Michelle Legge
By Michelle LeggeHead of Crypto Tax Education
Updated Jul 17, 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? Researching the best bitcoin miners in 2024? 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.

  • The Bitmain Antminer S21 Hyd 335T is the most profitable Bitcoin mining machine currently, followed by the Canaan Avalon Made A1266, and MicroBit Whatsminer M50S.

  • If you want to mine other cryptocurrencies, the Bitmain Antminer KS3, Bitmain Antminer D9, and Bitmain Antminer K7 are all solid choices.

  • Bitcoin mining machines remain expensive pieces of equipment, and you should research energy costs where you live before investing.

What’s the best Bitcoin mining hardware in 2024?

Bitcoin miners are available in a range of price points and specs. Some of the most profitable and best ASIC Bitcoin miners include:

Mining HardwareHashratePower Consumption (Watts)Price (USD)
Bitmain Antminer S21 Hyd (335Th)355TH/s5360$4,200
Bitmain Antminer S19 XP Hyd (255Th)255TH/s5304$4,150+
Canaan Avalon Made A1366130TH/s3250$5,499+
MicroBT Whatsminer M50S126TH/s3276$2,999+
MicroBT WhatsMiner M56S212TH/s5500$4,300+

Bitmain Antminer S21 Hyd (335Th)

The Bitmain Antminer S21 Hyd 335T is one of the latest machines from the popular mining manufacturer, released in February 2024. The machine supports the SHA-256 Bitcoin algorithm, with a hash rate of 335Th/s, and a hydrocooling feature. Given the profitability of the machine, it comes in as relatively inexpensive, at $4,200+.

Bitmain Antminer S21 Hyd 355T key features

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.

Antminer S19 XP Hyd key features

Canaan Avalon Made A1366

The Avalon Made A1266 is a high-performance Bitcoin mining rig, made by Chinese manufacturer Canaan. This 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, a 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

MicroBT Whatsminer M50S

The Whatsminer M50S is made by China-based MicroBt, which has an excellent reputation for building crypto coin mining rigs. This 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.

Whatsminer M50S key features

MicroBT WhatsMiner M56S

The MicroBT Whatsminer M56S has a hash rate of 212 terahashes per second, making it one of the best 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

What’s the best altcoin mining rig in 2024?

Of 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. If it's altcoins you're into, you'll need to research the best crypto miners that are not bitcoin-centric.

Here are the best crypto mining hardware options for alternative blockchains like DOGE, LTC, DASH, and more:

Mining HardwareHashrateAlgorithmPower Consumption (Watts)Price (USD)
Bitmain Antminer KS3 (9.4Th) 9.4Th/sKHeavyHash3500$12,600+
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+
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.

Bitmain Antminer KS3 (9.4Th)

The Bitmain Antminer KS3 (9.4Th) was released in October 2023, making it one of the newest mining rigs on our list. While the noise levels (75db) and lack of water cooling may put some investors off, it’s one of the most profitable crypto mining machines currently - supporting the KHeavyHash algorithm for Kapsa (KAS) with a 9.4Th/s hash rate. But the price for the latest mining equipment is steep, starting from $12,000+.

Bitmain Antminer KS3 key features

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

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

Bitmain Antminer Z15

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

iPollo V1

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

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

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

Read next: Top 7 Best Bitcoin Mining Pools

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.

Mining rig 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

Crypto 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

Use Koinly to help you calculate your mining income and taxes

Mining crypto 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.

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