Michelle Legge
By Michelle LeggeHead of Crypto Tax Education
Updated Feb 2, 2024
This article has been fact checked and reviewed as per our editorial policy.

10 Best Bitcoin Mining Machines in 2024

Want to mine Bitcoin or other cryptocurrencies and fill your bags? It’s a competitive scene, so you need the right tools for the job - which means having the top mining hardware. Fortunately, we’ve saved you hours of research and put together our list of the best Bitcoin mining rigs, and best crypto mining hardware for other blockchains, based on profitability. Let’s go.

What’s the best Bitcoin mining hardware in 2024?

Best Bitcoin mining hardwareSome of the most profitable and best ASIC Bitcoin miners include:

  • Bitmain Antminer S19 XP Hyd (255Th)

  • Bitmain Antminer S19 XP (140Th)

  • Canaan Avalon Made A1366

  • MicroBT Whatsminer M50S

  • MicroBT WhatsMiner M56S

Mining HardwareHashratePower Consumption (Watts)Price (USD)
Bitmain Antminer S19 XP Hyd (255Th)255Th/s5304$4,150+
Bitmain Antminer S19 XP (140Th)140TH/s3010$3,999+
Canaan Avalon Made A1366130TH/s3250$5,499+
MicroBT Whatsminer M50S126TH/s3276$2,999+
MicroBT WhatsMiner M56S212TH/s5500$4,300+

Bitmain Antminer S19 XP Hyd (255Th)

Also known as the Antminer S19 XP Hydro, the S19 XP Hyd is a top-of-the-line Bitcoin mining rig produced by Bitmain, a market leader in mining hardware. The machine is an updated version of the popular Antminer S19 Pro model and was released in October 2022.

The Antminer S19 XP Hyd has a hash rate of 255 terahashes per second (TH/s), putting it ahead of most other mining machines in terms of hash rate. However, that hash rate comes at a price because the S19 XP Hyd has a power consumption of 5304 watts - so for many investors, the cost to run the machine may deter them depending on how much electricity is per kilowatt in their location.

This said, those looking for a quieter mining machine may opt for the S19 XP Hyd as it comes with a water-cooling feature instead of fans, meaning it runs at a relatively quiet 50dB compared to most fan-cooled mining machines.

Antminer S19 XP Hyd key features

  • Manufacturer: Bitmain

  • Release: October 2022

  • Noise level: 50db

  • Cooling: Water cooling

  • Power: 5304W

  • Interface: Ethernet

Bitmain Antminer S19 XP (140Th)

A slightly more cost-effective version of the S19 XP Hydro, the Antminer S19 XP is another high-performance mining machine produced by industry leader Bitmain, with a hash rate of 140 terahashes per second (TH/s).

As you’d expect, the power consumption is lower given this lower output, coming in at 3010 watts comparatively, so for miners looking for a high hash rate with a lower power consumption the S19 XP is an excellent choice.

This cryptocoin mining machine features four fans to cool the unit, which unfortunately creates a much higher noise level of around 75 decibels.

Antminer S19 XP key features

  • Manufacturer: Bitmain

  • Release: July 2022

  • Noise level: 75db

  • Fans: 4

  • Power: 3010W

  • Interface: Ethernet

Canaan Avalon Made A1366

The Avalon Made A1266 is a high-performance Bitcoin mining rig, made by Chinese manufacturer Canaan. The bitcoin mining machine was released in November 2022, as a much-awaited update to the popular A10 model.

The machine has a hash rate of 130 terahashes per second, power consumption of 3250 watts, and a user-friendly interface, which allows users to configure the device and monitor its performance easily.

When it comes to cooling, the machine has 6 fans, which is great for ensuring your rig doesn’t burn out. But the noise level is substantial, clocking in at 75 decibels.

