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BTC Mining Considerations

There seems to be a lot questions on Bitcoin talk these days about CPU mining.  When people find out its not that effective they want to know what is best.  I wrote this to respond to a few threads.

Mining with CPU is inefficient.   Since GPU mining started the network hash rate hash made it so that CPU mining generates very little value.  With the new ASIC miner hitting the markets the GPU mining is over.

I wrote a blog article that will help you understand the value of mining hash rate as it compares to the network hash rate : https://bitcoinsbs.wordpress.com/2013/01/16/how-much-mhash-does-it-take-to-mine-1-btc/

Then to understand the mining hash rate of the mining devices look here : https://en.bitcoin.it/wiki/Mining_hardware_comparison

If you are interested in ASIC mining, there are two companies Butterfly Labs and Avalon that seem to be the way to go.  You’ll be on a waiting list for either company.

For a comparison with CPU mining you might get 10 MH/sec, GPU depending on the card up to 800 MH.s with lots of power consumption,  FPGA you’ll get less power consumption and just as high of rates for the money.  The cost of power is an issue at the present time.  ASIC change that some as they use a lot less power.  ASIC run about 60 GH/s depending on the unit.  Avalons 60 GH unit uses about 600w and BFL 60 GH unit is supposed to only use 60w.

Here are a few other reall good resources for the user that wants to consider mining:

 

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One comment on “BTC Mining Considerations

  1. how to mine bitcoin
    May 19, 2014

    Thanks for sharing your thoughts about litecoin trading history.
    Regards

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This entry was posted on February 9, 2013 by in Mining and tagged , , .
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