ASIC Mining Profitability

Application-specific integrated circuit (ASIC) mining equipment is quite popular in the cryptocurrency mining industry, and for good reasons. ASIC miners are generally profitable, but miners may return negative net revenue under certain circumstances, such as high energy costs. If you intend to mine using ASIC miners, you must create a mining plan. How do you do this?

Planning Your Mining Strategy

Like every other business, crypto mining requires a well-planned process. For example, you’ll have to consider the profitability, your investment, and the challenges you can overcome. The most critical parameters to determine ASIC mining profitability are:

• Hash rate
• Energy consumption
• Cost of mining machine
• Computing power

Since your goal is to make profits, you should consider these parameters while planning a mining strategy. It would help if you also considered these:

• What coins should you mine? ASIC miners are more suited to mine bitcoin, litecoin, and bitcoin cash, among other cryptocurrencies. Certain ASIC-resistant coins cannot be mined using ASIC miners. Examples are Ethereum, Monero, Ravencoin, etc.
• What would it cost to mine them? The average cost of mining each coin unit is vital to your plan. Bitcoin, for example, costs between a few thousand dollars and dozens of thousands to mine. That figure varies according to country and mining energy source, so it is vital to know the mining cost of your country.
• What is the revenue generated at the end of each mining session?
• How long until you break even and start making profits?

Calculating Mining Cost

You can use several tools, such as Coinwarz and CryptoCompare, for calculating crypto mining profitability. But they all follow a general formula: (Miner hashrate ÷ Network hashrate) × (Number of blocks per day × block reward). Once you can determine the mining revenue, it is a simple matter to calculate the miners’ cost, electricity, cooling devices, and other costs.

The cost of a coin is also vital to your mining plan. The average mining cost per coin relates to the average amount it takes to mine each coin. If the average mining cost is greater than the revenue, you’ll need to adjust your strategy.

Although ASIC miners are among the most efficient and profitable miners today, you need to know the most profitable ASIC miners 2022 to use.

Most Profitable Crypto Miners

The following ASIC miners are some of the most profitable crypto miners today.

*These figures were obtained from Asicminervalue using the current U.S. energy rate of $0.12 KW/h. The revenue figures are dynamic and are impacted by several factors.

Knowing the most profitable ASIC miners to use is an excellent step in drafting a crypto mining plan. Now, you have to consider the best way to go about mining. You can choose to set up a physical mining rig (sometimes called on-premise mining) or subscribe to a hosted mining service. Perhaps, you want to look at the key differences between on-premise and hosted mining.

Choosing Between the Most Profitable Antminer Vs. Crypto Mining Hosting Minery

The increasing complexity of crypto mining necessitates the installation of many ASIC miners to hit consistent profits. This increases the cost and physical requirements (space, cooling equipment, and different computers) for mining. It might be difficult for you to mine cryptocurrency by yourself and make profits quickly for these reasons. The practical answer to this problem is hosted mining.

Hosting-based crypto mining is a mining method in which people rent mining equipment owned by a firm. The firm stores the processes, software, database, and other computing services. Minery is a crypto mining firm that deploys hosting-based mining. With Minery hosted mining service, you can create the perfect mining plan to use the most profitable antminer without the physical and financial costs.

Minery Hosting-Based Crypto Mining

Minery offers a hosting-based crypto-mining service. Hosting-based crypto mining is popular because, in the end, it generates more revenue and profit for crypto miners. How does our Minery hosting-based mining work?

• We have thousands of ASIC miners to increase mining revenue. Our data centers are powered by hydroelectricity, a cheap and environmentally-friendly source of electricity that is carbon-neutral.
• Our data centers have on-premise servers that oversee the mining processes. On-premise servers allow Minery to offer a hosting-based mining service to clients.
• Clients can make profits from their mining investments without physical work. Minery deploys the software and equipment and takes care of the mining process for clients.

To provide a way for clients to earn from crypto mining, Minery offers seven key benefits:

Benefits of Minery Hosted Mining

• Renewable energy: Today, crypto mining faces a lot of backlash from the government and environmental activists. And rightly so. Most PoW mining pools use non-renewable energy sources, such as coal, harmful to our precious earth. But Minery rose to that challenge. We use renewable hydroelectricity to power our facilities. We value our environment and take its conservation seriously.
• Low electricity costs: Our data centers are based in Siberia, where electricity is cheap; this helps us offer you the best mining service at the most affordable rates. Our hosted mining service is the most affordable in the industry.
• Optimal climate: Siberia is one of the coldest places in the world. Since ASIC miners produce a lot of heat, a significant amount of energy is used to power air coolers. But Siberia’s low temperature reduces the need for air coolers and therefore lowers energy consumption.
• Standard service and tools: Minery’s data centers use the latest mining software to oversee the mining process. Clients are assured of industry best practices in mining and customer management. Clients have access to dedicated customer care channels for quick response.
• In-house service team: Our in-house engineers are always on hand to prevent and attend to unavoidable challenges immediately.
• Transparency: Clients can access their dashboards’ real-time ASIC performance, billing, and payments. Minery’s transparency principle aims to build trust and confidence in clients.
• Future cloud mining service: Minery will adopt cloud mining in the future. Our cloud mining service will increase the ease of mining crypto for anyone, anywhere.
• Miner’s insurance program: Because mining equipment can fail if run at total capacity for an extended period, home miners may be at a loss when it happens. But with Minery, clients get paid even when their mining equipment loses efficiency. Miners can also sell their equipment to recoup the initial value.

These benefits allow Minery to offer clients a seamless way to earn returns on their crypt mining investments.

Does More Profits from Crypto Mining Sound Good? Minery is the Solution for You

You can make revenue from ASIC miners. However, it is easier and more rewarding to mine crypto with Minery’s crypto mining hosting. ASIC mining profitability can be maximized by adopting Minery’s hosting-based mining plan. You can grow your financial portfolio by adopting Minery’s mining services.

Crypto mining remains a great way to make income in the cryptocurrency industry. With Minery, you can position yourself to make profits without stress.