Bitmain E9 Price
Bitmain E9 Price: Is the Best ASIC Miner Worth It?
Bitmain Antminer E9 is a new ASIC miner from Bitmain. It has been designed by the Chinese company to mine cryptocurrencies with a power equivalent to 32 RTX 3080 cards. The new miner has been designed as a response to the introduction of next-generation GPUs released by mainstream manufacturers.
From the look of things, Bitmain E9 seems to be a game-changer. But that’s just the tip of the iceberg. There are lots of things to talk about. Join us as we discuss the Bitmain E9 price, features, and possible profits. Before we dive into the topic, let’s start by answering a couple of basic questions, for example…
Is Crypto Mining Still Profitable?
Before we start talking about the Bitmain E9 price and explaining why it’s an investment worth your time and money, we need to talk about crypto mining as a whole.
The currency mining craze of the last few years has since cooled down significantly. The currency Bitcoin, in particular, lost more than 80% of its value since December 2017. It was around that time that people realized that Bitcoin mining is no longer profitable for average users. The electricity costs were too high compared to the amount of bitcoin being mined.
However, the difficulty of mining bitcoins has also risen significantly since December 2017. Consequently, it has become 31% more profitable to mine Ethereum compared to Bitcoin, which is a significant advantage for mining ETH. In fact, Ethereum mining can be so profitable that you will get your money back within six months.
In 2020, when the pandemic started, mining certain cryptocurrencies has become profitable. Governments of countries that have been hit by the pandemic have been utilizing cryptocurrency mining operations as a way to keep earning money despite the economic sanctions imposed by other countries. To date, more than 11% of all households in China had been employed in cryptocurrency mining.
Yes, you can still earn a lot of mining crypto. Considering that you can potentially earn 6-figures, the Bitmain E9 price doesn’t seem so unreasonable. The question now is, what cryptocurrency should you go with? For most people, that question comes down to Bitcoin and Ethereum.
Bitcoin vs. Ethereum Mining?
The price of Bitcoin might’ve skyrocketed in the past few months. However, Bitcoin mining is still unprofitable for the average user. Therefore, it will probably remain out of range for most people in 2021. The situation with Ethereum might change that by making mining 32% more profitable than Bitcoin.
Therefore, I think that at least Bitcoin mining isn’t profitable. It is new coins that are being mined, but this isn’t enough to provide enough money to run miners for free or even get them paid. Mining Bitcoins alone will only bring you about $100 of profit per month.
This makes it unprofitable for most people. Maybe if you can generate more than $200 of Bitcoins per month you will start making a profit, and maybe in the future when the ROI is bigger we might see more people mine Bitcoins.
Bitcoin mining is not as profitable as Ethereum mining. Bitcoin demands more money because the coins are mined faster. That’s why most people jump from BTC to ETH or SC. There is a lot of competition, but the returns are much better. The currency cap of BTC is 21 million coins, while ETH has a currency cap of 120 million coins. ETH’s coins are mined much slower than Bitcoin, so there is less competition.
Since mining Bitcoin requires more computing power, it also requires more investment. Since the Bitmain E9 price is much lower than expected, you can start seeing returns on your investment in less than t3 months.
The Bitcoin difficulty is increasing exponentially, which means that the miners have to spend more money on ASICs just to keep up with the difficulty rate. This makes Bitcoin mining unprofitable for everyone who purchases an ASIC miner made for Bitcoin.
How Does Ethereum Mining Work?
Ethereum mining is a technique in which Ethereum coins are distributed to miners by doing the advanced mathematical process. Ethereum uses the memory-hard EtHash hashing algorithm, which is intended to make the ‘ETH’ mining more robust against ASICs.
Smart mining is an Ethereum feature that allows miners to choose which crypto algorithm they would like to use. Mining difficulty has risen exponentially since the introduction of GPUs in 2013 – making small-scale home mining impractical without large amounts of capital.
GPU mining was all the rage until ASICs hit the market, rendering GPU mining moot for most people. In the past, many ASIC machines simply cost too much, but with the Bitmain E9 price being so low, many people are now able to enter the market without going bankrupt in the process.
What do You Need to Start Ethereum Mining?
With all of this talk about how easy it is to start ETH mining, you’re probably wondering, what do you need to actually start doing it. Surpassingly, the list isn’t that long. In fact, you can start mining by taking these three steps:
· Step 1 – Get a Wallet
You will need a wallet to store your ETH Coin. You can use an online service like myetherwallet.com or any other client-side wallet for which you have a private key. Make sure you back up your wallet.
Step 2 – Get a Miner
There are several available mining software and hardware options, but as mentioned before, you should go with an ASIC rig. The brand-new Antminer Bitmain E9 can give you the power of nearly three-dozen GPUs. Plus, with Bitmain E9 price being less than $20,000, you can pay it off before the year is over, and start making money.
· Step 3 – Join an Ethereum Mining Pool
You might not be able to do it alone, but mining pools are the way to go. If you have a small mining set-up, or just want to use an ASIC for mining, this is your best bet. Simply select a pool – there are many to choose from with varying fees and payment structures – and register using their signup information page.
Why Should You Pick the Bitmain E9?
Bitmain has been known as a reputable manufacturer of crypto mining hardware since 2013. They’ve released several lines of great products and everyone is expecting more to come. The most recent addition to their product lineup is the E9 miner.
The Bitmain E9 miner is not only an excellent performer, but it’s also efficient and profitable due to its high hash rate. However, it can be confusing for newcomers why they should choose this model over others, so let’s highlight some of the reasons why you should buy the E9 over other miners.
· Reason #1: It’s a Bitmain Product
This is an obvious one, but it should be mentioned that you should only choose the best of the best from this manufacturer because they have been around for a very long time and they’re trusted by professionals for being reliable.
· Reason #2: It Has a Great Price vs. Performance Ratio
Typically, mining hardware is sold at around twice the price of its power consumption with some even making your electricity costs higher than that! However, when you compare the Bitmain E9 price with the amount of electricity it spends, you see that it’s a great investment.
· Reason #3: It’s More Profitable than its Predecessors
With all the new miners coming out these days, you’d think that they would be more efficient than their predecessors, but that’s not always the case. The Bitmain E9 is more profitable than its predecessors, the S9, DR3, and other models from this manufacturer.
· Reason #4: It’s More Efficient than Other Products
The reason why the E9 is so efficient compared to other miners is that it has a lower power consumption at just around 2,556 watts. This means that you will spend less on electricity and be more profitable.
· Reason #5: It Doesn’t Produce Much Noise
The amount of noise the E9 produces is only 50 decibels, which is quieter than its predecessors and other similar models. You will not have to worry about annoying your neighbors with overwhelming noise so you can sleep better at night.
What is the Bitmain E9 Price?
There’s been a ton of talk about the Bitmain E9 price. Early estimations, based on the features and technical abilities, were between $20,000 and $30,000. While nothing changed about the tech specs, the price of Bitmain E9 turned out to be a lot lower. At the moment, you can buy the Bitmain Antminer E9 for $17,000.
ETH Mining Made Easy
So as you can see, the Bitmain E9 is a great piece of mining hardware that you should consider purchasing. Just look at the Bitmain E9 price. Priced at just $17,000, this miner should be your top choice to build a profitable crypto farm, but these five articles points should convince you to choose it over all others. If you’re going to invest in a miner, make sure you do your research and buy the best.