ECOS Guide on Best Mining Equipment in 2024

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Key Takeaways

Now is a great time to start mining — or buy new equipment to boost the efficiency of your efforts.

Miners differ considerably in their characteristics. People with any budget, goals and expertise should be able to find something that suits their strategy.

The Antminer series by Bitmain confidently remains the market leader.

We wrote this article to recommend the best mining equipment in 2024 to our audience. All the items on our list boast high efficiency in solving cryptographic puzzles. We’ll start with application specific integrated circuits for BTC because this asset keeps attracting the most attention worldwide. In the second part, we’ll switch to altcoin mining solutions.

Top Bitcoin Mining Hardware

After the next planned halving in 2024, the block reward of BTC will plummet – but the price of the asset is projected to spike. That’s why now seems to be an opportune moment to buy mining equipment for it. Here is the list of best ASICs for you to choose:

Antminer S21

It’s the most cutting-edge option on our list. Just like all the other Antminers that we’re about to mention, it was created by the renowned Bitmain brand, headquartered in China. This company is an undoubted global leader in its niche. It sets the bar high for all the other manufacturers in terms of performance, user-friendliness and reliability.

The S21 model is premium, brand-new and ready for the upcoming BTC halving. Its hashing power reaches 200 TH/s, while its electricity consumption remains amazingly affordable. A pair of high-speed fans ensures the optimal temperature. Consider this one if you’re planning to scale mining operations in 2024.

Antminer S19K Pro

We can recommend this machine in two variations: with a hash rate of 115 TH/s or 120 TH/s. Judging by its power, you may expect it to be costly – but, to consumers’ pleasant surprise, it’s rather affordable. Its setup is not too difficult and it should be able to deliver you nice profit.

Antminer S19 XP Hyd

This model stands out from the rest thanks to its mind-blowing hashrate of 255 TH/s. On the flip side, its energy efficiency leaves much to be desired. It makes sense to purchase this machine only to place it in a location with very cheap electricity costs. Otherwise, your bills might become prohibitive. The good news is that you shouldn’t worry too much about the noise. The “Hyd” element in the miner’s name means that it lacks fans and is equipped with a water cooling system instead that works quietly.

Antminer S19 XP

It’s an older, cheaper and less advanced version of the previous one. Its hashrate is almost twice as low. Unlike its Hyd counterpart, it doesn’t rely on water to cool down. Four fans that are embedded in it produce loud noise – so the larger the distance between this piece of equipment and your bedroom, the better. S19 XP consumes modest amounts of power, so you won’t go bankrupt because of your energy bills.

Avalon Made A1366

Now, let’s have a look at worthy alternatives for Antminers. This one belongs to the product range of the reputable Canaan company from China. This model is an upgraded version of the A10 bestseller. It performs at 130 TH/s, which is good but nothing out of the ordinary. Its energy consumption is reasonable and its noise level is unfortunately high. Its biggest merit is its intuitive interface that lets you fine-tune the miner with minimum effort.

WhatsMiner M50S

It’s the brainchild of MicroBT, one of the most ambitious Chinese manufacturers. It consumes a bit more power than average and its hashrate is 126 TH/s. This miner features only two fans – but the level of noise that they produce is comparable to competitors that have four or more fans. We included it in our list because its price is delightfully low, which is great for entry-level crypto enthusiasts.

WhatsMiner M56S

This MicroBt Whatsminer is the runner-up on our list in terms of hashrate – it reaches 212 TH/s. Such a powerhouse demands a lot of energy, so it might take you many months to break even. Make sure to make calculations for the long term before ordering it. As for the noise, it won’t disturb you too much because the water cooling system works quietly.

Best Mining Equipment for Altcoins

There are thousands of altcoins in circulation and some of them can bring you substantial profits. Let’s explore the selection of ASIC miners for altcoins that deserve your attention!

Antminer D9

Once again, we’ll start with the devices that Bitmain delivers. The maximum computing power of this one is 1770 GH/s, its four fans are noisy and its electricity consumption is modest. It’s one of the most recent additions to the market, which explains its well-below-average price, paired with high profitability. With D9, you’ll be able to mine cryptocurrencies that stick to the X11 algorithm.

Antminer K7

With its 63.5 TH/s, it’s the most powerful option in this part of our list. It requires reasonable amounts of power and grants an attractive expenses-to-profit ratio. K7 suits miners who are interested in the assets that operate on the Eaglesong algorithm. Its key drawback consists in the annoying noise that it generates with its two fans.

Antminer Z15

Even though it’s not brand-new, the Z15 boasts a low price and modest power consumption. It sticks to the Equihash algorithm and can work at up to 420 KSol/s. Its major shortcoming is typical of many other machines from our selection – its two fans are too loud.

Antminer L7

Despite being around for over two years, it still retains its status as one of the most profitable miners. Its efficiency is capped at 9.5 GH/s. It’s not the most economical option in terms of energy consumption, so it’s better to place it in a region where electricity is cheap. The price of the L7 itself isn’t low either. But it lets you mine LTC, DOGE and other coins that operate on the Scrypt algorithm – so the initial investment should be worth it.

iPollo V1

Unlike the previous solutions, this one was built by the Singapore-based iPollo company. Its V series includes a wide range of miners, including compact, budget-friendly and quiet ones for home use. The V1 is the strongman of the range. It can solve crypto puzzles at a rate of up to 3.6 GH/s, producing rather loud noise underway with its four fans. It doesn’t consume too much power and is ready to mine assets based on the Ethash algorithm.

Final Thoughts

Hopefully, with our help, it will be easier for you to select efficient mining equipment! No matter whether you’re interested in BTC or altcoins, Bitmain Antminer should be a safe choice. Antminers S21 and S19K Pro currently enjoy an intense and well-deserved demand thanks to their exceptional characteristics.

Is it mandatory to invest in a costly rig?

Gone are the days when private individuals could mine cryptocurrencies with simple graphics cards or graphics processing units. Today, it’s a labor-consuming process that requires solid initial investments and can deliver a very gratifying ROI.

After I purchase equipment that is compatible with a specific cryptographic algorithm, can I fine-tune it to meet the technical demands of currencies that have a different algorithm?

Unfortunately, no. Plan your activities in advance and opt for coins with the potential to remain relevant in the long run.

Is it impossible to find a miner that would be cheap, powerful and energy-efficient at the same time?

No. It’s inevitable to sacrifice one parameter for the sake of others – such as for instance, put up with dramatic electricity consumption in exchange for a record-breaking hashrate.

Is the list from this article exhaustive?

We tried to pick the best of the best for you. But you can also come across other worthy solutions on the market, such as Ebang Ebit E11++ or Dragonmint T1.