The Death of GPU Mining

GPU mining has been there since crypto started. However, ASIC – Application-Specific Integrated Circuit – mining offers greater speed and efficiency than traditional mining. It enables various crypto miners unlock more value and increase their earnings.

However, when it comes to Ethereum mining, for a long time, GPU was the only option. Things, as of you might now have changed. Ethereum miners can now enjoy all of the benefits of ASIC mining. But does it pay off in the long run? That’s what we’re going to find out today.

Let’s see how ASIC miners like Bitmain Antminer E9 can help you maximize your profits.

GPU vs ASIC Mining

In simple terms, a GPU, or a Graphics Processing Unit is an electronic circuit that can render graphics, which are displayed on an electronic device. Even though the main purpose of a GPU is to boost video performance and gaming graphics, these cards are often used to solve complicated math problems that verify crypto transactions.

An ordinary GPU can be bought in an ordinary electronics store. However, crypto transactions require the computer to solve complex math equations. These can’t be solved by simple machines. They require more high-end cards that cost couple of hundreds, or sometimes, a couple of thousands of dollars.

On the other hand, an ASIC, or Application-Specific Integrated Circuit is a machine, specifically designed for crypto mining. Chips designed to run a Bitcoin mining station is an ASIC. Since they’re designed for one purpose, they’re a lot better at their job than all-purpose GPUs. They require a lot more power and they cost more.

Can You Mine Ethereum With ASIC?

In the past, you could only mine Ethereum with GPUs. However, this has changed in recent years. Back in 2018, the Chinese company Bitmain introduced to the world the first-ever Ethereum ASIC. Soon after, more companies followed suit. Nonetheless, their Bitmain Antminer E3 was a popular choice among Ethereum miners for a few years.

This year, the company has decided to update their popular line of Ethereum miners. They’ve released the Bitmain Antminer E9 that will help Ethereum mining to transition from the PoW (Proof of Work) period to the PoS (Proof of Stake) period. Ever since they announced it at start of the year, they said that this is going to be the fastest Ethereum miner on the market.

ASIC Mining with Bitmain Antminer E9

When the first announcement came, most people thought that the Antminer E9 would cost somewhere in the $30,000 vicinity. To the surprise of many, the machine turned out to be much more cost-effective. The price for a single unit is $17,000, not including shipping costs.

The company also revealed the tech  specs of the E9. It’s the first Ethereum miner that has the hash rate of 3 GH/s, which is a significant step forward. Just for comparison, the previous fastest miner available only had a hash rate of 2.5 – 2.6 GH/s.

The hash rate is what separates ASIC miners from GPUs. To achieve the same results, one would have to use 32 RTX 3080 graphics cards at the same time. Considering just how much these graphics cost on the secondary market, we are talking about saving a few dozen thousands of dollars.

Not only is the Bitmain Antminer E9 a much more cost-effective investment, but it’s also a lot cheaper to maintain. Yes, the E9 on its own consumes a lot of energy. According Bitmain, their machine requires 2,556 watts to work properly. However, to replicate the E9’s performance, one would need significantly more electrical power.

Simply put, 32 graphic cards working at the same time amount to one big electrical at the end of the month. Another huge convenience of using an ASIC rig is the space. Three dozen or so graphic cards take up a lot of space and require huge fans for cooling. The E9 can fit into a corner of your basement and you won’t even have to worry about additional cooler either.

Antminer E3 vs Antminer E9

Of course, the biggest reason why so many people are interested in the Antminer E9 is its power. When it comes to mining, hash rate is used to measure power. Simply put, hash rate is the speed of crypto mining. One measures it in units of hash per second. It shows you how many calculations per second can the mining machine perform.

The previous Ethereum mining model manufactured by Bitmain, Antminer E3 offered a hash rate of 190 MH/s. While that model was considered “cutting-edge” when released, nowadays it simply wouldn’t pay off to invest in it. According to estimations, the E3 would yield a rather modest sum of around $4.4 per day.

On the other hand, the E9 guarantees the user revenues close to $250 per day. Yes, that’s over $1500 a week in profits, even when you count in the energy consumption of $0.12 per kWh. Is there a miner on the market that could rival the power output of the Bitmain Antminer E9? At the moment, you simply can’t find one.

Maximize Your Revenue With Bitmain Antminer E9

In 2021, we can expect Bitmain’s new miner to dominate the complete Ethereum mining market. But that’s not the end. Once PoS becomes effective within the Ethereum network, we can expect the Bitmain Antminer E9 to become even more sought-after.

If you’re still wondering whether or not ASIC mining is the future, the answer is definitive, yes. Older generation miners will become obsolete as soon as PoS gets in-effect. Investing in a brand new ASIC miner like the E3 will ensure that your mining efforts get rewarded.