of mining rigs?
#1 CPU mining
This is the process of mining crypto using a CPU processor to perform the computational algorithms to solve blocks. However, it is no longer widely used.
What are the pros and cons of CPU mining?
Pros
- The CPU mining rig is inexpensive since it can be done with an ordinary PC. You can mine other newer altcoins with CPU easily.
Cons
- It is the slowest form of mining; almost obsolete. Low hash rate. It’s not profitable because it’s slow.
#2 GPU mining
GPU mining rig involves the use of graphics card to complete the mining process in a network. It is used more widely for bitcoin mining than with CPU.
What are the pros and cons of GPU mining?
Pros
- Higher hashing power compared to CPU. Useful in mining a wide variety of cryptocurrencies that have different hashing algorithms. Profitable when done properly.
Cons
What to consider when building a mining rig?
Consider the following when building Bitcoin mining hardware requirements specification own mining rig.
#1 Hash rate
Hash rate refers to the total number of calculations that the mining hardware can handle every second when the mining process is on.
We measure hash rates in terms of their megahashes (MH/s), gigahashes (GH/s), and terahashes (TH/s) per second.
In mining, the higher your hash rate, the more it is likely that you Bitcoin mining hardware requirements specification end up successful in getting a transaction secured and Bitcoin mining hardware requirements specification means a higher chance of getting an ROI.
#2 Energy consumption
Cryptocurrency mining consumes huge amounts of power and therefore, the cost of electricity is always higher. Beware of how Bitcoin mining hardware requirements specification that given to set up will consume vs. the expected ROI.
To be on the safe side, look at the hardware’s power consumption in Bitcoin mining hardware requirements specification before making a purchase.
To find out your hardware’s energy consumption, take the hash rate figure and divide it by the wattage of that hardware.
#3 Hardware prices
It is good to consider the prices of the hardware equipment you are going to use.
The cost to put up the rig should be proportional to the expected profits. Check the market for cost-effective tools that give you performance and yet are not too expensive.
You can use Amazon or BestBuy as a reference.
#4 Maintenance
Maintenance is a key component if you want to get the best out of your DIY assembled mining rig.
As you set up the rig, consider the maintenance costs, the frequency of doing so and how that can be Bitcoin mining hardware requirements specification done to ensure you have an output equivalent to the costs.
Things like the cooling system need frequent checks, so consider getting one that won’t bog you down with constant failure.
How to build a mining rig?
How to build a mining rig may appear a daunting task at first but once you get everything you need, you will find it much easier than you initially thought.
And therefore, the very first thing is to assemble everything you will need so as to save yourself the hassle of running up and down trying to locate this or that.
It is also important to be accessible to:
- Reliable electricity supply. Ethernet (wireless can do, but Ethernet is the best).
Here is what you need to start with:
Motherboard
A motherboard is simply that big flat component of your computer that everything else plugs into. Whatever device you choose must be compatible Bitcoin mining hardware requirements specification the MOBO.
The motherboard will determine the kind Bitcoin mining hardware requirements specification CPU to use, the number of GPUs you can add, and memory limit.
To check if the CPU and your MOBO are compatible, use the Part Picker tool for PCs. A good MOBO for mining rigs should have the capacity for at least 6 GPUs.
One of the best MOBOs out there is the MSI Z170A Gaming Pro Carbon.
Cooling
Another very significant factor to consider is where you want to put up your rig. This is important because we want to have our rig in a well-ventilated place that would aid in cooling the rig. It is important to keep your GPU rigs in a cool area because they tend to overheat.
The GPU should have an optimal temperature to operate in.
Cooler rigs will have a better output which is our aim. So you should use AC, air duct boosters or oscillating fans to keep the room cool.
Graphics card
You will, of course, need a graphics card (or many of them) which is the main component that will be solving difficult mining problems.
We recommend Nvidia GeForce GTX 1070 because of its performance or AMD RX 480 for its low price and the fastest ROI.
Power supply
How much power do I need for my rig? That solely depends on the hardware used.
Since your graphics Bitcoin mining hardware requirements specification will draw the most power, please refer to its manual to see the max power consumption. If you have more cards in the rig the desired power could be calculated as follows:
<Recommended power in Watts> + (<number of cards in the rig> x <max power consumption in Watts>)
In the Bitcoin mining hardware requirements specification of 6x Nvidia GeForce GTX 1070 the equation would look like this:
500W + (6 x 180W) = 1580W
Thus 1500-1600W power supply would give you plenty of room for your rig without risking any overload.
In that case, we recommend you have a look at Thermaltake Toughpower 1500W 80+ Gold power supply.
Are you ready to mine? Let’s build our mining rig.
#1 Setting up your rig frame
Get something that can hold your rig’s hardware together. If you are building a smaller rig, an old computer case will do.
