In this article, we break down the 8 best Bitcoin mining machines in 2023. We’ll walk through the best options for you — whether you’re looking for low-cost or high-efficiency options!
Quick Look: The 8 Best Bitcoin Mining Hardware in 2023
Here’s a quick look at the 8 Best Bitcoin Mining Hardware in 2023.
Bitmain AntMiner S19 Pro Bitmain AntMiner S9 Bitmain AntMiner T19 Whatsminer M30S++ Canaan AvalonMiner 1246 Dragonmint T1 Ebang Ebit E11++
Below, we’ll have a detailed breakdown of all eight options — with information like hash rates, power consumption, and price — along with each machine's pros and cons.
If you’re not sure how to choose the best Bitcoin mining machine for you, we recommend you skip to the section ‘What to Consider When Selecting Bitcoin Mining Hardware’.
Bitmain AntMiner S19 Pro
The Bitmain Antminer S19 Pro is considered one of the best options on the market for Bitcoin mining. While it’s more expensive than other machines on this list, it delivers a hash rate of 110 Th/s!
List Price: $3,230 Hash Rate: 110 Th/s Power consumption: 3250 W Bitmain AntMiner S9
While the S9 has a relatively low hash rate, it’s one of the most affordable mining machines on the market.
However, one thing to keep in mind is that the Bitmain AntMinerS9 has high noise levels — which means it may not be the best choice if you wish to set up your mining machine in your home.
Price: A used Bitmain Antminer S9 sells for $246. Hash Rate: 14 Th/s Power consumption: 1323 W Bitmain AntMiner T19
The AntMiner T19 was designed to strike a balance between efficiency and affordability. While the Antminer T19 has a slightly lower hash rate, it sells for half the price of the S19 Pro on the resale market!
Price: $1,755 on Amazon Hash Rate: 84 Th/s Power consumption: 3150 W Whatsminer M30S++
The Whatsminer M30S++ is one of the most powerful Bitcoin mining machines available. The platform allows you to mine Bitcoin and Bitcoin Cash at a stunning 112TH/S hash rate.
The Whatsminer M30S++ is more expensive and more power-intensive than other mining machines on this list. It may not be the best choice for beginner miners.
Price: A used Whatsminer M30S++ is currently listed on Amazon for $2,455. Hash rate: 112TH/S Power consumption: 3472 W Canaan AvalonMiner 1246
The Canaan AvalonMiner 1246 is another Bitcoin mining hardware with fast hash rates and high power consumption that may be more suitable for advanced miners.
The Canaan AvalonMiner 1246 comes with high noise levels, which means it may not be the best option if you wish to mine Bitcoin in your home.
Power consumption: 3420W Hash Rate: 90Th/s Price: $3,890 Canaan Avalon6
While the Avalon6 may have a lower hash rate than other mining machines on this list, the hardware is affordable and easy to set up.
The Avalon6 has been praised by customers for being a great option for home mining. Unlike other machines, the Avalon6 has relatively low noise levels.
Power consumption: 1500W Hash Rate: 3.5 T/S Price: Currently, the Avalon6 can only be bought second-hand. The machine usually sells for less than $600! Dragonmint T1
The Dragonmint T1 is a fantastic option that allows you to mine Bitcoin with relatively low power consumption. Manufactured by Halong Mining, the Dragonmint T1 is an impressively powerful ASIC that delivers 16TH/s with a remarkably low power draw.
Power consumption: 1480 W Hash Rate: 16 Th/s Price: A used Dragonmint T1 currently sells for $1,295 on Amazon. Ebang Ebit E11++
The Ebang Ebit E11++ can be a good option for miners who are looking for an efficient option. Despite only having a power consumption of 1980W, the Ebang Ebit E11++ has a hash rate of 44 Th/s.
The Ebang Ebit E11++ has a high noise level, so it may not be ideal for a home mining operation.
Power consumption: 1980 W Hash Rate: 44 Th/s Price: A used Ebang Ebit E11++ currently sells for $350 on sites like eBay. What to Consider When Selecting Bitcoin Mining Hardware
There are three primary factors to consider when choosing the best Bitcoin mining hardware.
Remember, the cheapest Bitcoin mining machine may not be the best choice for the long-term. As a rule, cheaper hardware will deliver lower efficiency and lower profitability.
Hash rate is the rate at which Bitcoin mining hardware is able to make intensive mathematical operations. In simple terms, the higher the hash rate of the hardware, the more likely it is that the miner or mining pool for which the hardware is operating will solve the next block in the Bitcoin blockchain. As a rule, higher hash rate hardware is more expensive.
Bitcoin mining hardware is essentially designed to convert electricity into BTC. If you’re not sure how to choose the best Bitcoin mining hardware, focusing on energy efficiency is the best place to start.
It’s also important to make your decision based on your specific situation. For example, the cost of power in the region where you will operate your mining equipment plays a major role in calculating overall profitability.
Overall, the best Bitcoin ASIC is the most cost-efficient, most profitable ASIC. The development of ASIC devices has accelerated rapidly over the last decade, with new hardware released on an annual basis that often renders older hardware obsolete.
Crypto Taxes From Mining
It’s important to remember that cryptocurrency mining is subject to tax.
When you earn cryptocurrency mining rewards, you’ll recognize income based on the fair market value of your crypto at the time of receipt. When you dispose of your mining rewards, you’ll incur a capital gain or loss depending on how the price of your crypto has changed since you originally received it.
You can learn exactly how to handle your cryptocurrency mining rewards in our
. complete guide to cryptocurrency mining taxes VIDEO Cryptocurrency Tax Software
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like CoinLedger can help. Crypto tax software
Once all of your mining transactions are imported, CoinLedger automatically retrieves the historical fair market value prices for each mining payout and gives you an income report you can use with your taxes.
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