HOW TO START BITCOIN MINING (BITCOIN MINING HARDWARE)

HOW TO START BITCOIN MINING (BITCOIN MINING HARDWARE)

To start Bitcoin mining, You need to acquire Bitcoin mining hardware.

There are three main categories of Bitcoin mining hardware. GPUs, FPGAs, and ASICs.

There are two main things in choosing Bitcoin mining hardware following are.

Hash rate –  The Hash rate is described as the number of calculation that your device can perform every second as it tries to solve the mathematical riddles which I explained in my Bitcoin mining section.

Higher the value of hash rate more likely your chance to solve a transaction block. Hash rate is measured in Mega hashes, Giga hashes, and Tera hashes per second.

Energy consumption – Energy consumption is another factor in choosing Bitcoin mining hardware. It is evident if you use mining hardware it will consume electricity.

You don’t want to spend all your money on electric bill to mine coins which won’t be worth what you paid.

For this issue first, calculate the GHz/sec per watt. Let’s say you have 1000 GHz mining device and it takes 800 Watt of electricity than divide the Hash power of your device by power it consumes.

So according to our device which is of 1000 GHz and 800-watt power, it consumes than you are getting 1000/800 = 1.25 GHz/sec per Watt.

Calculate with any online electric bill calculator how much money you have to pay for this consumption.

And also take in mind the computer power consumption. So add computer energy consumption with mining device consumption and accordingly choose the Bitcoin mining hardware device which is profitable for you.

Types of hardware mining device

CPU/GPU –

Your computer itself mine coin for you. But it is a least powerful Bitcoin mining hardware device. It can take decades to extract a single coin, so that doesn’t make any sense.

You can increase your computer mining power by adding a graphics card to the appliance. Graphics card features GPU (graphical processor unit). These are designed for heavy mathematical calculations so they can solve all complex polygons require in high-end video games.

The massive parallel nature of GPU can increase mining power 50 times to 100 times while using less power per unit of work. Any GPU can be used to mine, but overall AMD line of GPU architecture proved far superior to Nvidia line of design. So I will recommend ATI Radeon line of GPU to be used for mining

GPU mining can mine other crypto coins too like Litecoin. But along with GPU, you have to equip your PC with a high-end configuration like motherboard which can take multiple boards, high-end Intel, and AMD processors, minimum 32 GB ram, etc.

Buy VisionTek AMD Radeon 7870 2GB GDDR5 6M (6x MiniDP) Graphics Card – 900548

 

FPGA – 

FPGA stands for Field Programmable Gate Array. A FPGA is an integrated circuit designed to be configured after being built. It enables manufacturers to buy chips in volume and then customize them for Bitcoin mining before putting them in hardware mining device.

As FPGA is dedicated to Bitcoin mining, it improves its performance over CPU/GPU hardware mining device.

FPGA does not increase mining speed 50 times to 100 times like CPU/GPU device, but they reduce electricity consumption and make it more easy to use. For example, an 800 GH/z FPGA mining device only consumes 80 watts of power. So FPGA mining device is more profitable than CPU/GPU mining device.

ASIC Bitcoin miners

ASIC stands for Application Specification Integrated Circuits. They are specifically designed for Bitcoin mining with quicker speed and low power consumption.

ASIC devices increase the hashing rate 50 times to 100 times and reduce the power consumption up to 7 times. They are top of the class Bitcoin mining device dedicated for only Bitcoin mining. ASIC devices are the most superior Bitcoin mining devices present in the market.

But they are expensive and took more time to produce. But these devices have mind-boggling mining speed.

ASIC devices are more profitable and if you want to try your luck in Hardware Bitcoin mining than these Bitcoin miners are top notch.

NOTE – Before buying the Bitcoin mining hardware device, Calculate the projected profitability of your device by using the mining profitability calculator from GENESIS BLOCK AND BITCOINX.

DOWNLOAD BITCOIN MINING SOFTWARE

Depending upon Bitcoin mining hardware device you choose, you need to choose related software to run it.

For CPU/GPU and FPGA mining device, you will need a host computer running two things the standard Bitcoin client, and the Bitcoin mining software.

Standard Bitcoin client connects your computer to the network and enable it to interact with Bitcoin client, forwarding transaction, and keep track of the blockchain.

Bitcoin mining software enables hardware to do hard work, passing through transaction blocks for it to solve. Bitcoin mining software is available for Windows, Linux, Mac, and others.

You will need Bitcoin mining software for ASIC Bitcoin mining hardware devices too. But now newer models are coming with pre-configured software, and you just have to plug them to start mining.

CHOOSE BITCOIN MINING POOL

Next step is to join Bitcoin mining pool. Bitcoin mining pools are a group of Bitcoin miners working together to solve a block and share its rewards.

