Best Bitcoin Miners, Reviewed for 2024

Interested in mining bitcoin? Today, efficient and reliable specialised bitcoin mining hardware is necessary to mine bitcoin. In this review, you discover a list of bitcoin miners so that you can find the best bitcoin miner for you.

Evolution of Bitcoin Mining Hardware

Bitcoin mining refers to the use of your computing power to process transactions on the Bitcoin network for which you are rewarded in the form of new bitcoin. The process is competitive since the bitcoin reward is given to the miner who solves the mathematical computation first. Consequently, miners focus on machines that offer high computational power to contend with the ever-increasing mining difficulty to remain profitable.

Initially, miners relied on CPU mining through their PCs and laptops but the method became untenable due to the slow computational speeds. So, miners moved on to use GPUs (graphical processing units) in computer graphic cards since they produced more hashing power and consumed less energy.

By 2011, GPUs were overtaken by field-programmable gate array (FPGA) processors that are joined to PCs using a USB connection. An FPGA was better than its predecessors in terms of power consumption. Furthermore, these devices ushered the establishment of concentrated mining farms.

Currently, BTC miners use ASIC (Application-Specific Integrated Circuit) devices as they are the most efficient and powerful bitcoin miner hardware available today.

How to Choose a Bitcoin Miner

There are three main things to look out for when buying a bitcoin miner:

1. Hash rate: Hash rate represents the number of calculations that a miner can perform in a second. Therefore, the higher the hash rate the more chances you have to solve the complex algorithms and earn bitcoin.
2. Price: There is the common phrase “cheap is expensive”. This applies to bitcoin miners where cheap hardware will mine fewer bitcoin and prove unprofitable in the long run. If you want fast and efficient hardware you will have to invest more.
3. Energy consumption: It is important for you to check the electricity rating in watts and determine whether mining income covers your electricity costs. Obviously, the more powerful hardware you buy, the higher your energy expenses. However, there are some cost-efficient solutions out there.

Below you will find a list of the top five best bitcoin miners you can purchase today.

Top 5 Best Bitcoin Miners

The Dragonmint T16

Image by halongmining.com

The Dragonmint T16  is one of the most impressive mining rigs today. The Halong Mining ASIC miner was made available for shipment in March 2018. The mining hardware is efficient in terms of energy consumption and overall effectiveness.

Dragonmint T16 is user-friendly and comes with a comprehensible and easy to follow manual. The bitcoin miner utilises SHA–256 algorithm with a hash rate of 16 TH/s. It deploys a DM8575 GHS chip that consumes approximately 0.075 J/GH of electricity. In addition, it has an ethernet connection and dual fan.

Moreover, thanks to the implementation of the ASICBOOST algorithm in Dragonmint T16, the efficiency can be improved by 20 percent. Taking into account its power consumption level, hash rate, and price, the mining rig offers miners a higher chance of profitability compared to other hardware. While it is profitable in large-scale mining operations, it will also benefit individual miners.

Here is a summary of the main features:

• Hash rate: 16TH/s
• Weight: 19 pounds
• Power consumption: 1600W
• Efficiency: 0.075J/GH
• Price: $2,700

Bitmain Antminer S9

Image by Bitmain.com

The Bitcoin Antminer S9 is the latest version of the popular hardware solution. Widely regarded as one of the best bitcoin miners in 2017, the mining rig has an enormous hash rate of 14 TH/s, which is more than sufficient for efficient mining.

The ASIC machine needs 1350 W power supply, and you should use Antminer APW-12 1600 Watt if you want to achieve maximum energy efficiency. This makes it twice more efficient than its predecessor the S7 model. Also, you can increase your earning potential by joining a mining pool, and purchase multiple mining rigs. You stand to make up to $1,900 per chip.

Here is a summary of the main features:

• Hash rate: 13.5 TH/s
• Weight: 10.14 pounds
• Power consumption: 1350W
• Efficiency: 0.098J/GH
• Price: from $425

Bitmain Antminer S7

Image by Bitmain.com

The Bitmain Antminer S7 is one of the most popular bitcoin miners since it is easy to set up. In addition, the mining hardware is reasonably priced, powerful and efficient. Launched in 2015, the mining rig gained notoriety the following year with users claiming to experience an average of 4.7 to 4.9 TH/s hash rate.

However, with computations becoming more difficult, it is doubtful that running only one device alone will generate a profit. In order to maximise from your Antminer S7, you can either buy multiple units or optimise one. While the mining rig was originally priced at about $2,000 during its release the price has gone down to almost $200 at the time of writing this article.

While it is no longer in production, you can buy a used device on Amazon or eBay.

Here is a summary of the main features:

• Hash rate: 4.73 TH/s
• Weight: 7.5 pounds
• Power consumption: 1300 W
• Efficiency: 0.098 J/GH
• Price: from $99 (used model)

AvalonMiner 741

Image by Amazon.com

The AvalonMiner 741 is a bitcoin miner from Canaan company and has an overall efficiency of 0.16 J/GH, which is higher compared to other devices within its price range. Also, this bitcoin miner offers a variety of customisation options.

The mining hardware has a user-friendly interface that makes it easy to navigate for new users. The device is also easy to set up and use. To get started you have to download the firmware of the mining rig. Subsequently, the controller has to be plugged in and connected and the cables connected to the mining rig.

Avalon 741 has a set of LED lights that indicate hardware’s status whether it is inactive, active, overheating or even failing. The lights also show the status of your connection (the miner) to the controller.

The ASIC bitcoin miner provides a hash rate of 7.3 TH/s and consists of an innovative cooling system that allows 88 chips to function as a single unit, as well as support the mining running on 24/7.

Here is a summary of the main features:

• Hash rate: 7.3 TH/s
• Weight: 4.3 kg
• Power consumption: 1150W
• Efficiency: 0.16 J/GH
• Price: from $200 (used models)

Bitmain Antminer S9i

Image by Bitmain.com

The Bitmain Antminer S9i is presently considered the most popular bitcoin miner in the market. The mining hardware has eclipsed Antminer S9, which is currently sold out on Bitmain, as the largest ASIC model in the Antminer series.

Released in May 2018, the S9i is considered to be similar to the S9 model except for a few minor upgrades. The notable improvement between the two variants is improved energy efficiency for the S9i model.

Therefore, the Antminer S9i is widely regarded as a more efficient option with a rating of 0.094 W/GH. In addition, the hardware has an in-built web interface that allows for easy configuration of the device. This removes the necessity of downloading any mining software so as to set up the rig.

The S9i enables bitcoin mining, bitcoin cash, and other SHA256-based coins. You can buy the device together with the power source on the Bitmain website though this will likely increase the cost.

Here is a summary of the main features:

• Hash rate: 14 TH/s
• Weight: 10.3 pounds
• Power consumption: 1320W
• Efficiency: 0.094 W/GH
• Price: $385

Choosing the right bitcoin mining hardware for your mining operation can make the difference between being profitable and unprofitable. Moreover, it is also important to choose the right bitcoin mining software to ensure that your miners are running efficiently.

Any of the five bitcoin miners in the list should be a good choice for your mining farm, whether you are a small-scale at-home miner or a large mining company.

To learn more about Bitcoin, download the Bitcoin Beginner’s Handbook for free.