Avalon Made A1366 key features

  • Manufacturer: Canaan

  • Release: November 2022

  • Noise level: 75db

  • Fans: 6

  • Power: 3250W

  • Interface: Ethernet

MicroBT Whatsminer M50S

The Whatsminer M50S is made by China-based MicroBt, which has an excellent reputation for building crypto coin mining rigs. The machine was released in July 2022, but

The mining machine has a lower hash rate than many of the other rigs featured in our best Bitcoin mining machine list, at 126 terahashes per second (TH/s)

As well as this, the machine has a relatively high power consumption of 3276 watts, and noise-wise, despite only featuring two fans, the MicroBT Whatsminer M50S clocks in at 75 decibels.

However, where the Whatsminer M50S really shines is cost. Compared to other crypto mining machines, the Whatsminer M50S is far cheaper, starting from $2,999. So for miners looking to get set up with a high-quality hardware that remains profitable, without spending upwards of $5,000, the M50S is an excellent choice.

Whatsminer M50S key features

  • Manufacturer: MicroBT

  • Release: July 2022

  • Noise level: 75db

  • Fans: 2

  • Power: 3276W

  • Interface: Ethernet

MicroBT WhatsMiner M56S

Our final entry on our best Bitcoin mining hardware list is another contender from MicroBt - the Whatsminer M56S.

The MicroBT Whatsminer M56S has a hash rate of 212 terahashes per second, making it one of the most powerful Bitcoin miners on the market. Like with the Antminer S19 XP Hyd though, that hash rate will cost you. The Whatsminer M56S has a power consumption of 5550 watts, so investors should carefully calculate their electricity costs vs. profits to see whether this machine is profitable for them.

All this said, the M56S uses water cooling, which makes it much quieter than most other fan-cooled Bitcoin mining machines, with a noise level of around 45 decibels.

WhatsMiner M56S key features

  • Manufacturer: MicroBT

  • Release: January 2023

  • Noise level: 45db

  • Cooling: Water cooling

  • Power: 5550W

  • Interface: Ethernet

What’s the best crypto mining rig in 2024?

best crypto mining hardwareOf course, Bitcoin isn’t the only cryptocurrency you can mine, and because it’s so competitive it can actually be harder to be profitable mining Bitcoin than other cryptocurrencies. So here are the best crypto mining hardware options for alternative blockchains like DOGE, LTC, DASH, and more:

  • Bitmain Antminer D9 (1770Gh)

  • Bitmain Antminer K7 (63.5Th)

  • Bitmain AntMmner Z15

  • Bitmain Antminer L7 (9.5Gh)

  • iPollo V1

Mining HardwareHashrateAlgorithmPower Consumption (Watts)Price (USD)
Bitmain Antminer D9 (1770Gh)1.7Th/sX112839$5,900+
Bitmain Antminer K7 (63.5Th)63.5TH/sEaglesong3080$5,400+
Bitmain Antminer Z15420ksol/sEquihash1510$2,300+
Bitmain Antminer L7 (9.5Gh)9.5Gh/sScrypt3425$6,500+
iPollo V13.6Gh/sEthash3100$6,300+

An important note before we dive into the details, although you can use these machines to mine alternative cryptocurrencies, you can also use them to mine and be paid in Bitcoin using services like NiceHash.

Did you know mining rewards are taxed? Find out how much you need to pay in our Ultimate Crypto Mining Tax Guide.

Bitmain Antminer D9 (1770Gh)

The Bitmain Antminer D9 is a popular crypto mining machine with an X11 mining algorithm, meaning it can mine popular coins like DASH.

The D9 has a hash rate of 1770 gigahashes per second and a relatively low power consumption of 2839 watts, making it more affordable to run than many other top mining machines.

However, some investors may be put off by the price and noise levels. The machine starts at a relatively high price point of $5,000+ as it's one of the newest machines on the market and remains a top contender in terms of daily profitability. When it comes to noise, the machine runs at around 75 decibels, mostly due to the four fans featured to cool the rig.

Antminer D9 key features

  • Manufacturer: Bitmain

  • Release: February 2023

  • Noise level: 75db

  • Fans: 4

  • Power: 2839W

  • Interface: Ethernet

Bitmain Antminer K7 (63.5Th)

Another top-of-the-line machine from popular manufacturer Bitmain, the Antminer K7 was released in January 2023 and is one of the most powerful and profitable mining machines on the market currently, with a hash rate of 63.5 terahashes a second.

