For newcomers, how to choose miners?

5 min readJun 25, 2022

Newcomers are always faced with a problem which is how to choose the right miners. Don’t worry, it is not difficult. When you chooes miners, four following factors you should take into consideration.

First, you need to choose which cryptocurrency you are going to mine, such as BTC、ETH and KDA.

Second, you should consider the right time to buy a miner. Cryptocurrencies have an obvious bull and bear cycle. To a large extent, buying miners is like buying cryptocurrencies. When buying miners at the top of the bull market, the price of miners is often inflated. At this time once encounters a slump in the bear market, it will be hard to recoup.

Instead, if you buy miners when the bear turns to bull, you can not only buy cheap miners, or even lower than the cost price. When the cryptocurrency price rises in the subsequent bull market, the profit of miners increases significantly, the recovery time is rapidly shortened, and the price of miners will also rise, which can be said to “kill two birds with one stone”.

Third, the price of miners. When buying miners, there are two ways to evaluate whether the price of miners is reasonable. One is to calculate the period of static payback and the other is to evaluate the cost of miners. Static payback period is easy to calculate. But when the cryptocurrency price soars, the payback period will be greatly shortened. It gives the illusion of big money can be easily made. Once the cryptocurrency price plummets, the payback period will sharply increase. So we should be cautious about this. When evaluating the cost of miners, if the price is much higher than the cost of miners, it often means that there is a big bubble in the market. And when the price of miners falls sharply, even below the cost price, at this time the hashrate of whole network is difficult to grow. But it is a better time to buy a miner in this situation.

Four, the cost of mining. It includes the cost of buying miners、maintenance cost and electricity. For BTC, electricity accounts for most of the mining cost.

Recently, cryptocurrencies have been in the bear market for a period of time. But considering the above four factors, it is a good time to buy some miners with good performance and lower prices.

It is recommended to buy a miner with high hashrate and low consumption, in order to prevent the occurrence of shutdown because of the price crashing. In addition, referring to the situation of cryptocurrency market, BTC has always been the popular cryptocurrency, ETH has launched a lot of good performance of small miners, KDA is getting more and more attention. Therefore, I recommend following miners of these cryptocurrencies.

For BTC, electricity price is an important factor in the cost of bitcoin mining.

In some regions that do not have an advantage of electricity price, the following miners will be good choices.

Antminer S19 pro 110Th/s 3250W https://www.nhash.net/miners/150988076359884800

Antminer S19j pro 104Th/s 3068W https://www.nhash.net/miners/68697078150209536

Antminer S19j pro 100Th/s 3050W https://www.nhash.net/miners/150988085557993472

Antminer S19j Pro 96Th/s 2832W https://www.nhash.net/miners/68696263507320832

For some regions with low electricity price, you can think about iPollo B1L.

iPollo B1L 55Th/s 3000W https://www.nhash.net/miners/128478487420870656

For ETH

If you consider about building a mine

iPollo V1 3600Mh/s 3100W https://www.nhash.net/miners/94129954756763648

If you consider a household miner

iPollo V1 Mini 300Mh/s 240W https://www.nhash.net/miners/133524982696255488

If you worry about the consensus mechanism of ETH switching from POW to POS, and you are going to consider about mining ETC. Here are some good miners with fair prices.

For someone who wants to build a mine

iPollo V1 Classic 1550Mh/s 1240W https://www.nhash.net/miners/133514426044129280