Application-specific integrated circuit mining, more known in its abbreviated form, is partly self-explanatory in its nature — it is designed to mine certain types of cryptocurrencies. Unlike GPU mining, which is general-purpose, you will require different kinds of ASIC firmware to validate blocks of Bitcoin and Ethereum. They will be valid for varietals that are based on proof-of-work operations.
How Does ASIC Mining Work?
In a nutshell, the main task of any mining equipment is to complete advanced algorithms, proceeding with mathematical calculations, in order to generate and validate a block. More competitive than GPUs and outdated CPUs, these machines require a well-thought-out approach for selecting:
- what type of mining you would like to be engaged in;
- rig location since ASICs are usually more cumbersome and louder than analogous tools;
- power consumption;
- expenditures for other technologies like a mining pool (for instance, Hive OS can function either on a month-fee basis or a certain percentage from the use).
- return on investment.
With the help of ASIC mining profitability calculators, enthusiasts will be able to analyze what project scope they are ready to maintain in terms of available budget and time resources.
Is ASIC Mining Worth It?
Taking into account that you will require individual ASIC mining rigs, the cost is a highly fluctuating aspect. When considering the right machine for your needs, it is recommended to pay attention to terahash per dollar rather than its full price. To become really profitable, this method requires a significant initial investment. The exorbitant price of this technology is on purpose. The financial aspect and time costs are deliberately increased in order to screen out potentially adverse operators and maintain the blockchain’s integrity.
Anyway, ASIC mining is still worth it largely to its performance and efficiency. Interested parties have to get acquainted with the basics of this method to make their mining experiences more successful.
Advantages and Disadvantages
Apart from the lack of versatility (ASIC mining equipment is mono-focused, suitable for mining one coin type), this method is beneficial from several other perspectives — from increased densities, higher performances, and more favorable deployment requirements. The right choice of custom firmware for ASIC will obviously make the difference, letting interested parties realize the method’s advantages to the greatest possible extent. Hiveon ASIC firmware is a stunning sample in this case:
- Customers can manage their farms smoothly and with extra control via Hive OS (which comes for free here).
- This ASIC mining machine selects the optimal voltage for operation, which results in decreasing the electricity bills without reducing the achieved hashing power. What’s more, the latter can be easily increased by thirty percent.
- Compliant with the latest cybersecurity frontier technologies, it also allows avoiding lagging behind even if the internet connection drops.
All in all, it may be not as simple as desired to start ASIC mining. In reality, it is currently one of the most beneficial solutions in the market, so becoming a fluent user is a worthy task.