Cryptocurrency Mining Hardware in 2019 - Updated

ASIC Mining (Too Good To Be True?)

This is my first Reddit post (I've heard great things about the community from friends, so decided to give it a shot)
I've recently started messing around with mining Litecoins with my GPU (GTX 780) since I don't pay for electricity in my apartment and just wanted to get a sense of what mining is. I've also researched different asic miners and found a site that shows a cost-benefit analysis among different hardware on the market. (http://minr.info/) I understand that the revenues you make from mining can fluctuate based on the spot rates of bitcoin (without taking anything else into account) So, let's assume the exchange rate to USD will stay constant for a month starting from today. Why wouldn't someone want to invest in a $6,000 unit that can supposedly return $1,000 a day in revenues? Can someone please help me better understand the detailed and bigger picture of mining before I decide to purchase one of these units. (I'm also aware that a lot of them are backordered and the premiums are high to buy one on the secondary market.) Thanks!
submitted by traderjo3 to BitcoinMining [link] [comments]

At what price will Bitcoin fail to function? My estimate: ~$100.

I'll begin with my conclusions:
If the Bitcoin network consisted solely of 'Titanium ASIC' miners, the most powerful and energy efficient mining machine I know of, then the price point at which electricity costs begins to exceed rewards is $71/BTC (based on yesterday's network figures; more on that later). More realistically though, most miners aren't running highly efficient Titanium ASICs, hence I estimate ~$100/BTC as the turning point.
I say 'fail to function' in my title, because who will continue to mine at a pure loss? It would be irrational - the rational action would be turn off the machine until the value of the rewards increases. Note: This is not the same as sunk costs in buying hardware - because in that case even if you never get back how much you paid, you're still making something.
Perhaps, you might counter, Bitcoin enthusiasts will continue to mine at a loss. Well consider this: To sustain just 1% of the current network hash rate, you would require 559 Titanium ASICs costing over one million dollars in yearly electricity cost (at $0.10/kWh) - and that's a best case scenario.
Let's assume that's the case - you have Bitcoin Enthusiasts contributing the equivalent of 559 Titanium ASICs hashing power for free out of their pocket. That's a 99% drop in hash rate. The time to a difficulty retarget is 2016 blocks, or at 10minutes/block that's 2 weeks. But if the hash rate were to drop by 99% within that two week period, then the block time would balloon out to 16.66 hours - making the block retarget ETA up to 3.8 years!
If transactions took 16.66 hours just to get a single confirmation (if they had first priority), then how would use of Bitcoin remain practically feasible? Would people still have confidence in the system and the developers for allowing this to happen? How difficult or costly would it be to launch a 51% attack?
Now, on to the calculations, and a few less optimistic alternate scenarios:
Network hash rate at time of calculation: 335,365,290.09 GH/s
335,365,290.09 GH/s / 6000GH/s = 55894.215 'Titanium ASIC' miners
55894.215 x $5.28 daily electricity cost (At $0.10/kWh) = $295121.4552/day in electricity costs
= $1776.87709485/block (avg. time of 8.67 minutes)
$1776.87709485 / 25BTC block reward = $71.04/BTC = break even point.
The above does not account for pool fees or transaction fee revenue or more importantly variance in kWh rates ($0.10/kWh is nonetheless pretty low worldwide), and hardware cost is irrelevant to this calculation.
Without doing all the math again, here's some other popular mining machines for comparison:
$113.07 (SP35 Yukon)
$193.84 (CoinTerra TerraMiner IV)
$385.89 (Antminer S1)
I've also just seen the 'Antminer S4' mentioned in /Bitcoin, so just for comparison a Titanium ASIC is almost twice as energy efficient as an Antiminer S4 (2200W vs. 4200W for 6TH/s) - it's less efficient than the SP35 Yukon.
If I've made any miscalculations here or have left anything important out, feel free to correct me.
submitted by Josh_Garza to Buttcoin [link] [comments]

I bought 8 290Xs. What now?

I ponded whether or not to mine bitcoin, then the ASICs were announced. Luckily, I didn't preorder Butterfly Labs, but that whole scenario made me a skeptic. I pondered whether or not to buy a Bitcoin ASIC (the first month the terraminer was on Preorder), and I let that slip by. I pondered whether or not to mine Litecoin, and that slip by. I'm still very skeptical about Litecoin ASIC shipping times so in the meantime, I decided I will buy one when they are available to ship, not for preorder. Till then, I decided to force myself into purchasing high performing cards and mining. I think about things WAY too much and often end up convincing myself not to do them. There's no going back, I'm tired of looking into the water and trying to see if it's warm or not— debating whether I should dip my feet in. I've jumped in 8 graphics cards deep. I've been looking at building guides for months, but after mark-ups and outdated builds, I'm reaching out to see what builds would be good for mining with these 8 cards. Any links or advice would be very much appreciated.
SIDE NOTE: I have two GTX 690s I purchased for my incredibly powerful, yet amazingly irritating hackintosh, which I am now incredible frustrated and eventually will be turning in for a Mac Pro. I've been getting about 1150 KH/s with the two cards running CudaMiner on OS X or 530~560KHs Vert— Do you think it's worth it to keep the cards in my new build? Or sell them on eBay?
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=291126412466
TL;DR
part 1: Bought 2 XFX/6 Sapphire 290Xs for $2400, $300 each, and I would like to know what is the most efficient, cheapest mining rig to build around it. I have looked at many guides (not the software quite yet), I am open to using Linux as I hear that is the best and would preferably like to be able to control the units remotely.
part 2: I also have access to two GTX 690s hashing at 1150kh/s scrypt, 530~560KHs scrypt-N— is it worth running these if I have access to free electricity? Or should I sell them on ebay?
submitted by litereddit to litecoinmining [link] [comments]