The machine can mine coins using the Eaglesong algorithm and is a popular choice for mining CKB.

As the machine only features two fans, it's relatively efficient given its high hash rate when it comes to power consumption - clocking in at 3080 watts. Despite this though, the noise levels will be off putting for some investors, as the machine has a relatively high 75 decibel noise level.

Antminer K7 key features

  • Manufacturer: Bitmain

  • Release: January 2023

  • Noise level: 75db

  • Fans: 2

  • Power: 3080W

  • Interface: Ethernet

Read next: Top 7 Best Bitcoin Mining Pools

Bitmain Antminer Z15

Despite not being one of the newest machines to the market the Bitmain Antminer Z15 remains one of the most profitable, thanks to its low price point and low power consumption compared to many of the best crypto mining machines.

The Antminer Z15 has a hash rate of 420ksol/s (solutions per second) and features the equihash algorithm, meaning it can mine popular coins like ZEC, BTG, and ZEN.

As well as this, the machine clocks in a power consumption of 1510, making it far, far lower than many other mining machines. However, despite only featuring two fans for cooling, the machine does have a noise level of 72 decibels.

One of the most appealing features of the Antminer though is the price point, with prices starting from as low as $2,300, meaning investors using this crypto machine may see a much quicker return on investment than more expensive mining rigs.

Antminer Z15 key features

  • Manufacturer: Bitmain

  • Release: June 2020

  • Noise level: 72db

  • Fans: 2

  • Power: 1510W

  • Interface: Ethernet

Bitmain Antminer L7 (9.5Gh)

The last Bitmain machine on our best crypto miner machines list is the Antminer L7. Like the Z15, the L7 isn’t exactly new - it was released in November 2021, but despite its age, remains one of the most profitable mining machines in the market.

The Antminer L7 has a maximum hash rate of 9.5 gigahashes per second with a power consumption of 3425 watts, making it a relatively efficient machine, though investors should check their electricity costs where they live.

The machine can mine Scrypt algorithm coins, meaning it can mine a variety of popular cryptocurrencies including Dogecoin, Litecoin, and Syscoin to name a few.

However, all this comes at a price, and it's a high one. The Antminer L7 starts from around $6,300 new!

Antminer L7 key features

  • Manufacturer: Bitmain

  • Release: November 2021

  • Noise level: 75db

  • Fans: 4

  • Power: 3425W

  • Interface: Ethernet

Looking for the best crypto mining software? Check out our expert guide on the best crypto mining software.

iPollo V1

The only mining rig featured in our best crypto mining machine list that isn’t made by Bitmain, iPollo is a reputable ASIC manufacturer, and the V1 is the flagship product of its V series - which also features mini home miners for those looking for a much more affordable (and quieter!) crypto mining machines.

The iPollo V1 has a maximum hash rate of 3.6 gigahashes per second and a relatively modest 3100 watt power consumption, making it a fairly efficient crypto mining rig and a top contender for profitability.

Those looking for a quieter machine should look at the V mini options, as the iPollo V1 has a noise level of 70 decibels and features four fans.

The machine mines the Ethash algorithm, meaning it can mine popular coins like Ethereum Classic and could previously mine Ethereum prior to the Proof of Stake switch in 2022 (aka the Merge).

iPollo V1 key features

  • Manufacturer: iPollo

  • Release: June 2022

  • Noise level: 70db

  • Fans: 4

  • Power: 3100W

  • Interface: Ethernet

All these profits come with tax implications though - so make sure you read our crypto mining tax guide!

How to pick a Bitcoin mining rig

So now you’ve seen the best Bitcoin and crypto mining machines in 2024… which one do you pick? Well, there are a few factors to consider, including:

  • Price

  • Efficiency

  • Hashrate

  • Noise

  • Algorithm

Price

Most profitable mining machines don’t come cheap and you’ll struggle to find a profitable crypto mining machine for less than $1,000.

