Posted by Know the best hardware for crypto mining, as well as the problems of shortage of them in the face of growing demand.
Digital mining was one of the most profitable and secure businesses during 2020. The crisis caused by the COVID-19 pandemic negatively impacted all sectors of the economy, except for digital coin mining. Learn about the best crypto mining hardware for 2021.
To mine crypto coins in a profitable way next year, it is necessary to be equipped with the best machines. But there is a big problem and that is that the expansion of the business in the world, has caused that the demand exceeds the offer, creating a scarcity gap of machines and graphic cards.
Big players like Marathon, Riot Blockchain or Core Scientific, are monopolizing the lots of the main ASIC manufacturers. On the other hand, second-hand equipment is rising rapidly in the middle of the shortage and the increase in price of Bitcoin.
The most powerful crypto mining hardware
Considering the high price of Bitcoin, there are a lot of very profitable crypto mining hardware options. In fact, many of the ASICs that were considered obsolete after May’s Halving came back to life again. The most peculiar case is the emblematic S9 of Bitmain.
This variety of equipment, added to the high price of Bitcoin Era, allows the lack of new models, not to feel so strong. At the same time, there is a third company (Canaan) that brought to the market a very competitive machine that could be a good option.
Thus, the best machines for 2021, are the series S19 of Bitmain, the M30S of MicroBT and the Avalon Miner 1246 of Canaan Creative. The first two can reach and even exceed 100 TH/s. As for the third one, it works with a little less computing power (about 90 TH/s maximum), however, its price is cheaper than its rivals.
The problem with this equipment, as already mentioned, is the lack of access by the miners. In this regard, Nathaniel Justin Yu, an official of Bitmain, confirmed to news portals that there is a great demand for the S19 series. In addition, he said that all the machines that will produce until July 2021 have been sold.
A similar situation occurs with the crypto mining hardware manufactured by MicroBT. These are among the main demands of the large companies that are dedicated to mining, such as the North American companies mentioned above.
History repeats itself with graphics cards
The situation related to the shortage of equipment, is repeated for the miners of other cryptosystems. GPU cards are needed for mining a number of coins with different algorithms than the Sha-256 used to mine Bitcoin. These include Ethereum Classic, Monero, Zcash, Bitcoin Gold, Raven Coin, and many others.
Access to the cards of the main manufacturers of these cards, Nvidia and AMD, is extremely difficult. Of course, the new series are quickly monopolized by the more powerful miners or merchants who resell them at much higher prices.
For example, the most used cards for the mining of these crypto currencies, are the GeForce RTX 2080 from NVIDIA and the Radeon RX580 from AMD. These, being the most used, have a higher price due to a stagnant supply and an increasing demand.
But there are other newer models from both manufacturers. It is feared that these crypto mining hardware will not be available to everyone, even in the medium term.
A promising 2021 for business
As you can see, the constant turns of the economy during the year 2020, guaranteed a good development of the digital mining business. The year 2021 will start with a much higher interest, while the price of Bitcoin and other currencies becomes an even greater driver.
It is also important to highlight that the miners are already at a much higher stage of maturity than in previous times. Now, they’re not afraid of price corrections and tend to be more thrifty, which guarantees a high price, especially for Bitcoin.
Data to take into consideration
- By 2021 the best ASICs for crypto mining will not be available for sale until July.
- Similar situation occurs with GPU cards. In this market, the supply is largely overwhelmed by demand.
- The second hand market is flourishing, but with increasing prices.
- The year 2021 is shaping up to be a very competitive year among miners. This rivalry is accentuated by the extension of Bitcoin’s bull run.