There was a period ( 2009-2010 ) when you only needed to have special software installed on your computer to mine cryptocurrency. As a result, most of the miners who started out during this period made millions.
Unfortunately, today in 2020, the mining industry has huge competition numbering in the thousands of cryptocurrency miners around the world.
In this article, we will look at the secrets of success and maximizing earnings shared by Sluh Pool, being one of the founders of this industry. This pool shares important factors to consider for all miners, including beginners, and shows ways to maximize profits.
Electricity costs The profitability of bitcoin mining depends directly on the price of electricity.
By practical means and simple calculations, we have identified the average price at which mining in 2020 will be profitable for us: about $0.05 per kWh. Sometimes large centralized facilities achieve a price for $0.01 kWh as well. You can benefit from mining if you can afford to pay no more than $-.06 per kWh.
What equipment to choose
How efficient is a mining device? Can be determined by the number of calculations that are used per Joule consumed.
Favor, the innovations of 2020 make it possible to successfully mine bitcoin. As of 2013, ASIC miners have surpassed PCs and GHUs.
So, the most efficient ASIC devices at the moment are:
Innosilicon T3+ – 42J/TH Antminer S17 – 40J/TH Whatsminer M30 – 38J/TH
The most efficient miner in the history of cryptocurrency mining is Antminer S19, its indicator is 98 J/TN.
Of course it is possible to use less efficient equipment, provided the price of electricity is low as compensation. However, more modern models allow to ensure the profitability of bitcoin mining in 2020 and with higher electricity prices.
Increased performance, thanks to auto-tuning
In 2020, it is possible to increase the performance of ASIC hardware through software autotuning, which in turn provides a high hash rate per watt. This has become possible after modernizing the standard chip options.
Auto-tuning is especially useful for owners of miners with outdated hardware, such as Antminer S9. Thus, the correct settings on Braiins OS give a chance to increase the hash rate of S9 by 20-30%.
More often than not, auto-tuning comes at no upfront cost because the percentages are deducted from the overall hashrate. There is no reason not to use this software as the commissions will be covered with it.
Immersion cooling
ASIC devices generate a significant amount of heat and need constant cooling to maintain efficiency.
Immersion cooling solves this problem. It involves immersing the miners in a container that is filled with dielectric material.
This eliminates the cost of air conditioning.
Also, this solution will result in lower noise levels of the devices.
The importance of strategic thinking
By mining bitcoin – we contribute to the dispersal of bitcoins. In addition, miners manage to mine “Pure Bitcoins” which can be sold at a high price.
Good luck finding new blocks!
Feedback (0)
Leave a review