As the cryptocurrency game continues to evolve and the industry continues to rise in market value across the globe, aspiring crypto traders and investors looking to diversify their portfolio and generate high financial returns are increasingly investing in crypto mining technology. Of course, you can’t mine cryptocurrencies without adequate mining hardware, whether you’re running your own crypto miners or if you’re paying for hosted mining, so there is a need to compare the best options on the market, and find the hardware that fits your needs and can help you achieve your goals.
After all, no mining rig requires a small financial investment, as the modern ASIC devices are true gems of computing innovation, and can set you back a pretty penny. Nevertheless, you can only achieve your crypto dreams with the right type of mining hardware, so let’s take a look at some of the most popular options and help you make the best cost-effective decision.
The AntMiner S5 for novice crypto miners
If you’re looking to get into the crypto mining game but don’t want to make a sizable financial investment, you might want to consider some of the older, tried-and-tested hardware options such as the AntMiner S5. This used to be the flagship for cryptocurrency mining back in the day, and it still does a pretty good job even with the current needs of the market. This model is preferred by novice solo investors who want to run a home-based operation, for example, and mine cryptocurrencies as a side hobby.
The AntMiner S5 offers good performance, and is a cost-effective option, with its average draw of 560W and a stock speed of 1,155Th/s. This makes it a good choice for investors looking for the best power efficiency and savings, and you can even find used models in excellent condition for as low as 400 US dollars.
Read More: Facebook announces Libra Cryptocurrency: All you need to know
AvalonMiner 741 – another affordable option
When you’re looking to invest in crypto mining hardware, you need to analyze the device’s ability to generate a profit that will counter its energy consumption. Choose the wrong one, and you’ll end up losing money. This is why you need to monitor the cryptocurrency trends closely to assess volatility and rises and drops in value, so that you can find the hardware that will allow you to break even at the very least, and ensure a cost-effective method of solving bitcoin blocks.
With that in mind, another affordable yet effective option depending on your current needs and budget might be the AvalonMiner 741. Also known as the Avalon A7, this reliable crypto miner draws 1150W on average, and has a maximum hash rate of 7.3Th/s. You can also find this piece of hardware for a low price if you’re buying a used unit (as low as 200 US dollars), but new pieces will set you back around $800 US.
Enterprise-level power with the AntMiner S17+
On the other end of the spectrum, we have the truly earth-shaking innovations the likes of the AntMiner S17+ that offers enterprise-level computing power, and requires a sizable financial investment for the long-term rewards it offers. This piece of hardware is a powerful bitcoin mining rig that will outperform most contestants in the modern market, but most importantly, it’s a profitable rig that will guarantee a positive ROI under current market conditions.
The AntMiner S17+ is a hefty machine though, and will consume as much as 2920W of power, while maxing out at a hash rate of 73TH/s, making one of the most powerful options on the market and putting it many steps ahead of the aforementioned models. That said, keep in mind that this hardware will set you back as much as $3,000 US.
Energy-demanding but reliable – the Pangolin Miner M3X
If you’re still looking for a reliable option for home use or as a solo venture in general, then perhaps the Pangolin Miner M3X is for you. Now, this piece of hardware consumes a lot of power, as much as two kilowatts, so why would you even consider buying it? The reason it enjoys significant popularity with experienced investors is because of its relatively high hash rate of 13 TH/s. Another appealing feature is that you can find the Pangolin Miner M3X for as low as $300 US.
Dragonmint T1 as a reliable and popular option
Our final contestant is the Dragonmint T1, another very popular option among experienced investors, and a sound option for everyone looking to enter the crypto mining industry. Its power consumption is lower than the Pangolin Miner M3X, while it’s hash rate can top out at 16TH/s, making it one of the most effective miners on the market today for personal use. That said, its biggest setback is, of course, the price, as it may not be worth the investment because of its inflated $2,700 US price tag. That said, the Dragonmint T1 is one of the models that can deliver a positive ROI in the current bitcoin market.
Wrapping up
The world of cryptocurrency is constantly changing and the trends are rising and falling rather frequently, making it all the more important for aspiring crypto investors to find the right mining rig that will produce a positive ROI. Consider these options while you’re researching the industry in order to find the best piece of hardware for your current needs.