Best Bitcoin Miners, Rated and Reviewed for 2024

Bitcoin mining is a competitive market where individual miners constantly look for the best, most cost-effective hardware they can use. However, the best bitcoin miners are hard to find because their demand is so high. Manufacturers sell out quickly, and marketplaces such as eBay and Amazon often list popular bitcoin miners at double or triple the manufacturers’ price.

And, with the price of bitcoin rising higher and higher, the demand is only going to increase accordingly.

To help the new and established miners, we are providing our list of our favorite bitcoin mining rigs on the market right now.

Top Bitcoin Mining Rigs

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1. Bitmain Antminer S19J Pro+

Price: $1,895

BMJ Rating: 4.0

The Antminer S19J series is a popular commercial and enthusiast-grade range of mining rigs from Bitmain. The original J series dates back to 2021, and the S19J Pro+ (also called S19 J Pro Plus 122Th) variant was launched in December 2022.

While the baseline Pro variant in this series has a hashrate of 100TH/s, the S19J Pro+ boasts a much higher 122 Th/s. It uses the standard SHA-256 algorithm ASIC miners use and has Bitmain’s proprietary BM1397 chip based on 7nm technology.

The miner has a power consumption rating of 3355W, which is impressive given its high hashrate. The rig can generate a noise level of up to 75 dB when the four cooling fans work at total capacity.

Our Verdict: The Antminer S19J Pro+ is arguably one of the best ASIC mining rigs ever created regarding the sheer balance between hashrate, power efficiency, and product cost. A 2023 pricing of around the $1,500 mark makes it the ultimate value proposition for serious bitcoin miners.

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2. AvalonMiner A1246

Price: $1239
BMJ Rating: 4.0

Along with Bitmain and MicroBT, Canaan is easily one of the top suppliers of ASIC miners. The AvalonMiner 1246 is one of their most popular offerings for bitcoin mining projects.

Combining a 90Th/s hashrate and 3420W power consumption makes it less attractive than the S19J Pro+ regarding value proposition. However, the AvalonMiner A1246 is also available at a considerably lower price point, which does even things out.

With a rated power efficiency of 38J/Th and 75dB max noise levels, the A1246 can stand a maximum operating temperature of  35℃. Inside, it uses the A12 AI-enabled chip for ASIC mining calculations.

Our Verdict: The Canaan AvalonMiner A1246 is one of the most affordable ASIC mining rigs on our list when bought brand new in 2023-24. At its current price point, the A1246 offers unmatched performance at an acceptable efficiency level, which is why it is the second-best ASIC mining rig on this list.

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3. MicroBT WhatsMiner M50S

Price: $2,055

BMJ Rating: 3.5

Released in July 2022, the M50S is another top-end bitcoin mining rig with SHA-256 from MicroBT. It is a direct competitor of the Bitmain Antminer S19J Pro+ regarding hashrate and power efficiency.

On both these metrics, the WhatsMiner M50S is narrowly ahead of the S19J Pro+, with a 128Th/s hashrate and 3276W power rating. It achieves this using a 5nm chip compared to the larger 7nm chip in the Antminer.

The chunky 12.8kg rig uses two fans and has a noise rating of 75dB, which is par for this class. It also has comparable heat tolerance levels to the Antminer at 45℃.

Our Verdict: The asking price is the only reason the WhatsMinr M50S is ranked below the Antminer S19 J Pro+. Pound for pound, this mining rig performs similarly to the more popular Bitmain product.

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4. Bitmain Antminer S19 XP

Price: $3589

BMJ Rating: 3.5

The S19 XP is one of the newest models from the Antminer series, having launched in July 2022. It uses a more power-efficient chip based on the 5nm architecture, in contrast to the larger 7nm chips used in older rigs.

You can easily see that difference in the power ratings. Despite having nearly 18 more Th/s than the Antminer S19 J Pro+, this rig only requires a maximum power input of 3010W.

All other features remain standard for a Bitmain rig, with an operating temperature range that goes as high as 45℃ and decent noise levels of 75dB at total capacity from the four fans cooling the entire system.

