Nowadays though as the amount of people mining has increased the difficulty of Bitcoin mining has also increased too. This high difficulty and hash rate has mostly been fueled by the introduction of ASIC mining chips.

Bitcoin uses SHA cryptographic hash function to secure the blocks and create the hash for each block.

This encryption is what protects the transactions in the block from being altered. Several manufacturers produce their own ASIC chips and miners.

For this part of the Bitcoin mining guide we will use the current top miner on the market the Bitmain AntMiner S9.

Bitcoin mining has gotten so high powered with the race to be the winner to solve a block that it has evolved into pooled mining where a group of miners want to have as much hash power as possible to get a share of the Bitcoin block reward.

If you feel as though this guide helps you in some way or we left something important out, then please drop a comment below.

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We also participate in other affiliate programs which compensate us for referring traffic. Step 1: Connect Power Supply The first thing you will want to do is make sure the power supply and all connections coming to and from the power supply and miner are tight and secure.

Once your wallet is backed up and secure be sure to get a copy of your Bitcoin wallet address. Step 7: Sign Up at Mining Pool One of the first Bitcoin mining pools goes by the name of Slushpool and is a personal favorite of mine mostly due to its phone app monitoring features.

Slushpool Setup Guide Link Now you can select your pool server address but be sure to use one that is closest to your mining operations location.

Is Bitcoin Mining Profitable? Leave a Comment Cancel Reply Your email address will not be published. Type here.. Quick Links. Bitmain Antminer S17 Pro 50Th.

Bitmain Antminer S17 56Th. Goldshell HS3-SE. Bitmain Antminer S17 53Th. MicroBT Whatsminer D1. Innosilicon T3 43T. MicroBT Whatsminer M PandaMiner B5 Plus.

Bitmain Antminer T17e 53Th. Bitmain Antminer T17 40Th. Todek Toddminer C1. Innosilicon T3 39T. Ebang Ebit E Bitmain Antminer DR5 34Th. Baikal Giant A Bitmain Antminer B7 96Kh.

Bitmain Antminer S15 28Th. Baikal Quadruple Mini Miner. Innosilicon T3 50T. Bitmain Antminer T15 23Th. Baikal Miner Cube. Baikal Mini Miner. Bitmain Antminer X3 Kh.

Innosilicon A9 ZMaster. The price of the mining hardware is also essential. Do not forget most of the cheap mining hardware will rake in a few Bitcoins.

Expensive Bitcoin mining hardware is unique, fast and efficient. To make a fortune from the Bitcoin mining business, be ready to invest.

Aim for value and quality in your purchase. Once you have an idea of the factors to look for as mentioned above, the hunt for the best hardware for bitcoin mining begins.

To make it easy for you, we have already complied a list of the best miners. The Antminer S5 may not be the latest Bitcoin mining hardware other models like the S7 and S9, have come after it , but it is still in use, and its efficiency and function is exemplary.

With the low power needs and consumption, small power supply, similar to those running desktop computers can accommodate the Antminer S5.

Which translates to 0. As for the weight, the S5 weighs 2. Its reduced weight is courtesy of its lightweight material and the fact that it is open from top to bottom.

The setup is not rocket science and requires no prior tech experience. All these features make it the best antminer in the current market.

The Bitmain Antminer S7 was introduced to the market in It has since become one of the most popular Bitcoin hardware miners and dominates the market courtesy of its low power consumption compared to the S5.

The power supply unit recommended for use the S7 is the watt APW3. This power supply unit is by far one of the best available in the market.

It is precisely designed for Bitcoin mining. The miner can run even the most potent mining hardware — the Antminer S9. It, however, requires a minimum of Volts to operate.

The efficiency of the S7 depends on the effectiveness of the power supply used and the ambient temperature. But, at room temperature of about 25 degrees Celsius, the S7 produces about watts.

At this point, you should note that every generation of the Antminer is near twice as efficient when compared to its predecessor. It weighs 7.

Since the unit is noisy, it is not ideal to have it inside a home. Additionally, it is imperative to ensure you put it in a cool environment to ensure that you spend less energy trying to cool it as it mines.

The Bitmain Antminer S9 is currently the best Bitcoin mining hardware available on the market. This high hash rate has been made possible courtesy of 3 circuit boards featuring a total of chips.

For all that the S9 has to offer, you should expect to pay a pretty penny for it. The Antminer S9 can be used with the Antminer Watt power supply efficiently.

Speaking of efficiency, the S9 is notably the most efficient mining hardware available. Short for Application-specific integrated circuit, the underlying ASIC chip is typically designed with a singular purpose, like audio processing or managing a cellphone call.

In a nutshell, mining is running complicated calculations in the search for a specific number. In proof of work systems like Bitcoin, the first one to find that number gets a reward — at the time of writing, That reward will fall to 6.

There are so many people and powerful computing systems trying to mine Bitcoin that miner groups form to find that number and share the profit.

Even more, the faster your hardware, the more you earn.