Which miner to buy? A guide from professionals

A lot has changed with the Bitcoin Halving 2024, but fortunately you can find valuable questions and tips to help you find your way in our guide on “Which miner to buy?”.

At MILLIONMINER you will find Bitcoin miners, Doge and LTC miners, Kaspa miners, ETC miners and many more. In addition to the sale of ASIC miners, we offer comprehensive hosting solutions for ASIC miners and, since 2024, also Bitcoin cloud mining.

Security vs. risk: which type are you?

As a rule, the first question is which coin or algorithm you personally want to invest in. If you are looking for stability and consistency, you will probably mainly want to mine Bitcoin. If you are looking for a balanced mix of risk and stability, you might be interested in kheavyhash for Kaspa or scrypt for Dogecoin and Litecoin. If you are currently looking for an investment opportunity with higher risk and greater potential returns, the Alephium algorithm, which can be used to mine the cryptocurrency of the same name, may be of interest.

Money: How much do you want to spend?

You should also ask yourself how much money you want to invest in a new miner. Prices vary greatly from miner to miner and, of course, depending on the performance. The latest models are also usually a little more expensive and difficult to obtain.

It is therefore advisable to regularly register yourself on waiting lists in order to be one of the first to order a new model. For example, the Antminer KS5 Pro for KAS is currently available. For an Alephium miner such as the Antminer AL3, you still have to join a waiting list. A Bitcoin miner such as the Antminer S21, on the other hand, is available and already costs EUR 3,600. Home miners such as the IceRiver KS0 are even cheaper - the price here is usually between EUR 600 and EUR 1500, depending on the model.

Location: Where do you want to use the miner?

This brings us to the next topic: “Where should the miner be located in the future?”. Here you should pay attention to the power consumption and the plugs used. Particularly power-hungry miners such as the S21 Hydro quickly use more than 5000 watts and rely on P13 or P33 power plugs. These plug variants are not available in a normal household and the sockets are usually not designed for such continuous loads. In contrast, an S19j Pro with 3300 watts can be operated in a modern household. Unfortunately, many miners do not consider the noise level caused by the fans. Such a powerful miner is definitely not suitable for the bedroom. Such a miner is much better suited to the hobby room or garage and can also serve as a heater in winter, as it is well known that around 80% of energy consumption is converted back into heat energy.

Fortunately, there are also some miners with particularly low power consumption and low noise levels. The IceRiver KS0 Ultra stands out here in particular, which offers a mining performance of 400GH/s for Kaspa with a power consumption of just 100 watts and is suitable for any office. If you also use an external housing fan here, the internal fans can be massively reduced. In this combination, you can even set up the Miner in the bedroom.

As an alternative to operating the miner in your own rooms, you can of course also use our hosting service. In this case, your future miners will be operated by us in a data center. The big advantage is the low outlay, low operating and electricity costs and easier access to service technicians.

Future: Which miners are future-proof?

Due to the halving of miner remuneration in 2024, Bitcoin miners are currently less profitable than before the halving. Anyone interested in a Bitcoin miner should therefore include a rising Bitcoin price in their calculations. In the past, it has always been shown that the Bitcoin price has risen again after a halving. A rising price ultimately also increases the miner's remuneration in fiat currencies such as USD and EUR. Of course, it is difficult to predict when such a price increase will occur, but the miner remuneration is paid in BTC and not in USD. This means that if the price rises later, the mined Bitcoin will of course be worth more.

Another coin and algorithm that has been on the rise for several months is Kaspa, as mentioned above. This coin seems to be slowly establishing itself on the market and there are numerous miners from Bitmain and IceRiver available. Most of these miners currently offer the highest profitability on the market. For example, an IceRiver KS5 Pro can currently generate a profit of up to USD 80 per day. But even less powerful models such as the KS0 Ultra generate a profit of up to USD 1 per day after electricity costs.

Miners with the scrypt algorithm are available directly after Kaspa. These currently offer stable miner remuneration and can be used for Dogecoin, Litecoin and many other coins. Miners with this algorithm offer a certain level of security in terms of the number of coins that can be used.

According to current calculations, the Bitmain Antminer AL3 with 8TH/s for Alephium even offers a profit of up to USD 500 per day. We are curious to see when and at what price the miner will be available and what profits can still be generated afterwards. However, the future of Alephium itself still seems uncertain.

Cloud: When it comes to Bitcoin mining, it can also be worthwhile to simply rely on our new cloud mining. Here, you don't buy any hardware, but invest directly in the corresponding service. As mining fees are currently very low, you can achieve high computing power in this way and benefit all the more from future price increases.

Which miner should I buy now?

As mentioned at the beginning, this is entirely down to personal preference. We currently continue to rely on conventional Bitcoin miners, but also recommend Kaspa and Doge miners. If you intend to buy several miners, it is worth diversifying - as with all investments - and relying on several algorithms.

If you still can't make up your mind despite our guide, our ASIC Miner professionals are always available for advice. Simply send us an email to info at millionminer dot com, write to us on WhatsApp, request a quote for miners or hosting, ask for a callback or get a direct quote for our cloud mining.

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