Usb Bitcoin Miners – Their Advantages and Limitations
Of CNBCTV18.com IST (published)
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Most people associate Bitcoin mining with powerful computers and massive energy consumption. However, it is also possible to mine BTC using something as small as a flash drive. Of course, not just any flash drive will do. You need to have a specific device known as a USB Bitcoin Miner.
Most people associate Bitcoin mining with powerful computers and massive energy consumption. However, it is also possible to mine BTC using something as small as a flash drive. Of course, not just any flash drive will do. You need to have a specific device known as a USB Bitcoin Miner.
What is a USB Bitcoin Miner?
It is a small device that you can plug into your PC or laptop to start mining Bitcoin. This USB stick is essentially a mini mining rig that can increase the processing power and hash rate of your computer. Hashrate is a unit of measure used to measure the speed of mining. It is measured in units of hashes/second.
However, a USB BTC miner alone is not enough. It will never be able to match the hash rate of a full-fledged ASIC mining rig. Therefore, you need to combine several such devices, often through a USB expansion card, to start mining Bitcoin.
Together, these devices can provide the necessary hash rate to solve the complex puzzles that are part of the Bitcoin mining process. Once you have enough USB mining rigs connected to your computer, install the proper mining software and you can start mining.
Here are the top 5 USB Bitcoin mining hardware:
-ASIC Bitcoin Miner USB
-Gekkoscience Compac USB stick
-Avalon nano 3
-Bitmain Antrouter R1
-21 Bitcoin computer
How does it compare to regular mining?
USB miners allow a person to participate in the mining process and compete with other miners in validating transactions and minting new coins. But they do not have a sufficiently high level of computing power to make inroads into the established mining industry, which uses powerful and cost-intensive ASIC rigs.
This is why there are few cases of USB Bitcoin miners adding new blocks and receiving block rewards. However, such cases do exist. For example, in January 2022, CryptoPotato reported two separate individuals who managed to add new blocks with their USB mining rigs and received block rewards upwards of $260,000. One of them used a Gekkoscience Compac USB stick.
Benefits of USB Mining
One of the main advantages of USB mining is that it allows an ordinary blockchain enthusiast to participate in the mining process with any computing device – a laptop, or tablet. It can equip someone with knowledge and hands-on experience of the entire mining process without needing expensive ASIC mining rigs.
Low entry costs
When it comes to individual mining, the cost of ASIC hardware can prove to be a serious barrier to entry. This is because ASIC miners can cost upwards of $4,000, compared to a few hundred dollars for USB miners. The low cost of entry allows more solo miners to participate in the mining process. But bitcoin mining is becoming increasingly competitive. These days, to compete with the big mining companies, an ASIC rig is considered a minimum requirement.
Energy efficient
Another significant advantage of USB mining is that it is very energy efficient compared to ASIC mining, which is notorious for high energy consumption. In fact, one of the most virulent criticisms of Bitcoin is that mining uses so much energy that it is considered environmentally unsustainable.
USB Mining Limitations
Although USB miners allow anyone to get into crypto mining without making a significant investment, they do not provide sufficient mining power to compete with ASIC miners and mining companies. USB miners only allow solo miners to get a taste of mining and earn some winnings if they are lucky.
Cloud mining is a better option for individuals who want to mine Bitcoin. You can use rented cloud power to start mining without directly installing or running hardware or related software.
