Mining of cryptocurrencies has developed significantly since the early years of Bitcoin. At the time, everybody had a regular computer capable of mining coins. With the development of the industry, the process of mining became more challenging. Nowadays, even powerful GPUs cannot match regular computers or even high-end ones. This is where ASIC miners enter the picture.ASIC is an abbreviation for Application-Specific Integrated Circuit, and these devices are designed just for one purpose – mining digital currencies. Their speed is higher, they utilize the energy more efficiently, and their mining capacities are much greater than other mining hardware of any kind. Because of this, ASIC miners have become the most popular choice for beginners and large-scale mining farms.ASIC miners are increasingly in demand as the number of people who consider mining as a source of income or a way to increase their crypto holdings is on the rise. Nevertheless, this situation also poses an important question: Is it better to buy a new ASIC miner or a used one? New machines provide the most up-to-date technology but are more expensive. Those that are pre-owned are less costly but come with such hazards as lowered performance and shorter lifespans.This blog will explain the pros, cons, and key things to know before buying. By the end, you’ll know which option suits your mining goals.

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.

Transcript

Related