Bitcoin mining can be done by any user who has access to the internet and owns a suitable mining hardware. An efficient bitcoin mining hardware needs to have a higher hash rate. But more importantly, electricity efficiency is also a must-have.
An efficient bitcoin miner refers to paying low electricity costs per hash. Inorder to improve the efficiency of the bitcoin mining hardware, certain mining providers permit you to order hardware to their own warehouses and run the same for you. Continue to browse further through this post to understand the evolution of digital mining hardware.
In the initial days of Bitcoin trading, mining was done with the help of CPU’s from common desktop computer systems. This was the only known way of mining bitcoins and was done by making use of the methodology originated by the Satoshi client. In the search for securing the digital network and earning more digital currency, miners have devised many new platforms over the years.
In about a year and a half after the mining innovation began, it was uncovered that sophisticated graphics cards for bitcoin mining were more efficient and hence the environment changed. CPU mining changed to GPU (Graphical Processing Unit). The extensively similar nature of certain GPU’s allowed a 50x to 100x appreciation in the bitcoin mining rate while using a lesser power per unit of work done.
Just as the transition from CPU to GPU took place, the bitcoin mining system progressed further up the line to FPGA (Field Programmable Gate Array). With the favorable launch of the Butterfly Labs FPGA ‘Single’, the bitcoin mining hardware world invented a specifically manufactured mining hardware devoted to the mining of only bitcoins.
While the transition to FPGA did not provide any increase in speed, it provided a benefit of greater power efficiency and made it easier to use.
The bitcoin mining market has finally entered into the Application Specific Integrated Circuit (ASIC) era. An ASIC chip is designed precisely to perform only one task. Unlike the FPGAs and earlier versions, ASIC is not designed to perform other tasks.
An ASIC which is designed to mine bitcoins is designed only for mining bitcoins and nothing else. The rigidity of ASIC offers 100x hike in the hashing power, which in turn reduces the consumption of power compared to all the previous hardware. A few models of the bitcoin miners include Antminer U3, ASICminer BE tube, VMC Platinum 6 Module, USB miners, etc