Of course, people’s budgets will vary depending on their personal circumstances, but a factor to consider (and do the calculations for!) is your return on investment (ROI). You need to have an idea of how long you’ll need to have your machine running before you’ve paid back your initial investment (the cost of your machine) through crypto mining. Fortunately, there are lots of tools online that can help you do this.

Efficiency

It’s great having a higher hash rate, but often this comes with some huge implications for your power consumption, and therefore your electricity bill.

So when you’re calculating your ROI and your profitability, you need to subtract your electricity costs. This will of course vary where you live, but again there are many tools online to help you calculate this and figure out what machines are realistically going to be profitable in your area.

Hash rate

A high hash rate is good, but understanding the measurements used is key in choosing the best mining machine. Here’s a brief overview of hash rate denominations:

  • 1 kH/s is 1,000 (one thousand) hashes per second

  • 1 MH/s is 1,000,000 (one million) hashes per second.

  • 1 GH/s is 1,000,000,000 (one billion) hashes per second.

  • 1 TH/s is 1,000,000,000,000 (one trillion) hashes per second.

  • 1 PH/s is 1,000,000,000,000,000 (one quadrillion) hashes per second.

  • 1 EH/s is 1,000,000,000,000,000,000 (one quintillion) hashes per second.

Of course, there are also Sol/S measurements (solutions per second).  Sol/s is usually equivalent to H/s (hashes per second) but may depend on the hashing algorithm. Here are the Sol/S denominations:

  • 1 Ksol/s is a thousand hashes per second.

  • 1 Msol/s is a million hashes per second.

  • 1 TSol/s is a trillion hashes per second.

Noise

Mining machines are loud and typically range from 50 to 75 decibels.

To put that in perspective, most vacuum cleaners run at around 70 decibels, so you really need to consider the noise levels you can live with, or consider setting up a dedicated area for your crypto mining machine.

Algorithm

Last but not least, you need to consider which algorithm your machine can mine. Some of the most common mining algorithms and the respective coin(s) include:

Read Next: How To Mine Crypto at Home

FAQs

More questions about Bitcoin mining? Here are your answers.

Can I mine Bitcoin on my computer?

Not really. Bitcoin mining is very competitive and as such you’re unlikely to be able to successfully mine Bitcoin on a regular home PC. There are other cryptocurrencies that use less power you may be able to mine at home though.

Can I mine other cryptocurrencies?

Yes! Other popular cryptocurrencies to mine include Dogecoin, Ravencoin, Ethereum Classic, Litecoin, Vertcoin, and more.

How long would it take to mine 1 BTC?

At the current mining difficulty, it takes around 10 minutes to mine each block.

Are Bitcoin miners worth it?

Bitcoin is highly competitive, meaning it's very difficult to mine solo successfully. This said, if you have the resources for a decent mining rig and join a mining pool, or use a service like NiceHash then the majority of crypto miners will make a return on their investment and profit. But check the electricity costs where you live first!

How much money do Bitcoin miners make?

This very much depends on how they’re mining, the pool they’re in, their electricity costs, and the price of Bitcoin. You can use a service like NiceHash or ASICminervalue to see which miners are most profitable.

Can I mine Bitcoin without hardware?

Sort of. You can use cloud mining to mine Bitcoin without hardware. But a word of warning, many cloud mining sites are not reputable and you should always DYOR before investing.

Use Koinly to help you calculate your mining income and taxes

Mining crypto coins comes with distinct tax implications in most countries. You can learn more in our crypto mining tax guide, but generally speaking, your mined coins will be subject to Income Tax upon receipt and Capital Gains Tax when you dispose of them by selling, swapping, or spending them.

For profitable miners, it's a lot of work. You'll need to keep track of the fair market value of your mined coins on the day you received them in your fiat currency, report this to your tax office, and pay any tax due.

Fortunately, Koinly can help you keep track of your mining income and any gains or losses from selling mined coins. Better still, it's free to use. Try Koinly free today.

Banner with Koinly logo and text Calculate Your Crypto Taxes

Disclaimer
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