However, you can also opt for commonly used items in the home like milk crates, wire racks or wooden frames.
Alternatively, you can go for one that is ready-made; though you’d need Bitcoin mining hardware requirements specification be sure it will fit the rig you intend to build.
#2 Set up your motherboard
Place the motherboard on a flat non-static surface and carefully insert the CPU component into the socket.
Use thermal paste to have your custom cooler attached to the CPU. Learn how to correctly apply thermal paste to CPU or GPU if you've never done it before.
Make sure not to tamper with the CPU fan. Connect this CPU fan to a 3-4 jack and then to the RAM.
Place the motherboard onto the rig frame and secure it into place using screws. Be attentive not to have Bitcoin mining hardware requirements specification motherboard touching any metallic surface (metal surfaces are conductive).
Connect your SSD to the motherboard and secure it into place too.
#3 Install the PSU
Connect the motherboard to the power supply unit using the 24-pin connector near the CPU. Use the 8-pin connector to connect the CPU to the PSU.
Then connect the SATA to the SSD. At this point, ensure the SSD has a power supply connection and Bitcoin mining hardware requirements specification it Bitcoin mining hardware requirements specification a SATA properly connected to the motherboard.
You should zip-tie any extra cables that may get in your way. It is sometimes challenging to have the wires in place neatly, so Bitcoin mining hardware requirements specification patient and use zip ties to hold the wires in position.
With the PSU in place, install the Molex and the 6 pin or if otherwise, the 6 +2 cables into the power supply unit.
The next thing is to power the GPU risers. This is done from the SATA cables. Just take the SATA power cables and line them next to each GPU position along the rig.
#4 Adding GPU risers
It is much easier to just have the USB and Molex cables installed into Bitcoin mining hardware requirements specification RISER socket before attaching the GPU.
Secure your GPU to the rig frame before you proceed to connect the USB into the motherboard slot. Do this one riser at a time till all are done.
After you are done with the risers, connect all your PCIe cables to the GPUs. Every Molex cable comes with at least 3 connecting cables, so you should be able to use 2 of the 3 connectors on 2 different GPU cards.
For instance, I am imagining you have chosen to go with 5 cards. In this case, attach one card to the motherboard and the other 4 to the Risers.
Therefore, if you have 2 Molex cables, you should be able to connect all the other four cards.
#5 Booting up
First, you must have an OS system of your choice on a USB drive.
When booting up for the first time, have your computer monitor connected to the motherboard. The connection should be either to the motherboard’s Graphics output or essentially to GPU.
Next, plug the PSU into the wall socket before you connect the Ethernet cable. You should then boot up the computer and go to BIOS. Getting into BIOS is usually Bitcoin mining hardware requirements specification, but if it doesn’t seem to be getting you there, press the DEL button whiles the PC boots.
Go Bitcoin mining hardware requirements specification and set your rig to automatically reboot Bitcoin mining hardware requirements specification case of power outage.
Next, check the PCIE subsystem and set it to either gen 1 or gen 2. If the default is set to auto, that’s fine. Proceed to shut down your PC.
#6 Reboot the system using the USB stick you installed.
First, load the OS and go to windows. Once on windows, proceed to the website of the motherboard you used.
Use a second computer to download all the relevant drivers that are available.
Install the drivers and run windows update to have the computer system up to date.
#7 Optimize windows.
Disable Superfetch. With the SSD in place, the will be the set up: .
You should then disable all updates and make sure you cancel any scheduled tasks.
Download the latest version of video card drivers and then do an installation.
Once done with the installation, reboot your computer.
On booting up, go to Device Manager to check and verify that the system has detected all the GPUs.
#8 GPU BIOS set up.
Before you proceed, it is also prudent to make a backup of all the files. For the RX series, I recommend you go for Polaris Bios Editor.
Next, we want to set up our GPU by doing a BIOS flash. To do this, flash the BIOS of each and every GPU with AtiFlash.
Once the process is done, reboot your computer.
#9 Download Mining Software.
On reboot, check once more if the system still detects all the cards.
Login and download your preferred mining software and install. Just to name a few: BFGminer, CGminer, NiceHash
The next thing is to choose a pool and set up your pool’s credentials.
Choosing a pool is essential if you are to realize a good ROI because if you choose to solo mine, the returns will be too little and far apart.
You should now go ahead and set up the .BAT file to automatically start the mining software of your choice on system startup.
Go to and have a .BAT file shortcut created. The file should either come with the mining software or you have to create it manually.
#10 Download and install overclocking software.
Download the MSI Afterburner, SAPPHIRE TriXX or any other overclocking application.
Use that to make adjustments to the GPUs core, voltage and memory. Aim at having low voltage use but high memory clocks for crypto like ETH.
It is possible to lower the core clock when using one of the RX cards.
