I’m starting to mine with ASICS as my goal has always been to mine bitcoin. I’ve been Gpu mining up to this point, and I’m fairly new to the ASIC mining scene. I’ve saved about 60k of earnings to buy ASICs. I know bitmain is the standard, and I could get 4 S19J Pro’s 110TH, but would it be better to get 6 Canaan Avalon 1246’s? It looks like profitability is about the same despite the significant hash advantage with Canaan.
Also these will be hosted as I unfortunately do not have the capacity to run ASICs in my house.
If I should go with different models or partners, let me know. I’m happy to learn about all of this.
I have no experience with either, but have been researching and saving my coins to do exactly what you are doing.
I would go with the bitmain units as they are going to have longer and better firmware options as well as better resale than a lesser name brand. Also keep in mind that you may have to pay a Tariff when you have them shipped in, so be prepared for a 25% tax if you are in the USA.
I’d order them direct from Bitmain as they have the spot drop going on still on their website.
Vosk dropped a vid yesterday saying to buy the S19’s if you can, and I’d add hodl some monies to buy the XP edition next year.
That’s my plan! I want to get up and running with these then HODL the earnings to get some XP’s in the summer to grow my mining. I was leaning bitmain since they seem like the best of the best. Just unsure if efficiency is better than raw hash rate. Profitability seems the same, but I can get more BTC in hand through the Avalon method. I guess efficiency is probably best for any down periods.
Efficiency is important because it ends up playing into cost. So unless you have a $5 a day unlimited electric plan (these exist just not near where I live). You care what the efficiency is.
While the Avalon 1246 returns more absolute BTC than the 1146 the 1146 actually reurns a higher ROI.
Note to my above: I am basing that ROI difference on prices offered through Mining Syndicate. YMMV
Hey there, I know this sounds a bit senseless, But first of all, i would find an official website that is 100% safe to buy from, The ones i would recommend are : (Bitmain.com , dxpool.io) and a few others, you can look around for more (Be very safe out there though). Then once you have got onto a good store, look for miners with high ROIs. for me i look for anywhere between 8 months and 14 months. Some good websites are NiceHash - Leading Cryptocurrency Platform for Mining and Trading. There are other sites too, such as asicminervalue.com. Now, i know i haven’t fully answered your question yet, ill get to that, but im helping you know how to do it on your own too. Now If you have limited space for mining, look for maximum 3 miners, but if you have a lot of space, dont go for more than 7 ( Because with electricity and all, its not worth getting hundreds of cheap miners which make the same profit as electricity costs in the whole, Now, to answer your question, I would buy 5 x Bitcoin miner S19 XP each worth around 12000 $. This will make your daily profit between 115 - 150$. which is around 4000$ monthly. the miners will be paid off after around 15 months, which is a decent amount of time, then youll be earning around 150$ a day doing nothing, and say the price of bitcoin goes up, you could potentially be making around 250$ a day. hope this helped and good luck!