What is an ASIC Miner?

Basic information

Cryptocurrency mining requires a lot of computing power to win the ‘race’ against other miners and to get the reward in the form of newly mined cryptocurrency. ASIC (short for ‘Application-Specific Integrated Circuit’) miners are devices created for just one purpose – to mine cryptocurrency. Because of this, they do their job far better than other computers. Compared to GPU or CPU miners, they also consume less power, which can play an important role in mining profitability. On the other hand, they cannot be used for anything else, and each ASIC miner is designed to mine only a specific cryptocurrency. Also, not all cryptocurrencies can be mined with ASIC miners, as some are designed to be resistant to ASIC mining. ASIC miners are also usually noisy and generate a lot of heat. Therefore, even considering their high purchase price, the question remains whether they are still worth buying for home use.

Sources:

https://www.investopedia.com/terms/a/asic.asp

https://www.businessinsider.com/personal-finance/asic-mining

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