Our Verdict: The S19 XP is another reason Bitmain is so popular among bitcoin miners. Compared to the older options, its steep price is why this mining rig is just outside our top three.

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5. MicroBT WhatsMiner M30S++

Price: $1,900
BMJ Rating: 3.0

As the multiple "plus" signs in its name suggest, the WhatsMiner M30S++ is an iterative improvement on an already popular baseline mining rig from MicroBT. This model was launched in April 2020 and should be available at a heavily discounted price.

In a head-to-head comparison, the Bitmain miner is superior, but only slightly. The M30S++ delivers a lower hashrate of 112Th/s at a higher power consumption of 3470W.

However, the MicroBT miner costs roughly the same price as the Antminer series, severely reducing the overall value proposition. The rig uses two fans that deliver a standard noise level of 75dB and can work in temperatures of up to 40℃.

Our Verdict: The WhatsMIner M30S++ does not have the performance to beat the top dog from Bitmain. However, if you can find it for a lower price than the M30S++ or the S19J Pro+, it is still a competent bitcoin mining rig.

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6. Bitmain AntMiner S19 XP Hyd

Price: $6,651
BMJ Rating: 3.0

The Antminer S19 XP Hyd is a heavyweight among bitcoin miners in the true sense of the word. It boasts a hashrate of 255 Th/s, almost double that of the top-rated miner on this list.

That kind of performance requires a lot of power – almost 5304W. This industrial-scale mining rig uses advanced water cooling (hydro) instead of the traditional fan cooling systems used in most mining rigs. The water cooling system in the S19 XP Hyd is a closed-loop system not unlike the ones used in high-end gaming PCs. Although it comes at a steep order price, the advanced cooling and lower noise levels can make it worth it, especially if your mining operation is in a hot area.

Our Verdict: Although the S19 P Hyd has impressive hashrate credentials, it fails to impress the profitability index due to high cost and lower power efficiency of 40J/Th.

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7.  Pangolin MicroBT WhatsMiner M3X 

Price: $800
BMJ Rating: 3.0

The WhatsMiner M3X is a very compact bitcoin miner with a hash power rating of just 12.5 Th/s. It also has an energy consumption rating of 2050W, making it incredibly inefficient at its job.

However, we must remember that the M3X is based on a design at least five years old. The M3 series was created by MicroBT in 2018.

The chip used in this ASIC miner is based on the ancient 28nm technology, which is why it has such poor power efficiency. In contrast, the latest miners use 7nm or 5nm chips. The M3X is primarily targeted towards home-based mining enthusiasts.

Our Verdict: The low price point is the only redeeming feature of the MicroBT M3X. High power consumption makes it a poor choice if you live in an area with extremely low electricity costs.

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8. AvalonMiner 1166 Pro

Price: $1,449
BMJ Rating: 3.0

The AvalonMiner  1166 Pro from Canaan is positioned as a low-cost alternative to miners from Bitmain and MicroBT. This is one of the older devices on our list, with an official launch date of August 2020.

While it has a reasonably solid hashrate of around 80Th/s, the 1166 Pro is weighed down by sub-optimal power figures. This miner's 28nm SoC chip requires 3400W, resulting in around 42J/Th efficiency ratings.

The rig uses four cooling fans and has a noise rating of 75. It uses a proprietary Canaan Kendryte K210 SoC, also available on many other smart devices from the same manufacturer.

Our Verdict: Given its less-than-stellar power efficiency ratings, we need help recommending the 1166 Pro at its current online prices. It might be a good buy if you can find one at a heavy discount for under $1000.

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9. DragonMint T1

Price: $2,783
BMJ Rating: 1.5

The DragonMint T1 is a compact ASIC miner for home-based mining enthusiasts. The rig weighs just 6 kg and was first launched in April 2018. In some markets, it is also called the DragonMint T16T.

With a power rating of 1480W and 16Th/s hashrate, the DragonMint T1 is not an impressive miner by any stretch of the imagination. Availability is a significant question mark in 2023, as little information about its Chinese manufacturer, Halong Mining, is available online.

The T1 rig has a modest 12V voltage rating and operates with two compact fans. It can stand a maximum temperature threshold of 40℃.