When mining other cryptocurrencies, it is advisable to set the rig at low voltage use but high core clocks.
For optimum output, tweak around with the settings until you get what’s best for you.
*****
The value of cryptocurrencies like Bitcoin and Ethereum has added to the attraction people have for them.
Mining is one of the most profitable ways of getting the coins. But it needs dedication and readiness to invest. As such, you need to do is have a good rig to help you get started.
The views expressed here are those of Bitcoin mining hardware requirements specification author(s) and do not necessarily represent the views of Freedom Node.
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With iMiner, it is possible to do bitcoin mining even with $1!: bitcoin mining: My portfolio
The Cryptocurrency Mining Craze: Energy Consumption, Hardware, and the Controversies in Between
Bitcoin and cryptocurrencies have brought blockchain, algorithms, GPUs, and security issues into the public consciousness. Cryptocurrency mining, however, has also introduced issues of hardware shortages and changed the way we look at currency generation. So—what's up with Bitcoin mining?
While the value of Bitcoin mining hardware requirements specification (and most other cryptocurrencies) decreased significantly at the beginning of 2018, there appears to be momentum again with values rising. Cryptocurrency mining has become so rampant that it has had a fairly significant impact on the GPU market, and more regularly news article are popping up about stolen electricity for the purpose of cryptomining.
Here's some basic information about cryptocurrencies (primarily Bitcoin), mining, and why it matters.
A Brief History of Bitcoin
In 2008, a white paper was Bitcoin mining hardware requirements specification titled “Bitcoin: A Peer-to-Peer Electronic Cash System”, authored by Satoshi Nakamoto, though that name is widely understood to be a pseudonym. This white paper was one of the first Bitcoin mining hardware requirements specification popular uses of the term Bitcoin.
The core idea of Bitcoin was to be a form of decentralized, private currency that used the blockchain to keep a record of how currency was spent, and to use a distributed network of nodes that would all confirm, or deny, a transaction occurred. If the majority of the node network agreed that the transaction was valid, it would be added to the master blockchain and become part of the “ledger” forever. It solved double spending, decentralization, and was envisioned as the currency of the future where no government or bank controlled it. Part of the incentive of setting up and running a Bitcoin node is that there is a reward in exchange for work. So, by installing the Bitcoin software and lending your CPU/GPU to the cause, users could make virtual money.
In Bitcoin’s beginnings, it developed a reputation of being a quirky Internet currency often associated with shady purchases on the Deep Web. Some people “mined” for Bitcoin, that had a maximum value of only $0.39 in 2010. Just shy of a decade later, cryptocurrencies have exploded in popularity and created their own culture around its use. There are now countless blockchain-based projects and currencies, all with different use cases, advantages, and disadvantages. There is also an accompanying lexicon now associated with cryptocurrencies (“HODL”, “to the Moon”, etc).
In late 2017, Bitcoin’s highest value to date peaked, reaching a value of nearly $20,000 per Bitcoin, drawing even more interest into cryptocurrencies.
Bitcoin's value peaked in lae 2017. Image courtesy of CoinMarketCap.
While Bitcoin mining hardware requirements specification value of Bitcoin (and most other cryptocurrencies) decreased significantly at the beginning of 2018, there appears to be some momentum again with values rising. Predicting the value of Bitcoin is like trying to predict the stock market—there’s no foolproof way to know whether Bitcoin mining hardware requirements specification not values will rise or fall. Bitcoin mining hardware requirements specification, what is known is that cryptocurrency mining has become so rampant that it has had a fairly significant impact on the GPU market, driving up hardware prices, and has also increased reports of electricity theft for the purpose of cryptomining.
Focusing primarily on Bitcoin, here is some basic information on what it means to mine, what the current hardware requirements are, and why cryptocurrency mining has become controversial.
Hashcash and Proof-of-Work
As mentioned before, mining is the process of verifying a transaction and results in being rewarded for the work of doing so. In order to make this verification, the input of a hash function that matches given information about its output and a target range must be found—a mathematical problem that can take significant computer power to solve.
The first miner to find a suitable solution “wins” and Bitcoin (or whatever cryptocurrency is being mined) is awarded. In terms of blockchain, you are looking for the new block that is to be added to that chain based on the hashing output.
Bitcoin, in particular, uses the hashcash proof-of-work function. Hashcash was originally developed in 1997 as a way to prevent DoS attacks, anti-spam, and network abuse. For Bitcoin, Hashcash SHA256 is used twice for hashing (double hash)—this Bitcoin mining hardware requirements specification more precautionary than necessary since a single SHA256 hash is sufficient for Bitcoin.
Hashcash is difficult to invert function. It is very easy to compute the hash output given an input value, but extremely difficult to find the input value given the output. To invert the function using a brute force method, the complexity would be O(2256).
