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Crypto Mining on a Budget: Best Used Mining Rigs

Crypto mining rig set up.

During the bitcoin boom in 2017, which saw the price of the digital currency rally from $1,000 to $20,000, there was a shortage of graphics cards and bitcoin miners due to the high demand for digital currency mining equipment. Once the digital asset markets started to cool off in early 2018 and mining become less profitable due to an increase in mining difficulties combined with a drop in market prices, used crypto mining rigs become readily available online.

In this guide, you discover how you can mine on a budget using used mining rigs that you can easily purchase online in 2019.

Best Used Mining Rigs

We have compiled a list of seven digital currency miners that can be bought second-hand on major retail platforms such as Amazon. To rank the machines, we looked at the current (used) market price, hash power, how much energy each machine consumes, how user-friendly they are, and when they were originally released.

Name Description Price ($) Hash Rate Energy Consumption (Watts) Ease of Use Initial Release Year Score
Avalon Miner 741 The Avalon Miner 71 is a rig created by Canaan Creative. The device is designed to mine SHA256 coins and can be used to mine on ten different blockchain networks. Released in April 2017, the Avalon Miner 71 was orginally priced upwards of $2,000. $198.99 7.3 Th/s 1150 5 2017 4.0
Antminer S3 The Antminer S3 is one of the earliest models ever released by Bitmain. The ASIC is optimized for the SHA256 algorithm and was first put up for sale in July 2014. It intially retailed for amounts over $1,500. $168.00 478 Gh/s 366 5 2014 4.0
Antminer D3 The Antminer D3 is an ASIC for the X11 algorithm. There are 5 networks which utilize X11 and can be mined with the Antiminer D3. The device was released by Bitmain in October 2017 and originally retailed upwards of $1,500. $119.00 19.3 Gh/s 1350 5 2017 4.0
Antminer L3 plus The Antminer L3 plus is a rig created by mining giant Bitmain.The rig was released in April 2017. Designed specifically for mining Scrypt based coins like Litecoin, the rig is a good start for those looking to mine the altcoin without breaking the bank. It was originally priced upwards of $2,000. $228.00 504 Mh/s 800 5 2017 3.5
Antminer S11 The Antminer S11 is another device from the Bitmain roster. One of the newer models on this list, the Antminer was released to the public towards the end of 2018. The device is a SHA256 compatible device so it can mine all networks that employ this algorithm. It was originally priced over $2,000. $599.00 20.5 T/hs 1530 5 2018 3.5
Innosilicon Terminator T2 The Terminator T2 model from Chinese mininng supplies firm Innosilicon was released in May 2018. The rig is an ASIC device designed for networks using the SHA256 algorithm. The price upon release was upwards of $2,000. $900.00 17.2 Th/s 1430 5 2018 3.5
Innosilicon Dominator A4 The Dominator A4 by Innosilicon was released in July 2017. The ASIC is designed to mine networks which employ the Scrypt algorithm like Litecoin and nine others. The Dominator A4 initially sold for upwards of $ 2,500. $500.00 280 M/hs 1050 5 2017 3.0

Check Mining Profitability Before Buying Mining Hardware

Before jumping onto the digital currency mining bandwagon and launching a small at-home mining operation, it is advisable to check mining profitability for the miner(s) you intend to buy and the coins you intend to mine. Digital asset prices change every second and mining difficulties adjust on an ongoing basis. Mining profitability can, therefore,  quickly move from profitable to unprofitable.

Hence, it is highly advisable to check mining profitability using specialized online mining calculators, such as the CryptoCompare calculator, before making any purchases.

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The post Crypto Mining on a Budget: Best Used Mining Rigs appeared first on Bitcoin Market Journal.

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