Posts Tagged ‘X11

There is a new more powerful ASIC miner from Baikal Miner that supports multiple algorithms for mining, the new Baikal Miner BK-G28 is a more powerful successor of the previous BK-X model that the company was selling up until recently. The new BK-G28 is almost 3 times faster in terms of performance on all supported algorithms and adds Groestl support on top of the already supported other algos. With the Baikal Miner BK-G28 you can get up to 28 GHS mining performance on X11, Quark, Qubit, Myriad-Groestl, Nist5 and Groestl with varying power consumption. The hashrate for Skein is at 14 GHS and for mining X11Ghost you can expect to get about 3.5 GHS. Baikal Miner is already taking orders for the new hardware, though they do not cite official price for the device yet.

Currently it is most interesting and profitable choice for the new BK-G28 is to be used for the Groestl algorithm, however a big number of these ASIC mines will easily reduce profitability in not time. Mining Groestl in GPUs is obviously getting depreciated, as most likely Baikal Miner will soon add support for Groestl for the owners of BK-X ASICs as well… most likely as son as they sell enough BK-G28s.

For more information about the new Baikal Miner BK-G28 muli-algorithm ASIC miner…

whattomine-x11-asics

It seems that there are already more than enough X11 ASIC miners available in order to essentially kill the profitability and make the purchase of a new X11 ASIC unprofitable on the long run. So what remains is the purchase of a small and affordable X11 ASIC miner for hobby miners that are not there just for the profit like most other miners are. Here is a quick check for the different X11 ASIC miners to see what daily profit you can expect via the What to Mine service. It seems that among the more established X11-based coins (they are not many and that is one of the problems for X11 ASICs) currently the most profitable one is Adzcoin (ADZ) followed by the leasing of your X11 hashrate at Nicehash and mining for DASH is a few steps below.

PinIdea DR-1 500 MHS X11 ASIC Miner:
– Adzcoin (ADZ) – $11.52 USD equivalent per Day
– Nicehash X11 – $7.05 USD equivalent per Day
– DASH – $6.39 USD equivalent per Day

iBeLink DM384M 384 MHS X11 ASIC Miner:
– Adzcoin (ADZ) – $8.84 USD equivalent per Day
– Nicehash X11 – $5.42 USD equivalent per Day
– DASH – $4.95 USD equivalent per Day

Baikalminer 150 MHS X11 ASIC Miner:
– Adzcoin (ADZ) – $3.42 USD equivalent per Day
– Nicehash X11 – $2.09 USD equivalent per Day
– DASH – $1.87 USD equivalent per Day

PinIdea DU-1 9 MHS X11 ASIC Miner:
– Adzcoin (ADZ) – $0.21 USD equivalent per Day
– Nicehash X11 – $0.13 USD equivalent per Day
– DASH – $0.11 USD equivalent per Day

The numbers above are based on the current exchange rate and do not include power costs for running the miner, so they are for the revenue you get from the miner, not the actual profit that remains when you deduct the power costs. As you can clearly see the X11 ASIC miners are already pretty expensive compared to what they are able to deliver in terms of daily earnings. If the situation remains like that you might be looking at something getting close to a year to get back your investment before starting to actually earn something on top, and things will most likely get even worse before (if) they start to get better. So if you already have an X11 ASIC miner you might want to either sell it or look for new coin launches that may temporary increase your mining profits. People that are not yet aware of the presence of X11 ASIC miners on the market that are rapidly increasing the hashrate should forget about mining X11 with their GPUs.

ibelink-asic-profitability

If you are in the market for X11 ASICs then you might want to reconsider as the profitability at the moment is nothing like when the first batch of iBeLink X11 miners started shipping. Now iBeLink is shipping to customers their second batch with a limit of up to 3 miners per customer and PinIdea, another company also started shipping their faster and more power efficient miners (1 per customer), though they had some shipping issues, so there could be delays. Later this month, apart from the large 384 MHS ASIC from iBeLink and the 500 MHS from PinIdea, we are waiting the release of smaller single chip USB X11 ASIC miners from PinIdea in the range of about 8 MHS per device to help the decentralization.

On the image above is a quick check of the current profit for miners using X11 ASICs from iBeLink, selling your hashrate is still the most profitable, but not by much compared to directly mining for DASH. You are going to be getting about 0.05 BTC or about $25 USD or about 3.5 DASH per day with that X11 ASIC at today’s rates, but you can expect that the profit will go down with more mining hardware becoming available.

pinidea-asic-profitability

This is the situation with the faster and more power efficient X11 ASIC miner from PinIdea, faster and more energy efficient, but also more expensive to purchase. You can expect to get about 0.65 BTC or about $32 USD or about 4.6 DASH per day with that X11 ASIC miner at today’s rates and the numbers will also go down with more miners getting released.

The problem with the release of a lot of X11 ASIC mining hardware is that the X11 market is still relatively small with only Dash having a very strong and big network at the moment and not that many “big” X11 other altcoins, not that many in overall as well. As a result in the short term we might see a decline in the profitability for X11 especially with more big ASIC miners coming online and even though GPU miners would start moving away from X11 you should still carefully consider to invest or not in X11 ASIC hardware at the moment. On the long term however we expect to see the transition of X11 from GPUs to ASIC miners and though it may be a bumpy road, hopefully things will not get out of hand and a lot of X11 hashrate getting centralized in the hands of few essentially leading to the loss of user interest in everything X11 and coins forking to other algorithms.


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