Jsbit-Blog-Is Antminer only for Bitcoin
What could Bitmain Antminer ASICs work for your life? Is Antminer only for Bitcoin?

What could Bitmain Antminer ASICs work for your life? Is Antminer only for Bitcoin?

What could Bitmain Antminer ASICs work for your life? Is Antminer only for Bitcoin?

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Image source (Antminer)

If you’re reading this article, you’re probably wondering what exactly Bitmain Antminers are. A Bitmain Antminer is a specialized hardware used in mining cryptocurrencies. Think of these specialized hardware as crypto generators and it becomes easy to see why they’ re in great demand today. Bitmain Antminers are widely regarded as some of the most powerful mining hardware in the world.

The first Antminer was created in 2013 by a Chinese company known as Bitmain. Founded by Micree Zhan and Jihan Wu, Bitmain had a simple vision of creating mining hardware that allowed its owners profit from mining.Today, Bitmain Antminers dominate the mining industry with around 70% of the brand’s hardware responsible for Bitcoin mining.

History of Bitmain Antminers

Prior to the emergence of Bitmain as a company, mining was considered a hobby as the creators of Bitcoin originally intended for the cryptocurrency to be mined using CPUs like your desktop or laptop. The CPUs were able to produce BTC at a rate of 50 per block, which translated to a decent profit amounting to few dollars daily.

Around 2010, miners discovered that GPUs offered more hashing rate than regular computers, so they made the switch. Another discovery saw miners move to ASICS (Application Specific Integrated Circuits) in 2012. While ASICs were a natural progression in the mining industry, there was a growing demand for powerful yet energy-efficient units.

Responding to the need in the industry, Bitmain made its entrance into the market in November 2013 with its premier product, the Antminer S1. Over the next couple of months, the Chinese company released newer models of Antminers to meet the diverse demands of miners. Among other things, Bitmain’s Antminers made it possible for the general public to mine on their own from the comfort of their home.

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What coins can Bitmain Antminers mine?

One of the common assumptions about Antminers is that they can be used to mine only Bitcoin. This is partly true as Antminers can mine Bitcoin but they are also capable of minining different coins. The type of cryptocurrency a Bitmain Antminer can mine depends on the model. Generally, Antminers can mine Bitcoin, Lite coin, ZEC and Ethereum.

How much power do Bitmain Antminers need?

Electricity consumption is a source of concern when it comes to mining as it’s a major factor that contributes to ROI. Antminers consume a lot of power even though the consumption rate has decreased significantly over the years. Every new model outperforms its predecessor in terms of power efficiency.

 

Wrap-up

Lower mining rewards and rising costs of chips have reduced the profitability of mining to some degree but miners generally agree that Bitmain Antminers are some of the most profitable mining hardware on the market today.

Bitmain Antminers can either be purchased from the company’s website or from online marketplaces like Amazon and eBay. You can also choose to purchase a brand new miner or a used unit from Jsbit miners machine wholesale suppliers (Contact us) and have it installed in your home.


Post time: Mar-22-2022