Buying an ASIC, cheap power

Good day all,
If I have access to (very) cheap solar power, and have the funds, does it make sense to to buy an ASIC? If so which one is recommended? the https://cointerra.com/product/terraminer-iv-1-6-ths-bitcoin-mine looks nice but I'm not sure what's best.
Thanks,
submitted by fcpk to BitcoinBeginners [link] [comments]

[Build Help] Can I repurpose Bitcoin miner parts for PC build

Apparently my giant paperweight of a bitcoin miner (cointerra terraminer iv) has some valuable parts in it. It has two of these power supplies:
http://www.mouser.com/ProductDetail/Bel-Power-Solutions/PFE1100-12-054NA/?qs=He7j%252b7NElcPW2NXHzvQBUg%3D%3D
Can I use this for my PC build?
Also, it has liquid cooling made by CoolIT, can I use those? There are two units, each with what I think is a radiator, and two chip interfaces which currently attach to the ASICs. Thanks for any help
submitted by operskaas to buildapc [link] [comments]

For Sale: TerraMiner IV – 2TH/s, Networked ASIC on cryptothrift

For Sale: TerraMiner IV – 2TH/s, Networked ASIC on cryptothrift for cryptocoins
Tags: **
cryptothrift is a Bitcoin, Litecoin and altcoin marketplace and auction site with automated escrow.
submitted by cryptothrift to cryptothrift [link] [comments]

For Sale: CoinTerra TerraMiner IV WaterCooled Bitcoin Miner IN HAND on cryptothrift

For Sale: CoinTerra TerraMiner IV WaterCooled Bitcoin Miner IN HAND on cryptothrift for cryptocoins
Tags: #asic, BITCOIN, Cointerra, Miner, terraminer, Th/s, water-cooled
cryptothrift is a Bitcoin, Litecoin and altcoin marketplace and auction site with automated escrow.
submitted by cryptothrift to cryptothrift [link] [comments]

For Sale: 2TH 1 year lease (TerraMiner IV – 2TH/s, Networked ASIC) on cryptothrift

For Sale: 2TH 1 year lease (TerraMiner IV – 2TH/s, Networked ASIC) on cryptothrift for cryptocoins
Tags: **
cryptothrift is a Bitcoin, Litecoin and altcoin marketplace and auction site with automated escrow.
submitted by cryptothrift to cryptothrift [link] [comments]

Bitcoin Mining on the Cheap? USB Block Erupter ASIC Miner Review TerraMiner IV by CoinTerra Unboxing Video (Bitcoin ASIC Miner) WORLD FASTEST - BITCOIN ASIC - TERRAMINER IV - COINTERRA ... Cointerra TerraMiner IV Power Consumption Plugnmine ASIC Litecoin Miner review

/PRNewswire/ -- CoinTerra™ www.cointerra.com – das führende Unternehmen bei Leistung und der neue Value Leader bei Bitcoin ASIC Mining-Lösungen – gab heute die... As the density of ASIC miners keeps reaching new levels, there is one unit that is leading the pack.  The Cointerra Terraminer IV comes in at 2000watt (2kW) usage hashing at speeds between 1.3 and 1.8TH/s.  The difference in performance is directly related to cooling, as the internal tempe... CoinTerra™ designs and produces best-in-class Bitcoin mining ASIC processors and systems. Our state-of-the-art design methodologies and advanced architectures enable us to deliver Bitcoin mining solutions with the highest performance ASICs for the lowest power and die area. We are proud to lead the retail bitcoin mining market with our new GoldStrike™ I ASIC and our 2TH/s TerraMiner™ IV ... CoinTerra cuts price of TerraMiner IV bitcoin mining rig CoinTerra has just announced its official launch and, with this, is cutting the price of its TerraMiner IV product from $15,750 to $13,999. Furthermore, Bitcoin ASIC technology keeps getting faster, more efficient and more productive so it keeps pushing the limits of what makes the best Bitcoin mining hardware. Some models of Bitcoin miners include Antminer S5, Antminer U3, ASICMiner BE Tube, ASICMiner BE Prisma, Avalon 2, Avalon 3, BTC Garden AM-V1 616 GH/s, VMC PLATINUM 6 MODULE, and USB miners .

[index] [8677] [1668] [48185] [41527] [25883] [3964] [2165] [18156] [34693] [17181]

Bitcoin Mining on the Cheap? USB Block Erupter ASIC Miner Review

WORLD FASTEST - BITCOIN ASIC - TERRAMINER IV - COINTERRA 2TH/s - UNWRAP WITH FULL TUTORIAL - Duration: 8:32. Vaz Avakyan 188,605 views. 8:32. How to BitCoin mine using fast ASIC mining hardware ... Here is the third video as promised showing the actual power usage on dual meters. We ran it for 24 hours on the meters before shooting the video. This is a TerraMiner IV from CoinTerra. It is a ... Things you need to set it up: Ethernet Cord 20A outlet or 2 x 10A outlet http://www.advanced-ip-scanner.com/ http://bitminter.com Username: Admin Password: L... WORLD FASTEST - BITCOIN ASIC - TERRAMINER IV - COINTERRA 2TH/s - UNWRAP WITH FULL TUTORIAL - Duration: ... How to Bitcoin: ASIC Block Erupter - Duration: 10:22. Brian Klug 72,320 views. 10:22 ... New Generation Bircoin Asic Miners Asic bitcoin mining hardware 600 gh/s 1 th/s 2 th/s Asic miners Review butterflylabs The Monarch BPU CoinTerra TerraMiner II and IV reviews asic.

#