We’ve just gone through the most recent Bitcoin halving this year.
Efficiency has halved, which increases the necessity for new technologies.
It has also raised hash difficulty, making crypto mining more challenging.
One thing for sure is, that today’s “best” miners have nothing to do with what used to be the best two years ago.
In fact, the same devices that made your money back then are no longer profitable.
Often when people review ASICs, they wonder how long they will last.
Do all of them work three years on average?
Unless your model is far advanced in the market, it doesn’t matter.
After such a “long” time, the difficulty would have increased again, making it unprofitable.
Because of this dilemma, many have wondered whether Bitcoin mining is worth the costs.
People are taking off, and fewer miners remain on the network making big money.
Is it possible? Yes and no.
It’s not if you plan a €2,000 investment to make your passive income forever.
It is if you work with the best ASIC on the market.
Anything less than exceptional could result in a waste of time and money.
What’s the Best ASIC for Bitcoin Mining?
Before you go and buy the last Bitmain model, let us tell you that the best can mean different things.
What model has sold the most?
Which one is the cheapest ASIC with an optimal price-quality ratio?
What’s the most reliable and requires little to no maintenance?
What’s the absolute best device in performance?
Thinking in absolutes can lead to wrong expectations.
For example, many would buy the latest Antminer T17.
But in BTC mining, the proof-of-work system involves competition, so whenever everyone has the same technology, it’s no longer an advantage but a minimum requirement.
What’s popular may not be the best!
Are there limited quantities of the newest ASIC chip?
Is there a better-performing model, even if for a lower price?
We don’t doubt you may have heard of many ASICs we will mention in our list.
Although Bitmain dominates the current market, you can still find decent versions from brands such as Canaan and MicroBT.
When you look for low prices and high performance, Bitmain Antminers isn’t even a choice.
The question is, which one should you buy among the dozens of models?
Unless you follow the latest releases, you will find half of the store out of stock most of the time.
What does it take to be the best?
Here’s our perspective on what makes an ASIC exceptional:
- Its processing power is high enough to remain useful for years. The current ideal point is between 80Th/s and 110Th/s.
- Electricity consumption would be acceptable under 2.5Kw/h and perfect under 2Kw/h. For smaller versions, aim between 1Kw/h and 1.5Kw/h.
- It should offer a yearly return of investment of 100% or more (after you cover the initial cost in year one). With a daily profit of €7-€10, it would ideally earn €250 per month and around €3000 per year.
- A smaller model should cost around €1500, while the biggest ones should aim at between €2500 and €3500.
Mind that the lack of inventory could move the price a lot higher.
You may also find that the newest models that are a bit better cost far more.
You may then wait until they depreciate to that range to avoid unnecessary price inflation.
Of course, the perfect device doesn’t exist.
We will be reviewing the ones that approach the closest to this description.
It’s quite easy to find a model that does at least one of these well, but finding an ASIC that meets all requirements is a challenge.
Finally, the perfect model should have solutions for the most common problems ASICs have:
If you live in an urban area, they may not allow you to use this hardware because of the noise.
You should either keep these in some facility, move, or buy a silent ASIC(not cheap).
When ordering several devices, you need a fan or cooling system to keep them working.
Otherwise, they may last less than three years or decrease efficiency.
We don’t know how the difficulty will keep increasing, if Bitcoin will continue to rise, or if a new model will appear.
But the best way to mine Bitcoin is to adapt your tech.
Whenever you make a profit, remember that you likely need to save a couple of thousand for buying the next model soon.
You wouldn’t win a BTC block even with the most powerful ASIC in the world.
If you don’t believe me, watch this video to see who your competitors are.
You can’t beat competitors, only cooperate with them(mining pools).
Best ASIC to mine Bitcoin
After we introduce the best-performing models, we will share other versions which are also the best in their own way.
Let’s start with the giant first.
Antminer S19 Pro
Remember when 1Th/s ASICs were a thing?
Well, they can no longer compete against a version that’s over a hundred times more powerful.
The Antminer S19 Pro was just released in May 2020 and sold out within the first weeks.
Although some miners wouldn’t pay €3350 for this model, remember that far worse models sold at similar rates a few years ago.
The S19 Pro(3.25Kw/h) only makes us wonder: what will they release next year?
Is this the best we can expect, or should we wait for a future model?
Since 90% of stores are out of stock already, you may have no choice but to wait for the next Bitmain update.
Did you think S19 pro would be the best?
What if we told you your efficiency would increase by buying two S17s instead?
For €1995(close to half of the S19 pro), it can handle 73Th/s(consumption of 2.8Kw/h).
That’s €27 per tera-hash, a proportion you may not find anywhere else.
That’s why Antminer S17 has been the top choice for most hardware enterprises, which have hundreds of these working as you read this review.
If you couldn’t find the S17 in stock, you’ll love the Whatsminer m30s, because it’s almost the equivalent to the Antminer.
Instead of €1995 for 73Th/s, you’ll pay €2200 for 90Th/s, an unbeatable deal.
The downside is, that it consumes more than the latest S19(3600W).
Before you get excited about its low price, ask yourself whether it makes sense for the electricity cost.
If you live in China, it’s your best bet.
We expect that the company improves energy efficiency in the next few years.
Best quality for the lowest price
Those were the absolute best we could find.
But what if you don’t have €2000-3500 to buy the best version?
You can still profit from BTC mining if you purchase economic models.
Some low-cost ASICs perform so well that you could buy multiple of them and rival the S19Pro, for example.
Here are our top three:
Antminer S17 Pro
Not to be confused with the S17, the Antminer S17 Pro offers an optimal price for a slight power reduction.
For €1,450.00, it handles over 56Th/s, which is acceptable for a 2020 ASIC.
That’s €26 per tera-hash.
What’s best about smaller models is that their size allows them to save more energy.
The S17 Pro should consume less than 2212W.
Most models last three years, but given this one’s efficiency, you could keep it for longer.
Instead, you can request Bitmain for a repair and keep working.
Imagine if you had three of them: €4,350.00 for 165-170Th/s.
Like the M20S, Whatsminer usually offers a better entry price for its ASICs, even though the consumption may not be that low.
For 3.3kW/h, you can get about 68Th/s of power for €1,450.00.
Another advantage: Whatsminer M20S supports other less known coins aside from Bitcoin: Bitcoin Cash, Joule Coin, eMark, or PeerCoin.
Honorable mentions for the lowest price
Most people expect to spend over a thousand to get a decent ASIC.
But did you know that you could get one for less than €100?
You can technically still make profits, but these don’t raise as much attention because of the low ROI.
Most will discard the Antminer S5, even though it makes 1.2 Th/s, consumers 650W, and costs under €250.
It could make sense if you plan to earn with Bitcoin’s valuation, but mining is unprofitable because of the halving.
A better version, the Antminer S9k, produces 13.5Th/s and consumes around 1200W.
We’ve found it on Bitmain for as little as $63.
Could it be the ideal ASIC for beginners?
Profitability in Bitcoin mining is closely related to the ASIC you purchase.
Some go with the most powerful, while others choose to bundle smaller models.
If you want to find other unconventional versions, we’d also like to mention the BitFury Clarke, the Innosilicon T2T-29TH/s, and Canaan Avalon 1066(50Th/s).
One doesn’t need to spend thousands to get the best quality, as we’ve seen with the Antminer S9K.
You only need to act fast and buy the latest Antminer before it’s out of stock, and the demand rises its price.