What are bitcoin ASIC miners?

Bitcoin ASIC miners are actually designed to calculate the SHA-256 hash algorithm. In the case of Litecoin, it uses Scrypt. That means technically they could mine any other coin that’s based on the same algorithm, though typically, people who buy ASIC hardware designed for Bitcoin mine that specific digital currency.

Is bitcoin mining profitable?

› Bitcoin Mining Machines & ASICs (Hardware) Bitcoin mining as a hobby can be fun and even profitable if you have cheap electricity and get the best and most efficient Bitcoin mining hardware. Bitcoin mining is competitive.

How to choose the best bitcoin miner?

Cheap mining hardware will mine less bitcoins, which is why efficiency and electricity usage are important. The fastest and more efficient mining hardware is going to cost more. Don’t try to buy a miner based on only price or only hash rate. The best ASIC miner is the most efficient bitcoin miner.

How is bitcoin mined?

Nowadays all serious Bitcoin mining is performed on dedicated Bitcoin mining hardware ASICs, usually in thermally-regulated data-centers with low-cost electricity. Sign up for our newsletter and get access to Bitbo. Bitbo lets you view real-time Bitcoin price action, stats, and key economic indicators - all for free.