Just like Bitcoin and Bitcoin Cash, Bitcoin SV (BSV) has its separate blockchain. Bitcoin SV, in many ways, is similar to Bitcoin and Bitcoin Cash. BSV is a hard fork of Bitcoin Cash. Its mission is very straightforward. They want to retain the core values and technology of Bitcoin Core while allowing massive on-chain scaling, which can enable enterprises to build on top of their blockchain.
At the time of writing, Bitcoin SV is ranked 7th in terms of market cap. If you think this coin has potential, and you want to own some Bitcoin SV by mining, then this article is for you. Today we will look at the most profitable mining hardware for Bitcoin SV.
Just like Bitcoin and Bitcoin Cash, Bitcoin SV also uses SHA-256 mining algorithm. If you want to earn some money mining Bitcoin SV, you must own an ASIC (Application Specific Integrated Circuit). These are specialized hardware that is built from ground up to do just one thing. That is to generate hashes. Because of their nature, an ASIC is very efficient at generating hashes at very low power consumption. The most powerful GPU or CPU cannot compete with an ASIC. The contribution of hash power by a GPU or CPU to the total hash power network is too small to realize a profit. So in this article, we will list out some of the most profitable ASICs to mine Bitcoin SV.
To find the most profitable hardware, you need to consider these factors:
- Hash power of the hardware.
- Power consumption of the hardware.
- Cost of hardware.
- Electricity fees.
- The market price of Bitcoin SV.
Hash Power of the Hardware
Having hardware that can generate a high hash rate can determine if mining is going to be profitable or not. Hash rate is usually measured in hashes per second (H/s). That is how many hashes the hardware can generate within a second. Hash rate of hardware fluctuates all the time while mining; however, you can average it out to get the average hash rate. This number is crucial when determining the profitability of specific hardware. There are some tools available, which enable you to overclock your mining hardware. This can increase the hash rate by a significant margin, which allows you to increase the mining profit.
Power Consumption of the Hardware
Power consumption is usually measured in watts (W) or kilowatts (kW). It is a measure of electrical energy consumed by something in unit time. The best mining hardware always consumes the lowest amount of energy, relative to the hash rate it produces. Knowing the hash rate and the power consumption of hardware, you can calculate its efficiency, which measures the efficiency of specific hardware at mining.
The efficiency of mining hardware is usually measured by dividing the number of watts by the hash rate. This figure gives you an idea of how well your mining hardware performs in comparison to others. Although this value is not directly related to mining profit, some of the best mining hardware scores very well on efficiency.
Cost of Hardware
The cost of all mining hardware fluctuate with the profitability of mining. As a miner, your goal is to recoup all costs associated with mining and mining equipment with mining payouts. The money you make after you cover all costs associated with mining is what we call profit. The faster you get there, the better.
Electricity fee is the most important factor to consider when mining for profit. You can have inefficient mining hardware, but if you have cheap or free electricity, you can still earn a profit. Efficient mining hardware, coupled with cheap electricity can be a game-changer. You can check the cost of kWh by inspecting your electricity bill.
Market Price of Bitcoin SV
No one can predict the future value of Bitcoin SV. The market price of Bitcoin SV, for the most part, determines if your mining venture is profitable or not. There are 2 types of miners; miners that sell Bitcoin SV immediately as they mine, and those that hold Bitcoin SV to sell at a higher price in the future. Holding is obviously more profitable if the price appreciates. However, in a scenario where price depreciates, you will lose more money than if you had sold BSV as you mined them.
What is the Most Profitable Hardware to Mine Bitcoin SV (BSV)?
Finding the most profitable hardware to mine Bitcoin SV is just as easy as entering values in a mining calculator and hitting calculate. You can use WhatToMine calculator for that. However, you do need to know some information about the mining hardware, specifically:
- Hash rate of your hardware.
- Power consumption of your hardware.
- The total cost of mining setup.
- Electricity fee in your area.
- The pool fee.
Enter these values in the mining calculator and hit calculate. You will get a breakdown of estimated profit:
You can check out the table below to find the most profitable hardware to mine Bitcoin SV:
|Hash Rate||Power Consumption||Efficiency||Price||Profit|
|MicroBT Whatsminer M40||410 TH/s||2570 W||6.27 W / TH||Check Price||Check|
|MicroBT Whatsminer M30s++||112 TH/s||3100 W||27.68 W / TH||Check Price||Check|
|Antminer S19 Pro||110 TH/s||3500 W||31.81 W / TH||Check Price||Check|
|Antminer S19||95 TH/s||3250 W||34.21 W / TH||Check Price||Check|
|MicroBT Whatsminer M30s||88 TH/s||3344 W||38 W / TH||Check Price||Check|
|Antminer T19||84 TH/s||3150 W||37.5 W / TH||Check Price||Check|
|Antminer S17+||76 TH/s||3040 W||40 W / TH||Check Price||Check|
|MicroBT Whatsminer M20s||72 TH/s||3312 W||46 W / TH||Check Price||Check|
|Innosilicon T3+||67 TH/s||3300 W||49.25 W / TH||Check Price||Check|
|Cheetah F5+||66 TH/s||2838 W||43 W / TH||Check Price||Check|
|Antminer S17e||64 TH/s||2880 W||45 W / TH||Check Price||Check|
|MicroBT Whatsminer M21s||56 TH/s||1860 W||33.21 W / TH||Check Price||Check|
|Antminer S17 Pro||53 TH/s||2100 W||39.62 W / TH||Check Price||Check|
If your favorite mining hardware is not listed here, you know how to calculate the profitability of that hardware. Our goal is not to cherry-pick the most profitable hardware at the given moment; it is to teach you how to find the most profitable hardware at any given moment.
Which Mining Hardware Should You Choose?
If profit is your biggest concern, then you must choose the mining hardware that can generate the highest amount of profit. However, the most profitable hardware may not be the most affordable. In that case, you must choose the most profitable hardware that is also within your budget.
The great thing about owning a SHA-256 ASIC is that you are not limited to mining just Bitcoin SV (BSV). SHA-256 is the same mining algorithm used by Bitcoin and Bitcoin Cash.
So, considering profit, you may not want to mine Bitcoin SV in the first place. Calculate the profitability of your mining hardware for Bitcoin, Bitcoin Cash, Bitcoin SV, and other SHA-256 coins; find the most profitable coin to mine, and mine that coin.
Mining involves some risk. There is no guarantee that your mining venture will be profitable. Sometimes, buying cryptocurrency may be the best choice. Check out this article where we compare mining with buying. If you’re confident that mining is the best investment you can make, then you can maximize the chances of making a profit by finding the most profitable hardware to mine Bitcoin SV.