I am new in mining i am willing to buy asic miner any idea which one to buy.
And how long it will last by keeping it running?
And is it profitable?
Thanks
You will have to spend some time doing research…
I would take a peak at your electricity rate. Assuming you are residential and doing this from your home. Your rate can range from 8 cents to 20 cents per kw/h
You can grab your latest bill and look for the breakdown to see what your avg kw/h rate is. More math and research will give you a better more accurate number if you need it.
Once you have your electrical costs. You can look for asic miner stats such as www.asicminervalue.com
Use the search box on the right to narrow down the algo you want to mine (BTC=sha-256)
From there is some more math to see what your electric rate would cost you to run it minus profits, pool fees, etc.
Other sites help such as https://whattomine.com/
You can use this by taking the projected hash rate of the device you are looking at and see what your projected return would be…
But that all depends on you get your hands on an asic miner. The newest ones are the most profitable but also cost the most, plus shipping and tariffs, and hard to get a hold of.
Older ones may be found on third party sites like ebay or miner bros etc. but then you are buying third party and never know what you will get until you plug it in (same can be said from buy manufacturer too).
So this all goes by doing your own math…
Me personally:
I bought my first Antminer S9 from Bitmain and paid $850ish
When BTC crashed to the $3000 range, people turned off their Antminers and sold them on ebay cheep. I bought 1x13.5 version and 1x14 version for $300/$350 and mined them through the dip
Then my electricity rate went up, halving was coming, difficulty was climbing and the wife gave me a look when that new electric bill came with the new rate and I sold all three on ebay that weekend…
I sold the original for a loss, and the other two off ebay for a profit so probably a hardware cost wash.
It was fun, and mining in the dip has provided nice gains with BTC over 11k but when my electricity rate went up, the math told me to buy for investment not mine for hobby.
I switched to HDD mining for a hobby instead.