Are you joining the ASIC miners while cryptocurrencies are on the rise? But do not know how to do it and whether it is worth dealing with it at all? So, mining with ASIC in 2022. How does it work?
ASIC is a device that specializes in mining cryptocurrencies thousands of times faster than regular computers.
The emergence of ASICs on the market happened because of rising energy costs and the steady increase in the complexity of cryptocurrency mining. These conditions once "inspired" the developers of mining equipment to create specialized mining ASIC chips that solve many tasks but have relatively low power consumption.
ASICs can only mine cryptocurrencies that use the algorithm they were designed for. You will have to choose the one that suits the algorithm of your device. That is why when selecting an ASIC, you should, first of all, choose a coin. Decide what cryptocurrency you want to mine and, based on this, choose the appropriate model. This article shows which ASICs are suitable for mining the most popular and expensive coins.
ASICs are very complex devices and are difficult to create on your own. If you prefer to build your mining rig yourself, consider GPU mining.
ASIC mining rigs are multi-million dollar investments typically comprising hundreds or thousands of ASICs. Do you have a desire to build an ASIC mining farm? Then let us guide you through the essential things to keep in mind:
Ensure a good exchange of indoor air with outdoor air for low ambient temperatures. This way, the ASICs will stay cool.
Moreover, all the users of Hive OS can enjoy the benefits of a heatmap that will resemble the temperature of all your workers. If any of them reaches the critical temperature, the system will mark the worker with red color right away.
Additionally, the autofan feature in Hive OS will automatically control the fan speed once you set up the target temperature. Thus, your workers will maintain this temperature.
And last but not least, if you use Hiveon ASIC firmware, you can benefit from a temperature watchdog that checks the temperature of chips and printed circuit boards. The watchdog automatically reboots the device or stops the mining process to prevent damage if the critical temperature is reached.
Typically, ASICs are much noisier than GPU mining rigs. Take this into account when making your purchase!
Some ASICs produce less noise than others or almost no noise at all. If your budget allows, we recommend paying your attention to Bitmain Hydro S9 as it is claimed to be noiseless.
ASIC miners usually last from 2 to 5 years. After that time, there are typically newer, more efficient ASICs on the market, which makes the profitability of mining on older devices drop significantly.
It would be best to consider not only a machine's raw hashing power. Depending on the profitability of some ASIC models, they may be taken offline; the profitability itself varies with Bitcoin's price and difficulty. When the price levels grow, it usually causes older ASIC models to be brought back to the market. If cheap price levels drop or there is a considerable increase in mining difficulty, the effect will be the opposite.