When selecting the right equipment, you need to reconsider the three main categories of Bitcoin mining hardware. Each of these groups is more powerful and achieving that the previous ones. You need to understand how Bitcoin works to select the proper tools and equipment. We are going to help you set up everything and help you decide which hardware is the best for you and which one will accommodate your needs when you are performing the mining process.
What is a hash rate?
This represents a number of calculations your hardware can perform every second. In the mining process, you are required to solve mathematical problems, and the hash rate is measured in megahashes, gigahashes, and terahashes per second. The higher your speed is, the more likely you will be able to solve problems and transaction blocks.
We all know that computer hardware isn’t energy friendly and especially if you are using an advanced equipment for Bitcoin mining. So, when you are choosing a device, you should be aware that power is measured in watts. Keep in mind that you don’t want to spend all your earned money on electricity to mine coins that are not worth it. You need to determine how many hashes you are getting for every watt consumed. To perform this, divide the hash number by the number of watts. Keep in mind your electricity bill at the end of every month and try to find the balance.
There are three main categories, and we will explore each of them.
CPU/GPU Bitcoin Mining
This is the least dominant category and represents your computer. In theory, you can use the computer that you have to mine Bitcoins, but, in reality, it will be too slow compared to powerful machines that are on the market. Of course, you could boost up your graphics, and it is designed for advanced mathematical polygons which are required in high – end video games. You can purchase ATI and Nvidia because they are the best on the market and they can cost hundreds of dollars.
FPGA Bitcoin Mining
The full name of FPGA is Field Programmable Gate Array, and that is an integrated circuit which needs to configurated after being built. The mining hardware manufacturers have an opportunity to purchase these chips in volumes and then prepare them for Bitcoin mining before they are put into equipment. Considering that they are customized for mining, they provide excellent performance and outstanding results. You can get 750 Megahashes per second, but keep in mind that this is the high – end.
ASIC Bitcoin Miners
ASIC is the most potent tool for Bitcoin mining, it has only one purpose, to mine coins at remarkable speed, with moderately low electricity consumption. In other words, this is a dream come true for every Bitcoin miners. It can produce rate between 5 and 500 Gigahashes per second, and some vendors are even offering ASIC devices which can reach 2 Terahashes per second.