Our Verdict: Due to its extreme power inefficiency and outdated pricing, we have given the  DragonMint T1 a low rating of 1.5 out of 5. Based on our research, this rig may no longer be under production.

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10. Ebang Ebit E11++

Price: $3,700
BMJ Rating: 1.5

Like the DragonMint T1, the Ebit E11++ is an ASIC miner manufactured in China. The company behind this device is Ebang. Launched in October 2018, the Ebit E11++ is outdated by 2023 standards.

The miner uses a 10nm chip that delivers a hashrate of 44Th/s while consuming a maximum power of 2000W. The required voltage level is around 12V, which makes it great for a casual at-home mining setup.

However, there are questions regarding the availability of the Ebit E11++. A mining rig with this level of performance should not be retailing above $3,000 in the current crypto market scenario. There are more efficient and powerful bitcoin miners at much lower asking prices in the market.

Our Verdict: The Ebit E11++ needs to be updated and more efficient to compete against a crop of new ASIC miners based on the 5nm and 7nm chips. It may even be discontinued, which would explain the steep asking price responsible for its 1.5 rating at BMJ.

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What Is  Bitcoin Mining?

For the uninitiated, bitcoin mining is the process by which participating nodes on the blockchain network, called miners, contribute computational power toward verifying transactions. Verification, in this case, involves solving a complex cryptographic problem before adding that transaction to the blockchain–a process known as “Proof of Work.” Once the block is added to the blockchain, other users can verify the legitimate transaction and maintain the integrity of the network ledger.

To encourage miners to participate, the bitcoin network releases a small number of bitcoins to whomever first provides the solution to the cryptographic problem. Essentially, there is a race to see who can verify the solution the fastest to get free bitcoins.

The Evolution of Bitcoin Mining

Bitcoin founder Satoshi Nakamoto defined the responsibility of securing bitcoin's ledger as belonging to miners. For this job, the miners get paid in bitcoin.

And this worked, for the most part. When a few people were interested in mining, a simple computer could mine bitcoin profitably.

As more people begin mining, mining difficulty increases. The only way to profitably mine bitcoin is with ASICs (Application Specific Integrated Circuits). These specialized computers run fast, hot, and loud with high-powered cooling fans. Yet, that noise is music to the ears of people mining bitcoin because it is the sound of making money in the mining business.

Risks Associated with Bitcoin Mining

There are risks associated with mining. The two main risks are the volatility of bitcoin prices and the issue of difficulty:

• Volatility: Mining profitability will fall if bitcoin prices drop 50%. If the price drops too low, profitability could disappear. Some people may leave bitcoin to mine Bitcoin Cash or other cryptocurrencies. A diversified mining operation with different machines mining Ethereum, Litecoin, and Bitcoin Cash may help offset losses if one coin loses its luster.
• Difficulty: Mining difficulty is based on when miners can finish a block on the blockchain. As more miners join in, the difficulty of accommodating the increasing hashrate of miners increases. If bitcoin's price increase stays ahead of difficulty rises, the miner is likely to do very well.

• Tertiary Costs: Electricity costs can directly affect your mining profitability. In 2022, falling BTC prices and rising hashrates caused mining rewards to plummet by as much as 80%. During the mining booms in 2017 and 2021, bitcoin mining machines paid for themselves in less than six months (in two months in some instances) due to rising prices of BTC.

The actual cost of the rigs can also vary wildly based on market fluctuations. For instance, our top-rated miner, the Antminer S19 J Pro, will cost $10,000 in 2021. By 2023, that price had fallen to less than $2500.

Miner’s Takeaway

Bitcoin mining isn’t the same opportunity that it was even ten years ago. Many individual miners have entered the field only to compete with large mining pools or mining consortiums fighting over each transaction. It can seem disheartening, but we think that, with the proper rig and some strategic participation, even beginners can find returns through bitcoin mining.

Depending on profitability, these beginners may want to start small, get a machine going, and consider going larger. If your machine can pay for itself in less than a year and still work, you will be doing well. Watch videos about mining on YouTube.

Remember: Buying bitcoin is a lot easier than mining for it.

 

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