Antminer E9 vs GPU
Bitmain Antminer E9 vs GPU Mining
For almost two years, the world has faced a graphics card shortage. While the PC gaming industry has been the loudest to complain, arguably, the crypto mining market has suffered the biggest losses due to the shortage.
Due to inflated GPU prices, thousands of miners all over the world were prevented from updating their rigs. That way, they lost on hundreds of thousands, if not millions, in potential earnings. Are ASIC miners the solution to this problem?
We’re going to look at the most powerful Ethereum miner available, Bitmain Antminer E9, and see how will it impact GPU mining as a whole.
What Caused the GPU Shortage
Before start discussing the Bitmain Antminer E9 and its impact on the industry, we need to talk about the start of the GPU shortage. In order to mine cryptocurrencies, you need processing power. A lot of it. The easiest way to achieve it is through high-powered graphics cards. The same ones are used for gaming.
At the end of 2020, the price of cryptocurrencies skyrocketed. That lead to a steep increase in graphic cards demand. Since the manufacturers couldn’t meet the demand, the secondary market bloomed, and the prices shot up.
The result of the hardware shortage was an unprecedented crisis. Both miners and gamers couldn’t find GPUs for retail prices. The resellers were pricing already-expensive NVIDIA and AMD graphics cards at 3X to 5X their original price.
How the GPU Market Responded
To end the great graphics card shortage of 2020 and help crypto miners, NVIDIA launched their first crypto-specific card series. The RTX line was popular among miners right from the start. However, this didn’t solve anything.
Despite the popularity of RTX 3080 and 3090, the cards were manufactured in extremely small numbers, which made them pretty unattainable. Another problem was the reselling market and the increased usage of automated bots, which can buy a product as soon as it gets uploaded to retail websites.
On the surface, it seemed like the resellers won. However, a solution to the entire situation came from seemingly nowhere.
ASIC Mining vs. GPU Mining
The solution for this problem came from ASIC miners. These machines are specialized in crypto mining and they can provide a lot of power to miners. As a matter of fact, they can provide much more power than the average GPU.
For many miners, ASIC was the solution they were looking for because the only purpose of these machines is to allow crypto enthusiasts to mine efficiently. There was, and never will be for that matter, any interest in them from gamers. However, Ethereum miners weren’t so lucky, because ASIC mining solutions were mainly used by Bitcoin miners.
ASIC miners have been around for a long time. But not after long did manufacturers start making Ethereum ASIC miners. One of the biggest companies on the market, Bitmain has recently unveiled the most powerful ASIS miner. All of that finally brings us to our topic of the day: the Bitmain Antminer E9 and will it make GPU mining obsolete.
Bitmain Antminer E9 Equals 32 GPUs
Bitmain, as a company has been around for a long time. Their brand is well-known in the crypto world, and their name stands for quality and innovation. That’s why it’s no wonder that they’ve manufactured a machine that mines Ethereum with a power of 32 RTX 3080 graphics cards.
The new model in the Antminer series has a power of 3 GH/s. If you don’t know, that’s the measuring unit for cryptocurrency mining. The aforementioned RTX 3080, only has 12 MH/s, which means that you’d need almost three dozen cards to reproduce the power of one E9.
That’s not the only thing the Bitmain Antminer E9 brings to the table. Experienced miners are wondering, how much electricity does an Antminer E9 use? While the machine does need a lot of energy to function properly, compared to other, noticeably weaker miners, it consumes significantly less.
For instance, the average ASIC miner will give you the power of 2 GH/s to 2.5 GH/s while consuming more than 3,000 watts. The Antminer E9, on the other hand, will consume no more than 2,556 watts. This, of course, results in a significantly better return on investment.
Bitmain Antminer E9 Profitability
None of the things mentioned above would matter if the Bitmain Antminer E9 isn’t able to provide you with a hefty ROI.
So, is the Antminer E9 profitable? Yes, no question. According to certain calculations, you can earn between $200 and $250 a day with the E9. Needless to say, the profit depends on a number of factors, including the price of the electricity in your area.
The profit of $236 a day, for instance, can be achieved at the price of electricity in the US, which is hovering around $0.13 per kWh. In some European countries, like France and Spain, electricity is more expensive. In these places, you can expect a lower daily profit.
But keep in mind that is a really good profit. Bitcoin mining hasn’t been this profitable for quite some time.
The best thing about the Bitmain Antminer E9 is the price. At $17,000 it’s extremely cheap when you consider the possible returns. With that price, you can expect to pay off your machine in less than three months and start making serious money.
Is the End of GPU Mining?
No matter what mining method you prefer, you have to admit that the Bitmain Antminer E9 is impressive. The miner is sure to dominate the market in both 2021 and 2022. It’s probably going to go down in history as the first real ASIC Ethereum miner of the PoS era.
The biggest question now is, is this the end of GPU mining? Not quite. We can’t really expect everyone to switch to ASIC miners overnight. However, due to E9’s surprising price, low power usage, and high potential profitability, we can expect a lot of miners to jump on the hype train.