What is an ASIC miner?
ASIC miners are a piece of equipment or computing systems that are built for mining cryptocurrency only. ASIC stands for Application-specific integrated circuit. Each device is designed and made to mine a new specific coin and particular algorithm. That means, a Bitcoin ASIC miner can only mine BTC, a Litecoin ASIC miner only interfaces with the LTC blockchain etc. Several coins that use the same algorithm can all be mined by using a single ASIC miner.
In other words, each cryptocurrency has its own cryptographic hash algorithm and ASIC miners are made to mine while using that specific algorithm. So Bitcoin ASIC miners are actually designed to calculate the SHA-256 hash algorithm. In the case of Litecoin, it uses Scrypt.
Is it worth it?
ASIC mining seems to be the preferred method for the mining of cryptocurrencies because of its speed and efficiency in running complicated calculations to solve mathematical puzzles and finding a specific number. Owning an ASIC miner gives you a great chance of earning cryptocurrency. And the faster your hardware, the more coins you can earn.
When it comes to mining cryptocurrencies with an ASIC miner, it is very important that the cryptocurrency you mine is worth more than what you spend on hardware and electricity. Those amounts can be closer than you might think because mining cryptocurrency can be expensive. So try to do the calculation beforehand, just to be sure it is worth it for you.
Why ASIC miners?
When choosing your mining hardware, getting a more efficient system is very important. Other hardware options could be graphic card or CPU mining systems. Those depend on components designed to perform more than just one task. ASIC miners in comparison are made to perform the calculations required by a specific cryptographic hash algorithm used by an individual. Because of this single focus, they’re way more efficient, powerful (while offering a high hash rate) and energy-efficient. They use far less power than a mining rig for the same task. This combination of performance and low-power usage makes them incredibly more economical to run than more general-purpose hardware. So you should definitely consider purchasing an ASIC miner. If you need more inspiration and information, check out the website cryptosupply.de.