In Bitcoin, the hashcash function has to be adjusted to make sure that proof-of-work can only be claimed once: a service string, a starting point, and a counter are also included so that each miner will start work at a different point, with different numbers, even if it is trying to verify the same information. Then, when a miner does succeed in finding a solution, the miners then move on to other problems. It’s a bit of a game of luck.
Image courtesy of Bitcoin StackExchange.
Mining is becoming more difficult because the algorithm adjusts based on how many “miners” there are on the Bitcoin network—the more miners and the more consensus that must be reached, the more difficult it becomes to solve each block.
A block should be solved every 10 minutes so to keep this rate, the difficulty must go up with more miners and down with less. This correlates strongly with the price of Bitcoin; if its value is high enough, then mining it even at high hardware and energy costs, is still offset. If the reward of solving a block is 12.5 BTC, then you could make $200,000 USD from a single successful solve. And if you want to be the first person to solve a problem, Bitcoin mining hardware requirements specification have to be the fastest at doing so. That brings us to our next topic.
Current Bitcoin Mining Hardware Requirements
During Bitcoin's first years, mining didn’t require specialized hardware. With a reasonably decent laptop, Bitcoin software, and an active Internet connection, it was possible to mine a few coins. The minimum recommended system requirements are:
- 145 GB of ask spaceAn Internet connection with an upload rate of 5GB/day and 500mb/day download rateAt least a 1 GHZ > ARM chipset1 GB RAMWindows 7/8/10 or Linux or Mac OSxPlus a one-time140GB download of Bitcoin core
Seems fairly accessible, right? There are, however, professional Bitcoin mining “farms” being established where warehouses are Bitcoin mining hardware requirements specification up with shelves of ASICs solving blockchain problems. When competing with setups like this, mining from a standard laptop using a CPU or GPU is becoming a fairly useless effort especially relative to the actual cost for the electricity to do so.
It’s this competition on the network to solve problems that has set the bar so high for hardware requirements to make it worth the investment. (Bear in mind, though, that there are some other cryptocurrencies that are still mineable using more basic hardware.)
One of many ASICs that can be purchased for Bitcoin Bitcoin mining hardware requirements specification. Image courtesy of Amazon.
ASICs for the purpose of Bitcoin mining is customized hardware made for the specific Bitcoin hash. While an ASIC is roughly 100,000x faster than a CPU, they run at about $3000 USD per ASIC. Furthermore, while mining, ASICs generate a significant amount of heat, requiring cooling, requiring even more electricity. You can see why the costs can become prohibitive quickly and why cryptocurrency farms tend to exist in areas where electricity is cheaper and the climate is cooler.
Controversies
So, of course, there are controversies associated with mining.
First, there is a matter of the energy used Bitcoin mining hardware requirements specification cryptomining. When the world appears to be trending towards more efficient and “green” use of energy, cryptomining can appear to be the exact antithesis of that. There are estimates that the Bitcoin uses roughly 30 TWh Bitcoin mining hardware requirements specification electricity per year, which is about the same as a medium-sized country (~population of 6 million people). However, it can be pointed out that large data centers easily use just as much, or more, energy.
The local effects can then be considered; in China, electricity is primarily generated from coal; reports are that a rise in cryptocurrency farms in Iceland could outpace the country’s electricity generation if not controlled; in some areas, the establishment of cryptocurrency farms is having an impact on the cost of electricity for local residents and businesses.
There has also been lots of talk about the “cryptocurrency bubble”, suggesting the value of cryptocurrency is a fad and sometime in the future Bitcoin mining hardware requirements specification be worth nothing.
There is a Bitcoin mining hardware requirements specification of philosophies on how to use cryptocurrencies. Some people want to see it being constantly earned and spent as a currency, others say to “HODL” (a meme-ish, widespread misspelling of "hold"). Some use it like a stock, buy into a currency, and then sell it when it’s worth more, converting it back into centralized cash (FIAT).
An example of a Bitcoin mining hardware requirements specification mining farm. Image courtesy of Kyiv Post.
Probably more upsetting to the non-cryptocurrency individual, someone hoping to simply enjoy a decent GPU, is the sudden scarcity of a reasonably affordable and decent video card for their next computer build. This is because crypto-miners are buying them en masse.
In fact, NVIDIA began to limit the number of units that could be purchased online, and cards were appearing online on third-party websites being sold for double their retail price.
Cryptocurrency and mining is an interesting new phenomenon with unexpected effects on economies, environments, and hardware supplies. There's no real way to be certain about what to expect next (will the trend continue, will it plateau, will it die off completely, will I ever be able to get a new graphics Bitcoin mining hardware requirements specification for my PC.). But regardless of how uncertain the future of cryptocurrencies is, if its value is on the rise again, mining is probably here to stay.
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