Bitcoin Mining Hardware Summary. Nowadays, the only way to participate in Bitcoin mining is through dedicated miners known as ASIC miners. An ASIC miner, or Application-specific integrated circuit, is a good option for Bitcoin mining hardware in When mining for Bitcoin, Ethereum, Litecoin or another altcoin, is it better to buy ASIC or set up a GPU mining rig? Both GPUs and ASICs are. Energy consumption is also high. ASIC-enabled mining equipment is capable of outperforming other equipment in terms of speed and efficiency in finding blocks. ASICs will cost a significant amount in electric bills, read more keep in mind that they are typically more affordable to run than GPUs. The Spondoolies SP20 was a great mining device in its day. Pools list Article. The work done to solve these difficult math problems is also known as Proof of Work PoW. Fortunately, due to the newly born rivalry between Bitmain and Halong Mining, the price will probably lower with time and competition. An Integrated Circuit is what we commonly call a microchip. Once connected you will connect an ethernet cable to the miner itself. Buy Bitcoin Worldwide, nor any of its owners, employees or agents, are licensed broker-dealers, investment advisors, or hold any relevant distinction or title with respect to investing. Here is why. They have the best miner available. Bitcoin mining has gotten so high powered with the race to be the winner to solve a block that it has evolved into pooled mining where a group of miners want to have as much hash power as possible to get a share of the Bitcoin block reward. The Answer lies in how commited you want to be to mining bitcoinand how much faith you have in this crypto currency.