Without Bitcoin mining pool you can mine Bitcoins for a decade and will not earn a single Bitcoin. So it’s far more convenient to join a pool work with other large groups of Bitcoin miners and share its rewards.

There are list of Bitcoin mining pools

. BitMinter

. CK Pool

. Slush Pool.

.p2pool

. Eligius

p2pool is most recommended.

ASIC Bitcoin mining hardware devices available in market

1Antminer s7

 

Bitcoin mining hardware

Specifications:

1. Hash Rate: 4.73 TH/s ±5%

2. Power Consumption: 1293W ±10% (at the wall, with APW3, 93% efficiency, 25C ambient temp)

3. Power Efficiency: 0.25 W/GH ±10%(at the wall, with APW3, 93% efficiency, 25°C ambient temp)

4. Rated Voltage: 11.60 ~13.00V

5. Chip quantity per unit: 135x BM1385

6. Dimensions: 301mm(L)*123mm(W)*155mm(H)

7. Cooling: 1x 12038 fan

8. Operating Temperature: 0 °C to 40 °C

9. Network Connection: Ethernet

10. Default Frequency: 700M

Prize – 894.95$

Appx Bitcoins earning per month – 0.1645 BTC

Buy Antminer s7 from Amazon

 

2.Antminer S9 ~14.0TH/s @ .098W/GH 16nm ASIC Bitcoin Miner

 

antminer s9 Bitcoin mining hardware device

 

Specifications:

1. Hash Rate: 14 TH/s ±5%

2. Power Consumption: 1323W ±10% (at the wall, with APW3, 93% efficiency, 25C ambient temp)

3. Power Efficiency: 0.098 W/GH ±7%(at the wall, with APW3, 93% efficiency, 25°C ambient temp)

4. Rated Voltage: 11.60 ~13.00V

5. ASIC Chip: BM1387

6. Dimensions: 350mm(L)*135mm(W)*158mm(H)

7. Cooling: 2x 12038 fans

8. Operating Temperature: 0 °C to 40 °C

9. Network Connection: Ethernet

10. Default Frequency: 600M

3. AntMiner L3+ ~504MH/s @ 1.6W/MH ASIC Litecoin Miner (504MH)

Bitcoin mining hardware

Features

Scrypt Mining Hash Rate: 504MH/s (±7% is expected).

Power Consumption: 800W (±10%) at the wall (with Bitmain’s APW3 PSU, 93 percent efficiency, 25C ambient temp).

Power Efficiency: 1.6 J/MH at the wall (with Bitmain’s APW3 PSU).

Chip quantity per unit: 288 x BM1485.

Rated Voltage: 11.60 ~13.00V.

Operating Temperature: 0C to 40C.

Network Connection: Ethernet

AntMiner L3+ ~504MH/s @ 1.6W/MH ASIC Litecoin Miner (504MH)

4. AntMiner D3 15GH/s X11 ASIC Dash Miner (Batch 3 – Early November 2017)

AntMiner D3 15GH/s X11 ASIC Dash Miner Bitcoin mining hardware

Specifications

A) Hash rate: 15 GH/s ±5%

B) Power consumption: 1200W. Power consumption also depends on your PSU’s efficiency.

C) Dimensions: 14″ x 5″ x 8″

D) Hashing algorithm: X11

E) Compatible Coins: DASH, ADZ, ARC, ATX, BOLI, BOPS, BSC, CANN, CNO, CNT, COXST, CREVA, CRM, DP, ENT, ERY, FAL, GILL, GRN, HCC, HPC, INFX, J-x11, KASH, KURT, LGBTQ, LKC, MAR, MARX, MMM, MND, MUE, OGN, ONX, OZC, PIZZA, PXI, SAND, SEV, SMC, START, TOR, TREAU, UIS-x11, VLTC, XCXT, XVP

AntMiner D3 15GH/s X11 ASIC Dash Miner (Batch 3 – Early November 2017)

 

Other posts

10 best bitcoin exchanges worldwide 2017

10 best places to buy Bitcoins online worldwide 2017

get free Bitcoins – 10 ways to make money with Bitcoin

harsh vasistha

Hey, welcome to the community of coinexpansion.com.
I am Harsh Vasistha, owner, and the author of this blog. I am 26 years of age and from New Delhi (India). I am an (IT) Engineer. I am not a techie, but my passion for learning new things and decoding those things in words is the main architect of this blog. Currently, I am offering my service to start ups as well as to an online news portal. I have given true emphases on the quality of content and will continuously enlighten you with more & more pragmatic content. You are welcome to join our ever growing community and become part of Coinexpansion family.

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