After Bitcoin, the second most valuable crypto to mine is Ethereum. If you are interested in switching to mining Ethereum, you probably wonder, can Antminer mine Ethereum? It is well known that Antminers are the best products you can buy for mining cryptocurrencies, so let’s find out if there are Antiminers designed for mining ETH.
Can Antminer mine Ethereum? The answer is yes. Bitmain Antminer E3 and Antminer E9 can be used for mining Ethereum. The Antminer E9 is specially designed for mining Ethereum, and it is currently the most powerful ASIC mining device for ETH.
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However, Antminer E9 is not released yet, and the price is expected to be pretty high. But there are other options you can use for mining ETH, so keep reading and find out more.
So we briefly explained what Antiminer is – a product made by Bitmain company used for ASIC mining. ASIC (or Application Specific Integrated Circuits) is a machine or chip made for mining cryptocurrencies. ASIC miningis a process of mining cryptocurrencies using ASIC rigs, while ASIC miner is a device or computer specially designed for crypto mining.
Bitmain company produces ASIC miners called Antminers, and the primary purpose of these machines is to mine Bitcoins. However, the company made a couple of products for mining Ethereum as well.
Probably the most profitable way to mine any crypto is by using ASIC mining. And for a long time, the Ethereum blockchain was resistant to ASIC mining, but manufacturers have found a way around this problem. Ethereum, just like Bitcoin, uses a consensus protocol to operate, known as Proof of Work. In order to mine one ETH, miners must solve algorithms known as the Ethash algorithm. The Antminer E9 has a hash rate of 3GH/s, but it draws significant power at 2,556W. However, if the cost of mining is $0.12 per kWh, this means you could make around $400 dollars a day by mining with Antminer E9. The price is estimated to be somewhere between $15,000 and $30,000, and it has been announced it will be released in June 2022.
The older version of ASIC miner made by Bitmain company is called Antminer E3. You can mint ETH with this miner but also other cryptocurrencies based on an Ethash/Dagger algorithm or Hash algorithm. With E3 having a Hashrate of 190 MH/s at 800W, with these characteristics, E3 can pull out around $4 a day of ETH profit. The price is around $2,000, but you can probably find cheaper versions on sale.
As you can see, there is currently only one Antminer available on the market for mining ETH. Still, Bitmain company has announced the release of a new miner in June 2022, and which one you will purchase can make a huge difference in your earnings later on. The first one will cost you more, but you will be able to make more money, while the second older version is cheaper but also makes less profit. Let’s see what both Antimers have to offer:
|Antminer E3||Antminer E9|
|Profit||$4 per day||$400|
|Price range||$200 to $2,000||$15,000 to $30,000|
What Asics Can Mine Ethereum? There Are Other Options to Explorer When It Comes to Mining ETH
As we mentioned before, there are several other ASICS miners you can purchase for mining ETH that are not made by Bitmain company. Some options are better than the others, while some options are cheaper and maybe better for beginners. Here are some of the most popular and most reputable ASIC miners for ETH you can find:
- InnoSilicon A10 Pro – This ASIC miner costs around $15,000, it has a memory of 8GB, a Hashrate of 1500 MH/s, and a power consumption of 2350W. With this, you can make around $50 per day.
- Innosilicon A10 Pro – an ASIC miner that costs around $8,000 with a Hashrate of 720MH/s and power consumption of 1350W. With this, you can earn around $20 per day.
- Whatsminer M3OS++ – This ASIC miner costs around $5,000, and it has a hashrate of 112 Thash/s and power consumption of 3472W.
Aside from ASIC mining of ETH, there are five more ways you can mine ETH – CPU, GPU, Cloud, Solo, and Pool mining. You can use one option or a combination of all if you like. CPU mining is probably one of the most inefficient ways to mint ETH. With this option, the miner uses a central processing unit for mining. It is a slow and the most unprofitable method. GPU is the most popular and cheapest method, where miners use several graphics processing units to mint ETH.
Cloud mining is probably the best way to mint ETH. Here, miners pay some companies to rent their mining equipment. Solo mining is when people decide to mine with their own equipment, meaning they will need to have at least ten mining rigs to maintain a profitable presence on the network.
Pool mining is where a couple of crypto miners join their resources into one pool and decide to mine together. That increases their probability of finding a block and earning profit.
Choosing the proper method will depend on your current financial situation. If you have time and money, investing in ASIC mining will most likely bring profit since ETH has announced a shift to Proof Of Stake. Still, the question remains whether that will destroy the mining of ETH or not.