How to choose the best ASIC miner for you?

It's not just about the speed of return on investment…

When choosing the right ASIC miner, we need to consider several basic factors. In this guide you will find everything you need to know before choosing an ASIC miner. You can find our latest tips in our monthly blog posts. The shortest return doesn't always mean the best choice for your investment. We've put together a list of facts you need to review before buying an ASIC.

Algorithm, available coins

• What algorithm does the miner use?
• What coins work are mined on that algorithm?
• Does the coin you chose to mine make sense to mine? Does it have a future or is it just another project that will fall into oblivion in a few years?
• Do you have multiple options or is there only one profitable coin on the algorithm?
• Can you mine multiple coins at once (merged mining)?

Manufacturer

• Is the miner from a reliable, large manufacturer such as Bitmain (Antminer), MicroBT (Whatsminer), or rather from a new, smaller manufacturer such as IceRiver, iBeLink, Goldshell?
• How long warranty does the manufacturer offer on the model?

Electricity consumption and price

• What is the consumption of the miner? Is it a small miner or a standard machine with an output of 3 kWh or more?
• Is there any firmware that can increase the power of the miner or reduce its consumption?
• What is your electricity cost? Can you make use of the electricity from the surplus from the PV plant?
• Isn't it worth to send the miner to a data center through our hosting services? (Details on hosting in the US for 0,09 USD/kWh in the Hosting tab)

Noise and surplus heat

• Can I take care of the miner myself? Can I find a place for it where I can run it in a cool environment so it doesn't overheat?
• Will my neighbor complain to me after two days because of the constant noise? Should I add a Silent box to the miner to soundproof it?
• Is there any way I can use the excess heat, use it for heating and reduce the cost of running the miner?
• Isn't it worth to send the miner to a data center through our hosting services?

Halving, difficulty

• Does the cryptocurrency I want to mine use a halving system (periodically reducing the reward per block mined)?

• • When is the next halving scheduled for?
  • What about difficulty? (=difficulty of mining) (new, more powerful miners = redistribution of rewards among more miners = lower profit)
  • Is it decreasing or increasing?
  • Is there a new miner that is much more powerful than previous models for a given algorithm? (Bitcoin mining is safer in this regard, where it doesn't happen that someone comes up with a new miner that is 3x more powerful than the previous model).

Return on Investment (ROI)

• You can calculate the actual ROI using the formula: miner price / (actual daily profit- daily electricity cost)
• However, in the long-term analysis, don't forget to also take into account:

• • Difficulty
  • Halving
  • The exchange rate of the cryptocurrency in question (this is not an exact prediction of the exchange rate, but rather whether you generally trust the cryptocurrency in question in the long term)
  • Possibly saved heating costs, if you decide to run your miner in your home

If you have any further questions, please feel free to contact us at info@coin-factory.cz.