What else can an ASIC Miner do?

An ASIC miner refers to a device that uses microprocessors for the sole purpose of “mining” digital currency. Generally, each ASIC miner is constructed to mine a specific digital currency. So, a bitcoin ASIC miner can mine only bitcoin.

Can Bitcoin miners be repurposed?

As electricity is a key cost for Bitcoin miners, they have sought out ever more efficient processors. But ASICs are so specialised that as they become obsolete, they cannot be “repurposed for another task or even another type of cryptocurrency mining algorithm”, the researchers write.

What can you mine with an Antminer?

Antminers are simply Bitcoin mining hardware. They are considered to be the most powerful mining hardware in the world. There are Antminers for different cryptocurrencies, such as Bitcoin, Litecoin, ZEC, and Etherium. Antminers do not charge a Bitcoin mining fee for Pay Per Last N Shares (PPLNS).

How much can an ASIC miner make?

In 2020, one modern Bitcoin mining machine (commonly known as an ASIC), like the Whatsminer M20S, generates around $8 in Bitcoin revenue every day.

Can you repurpose ASIC miners?

Contrary to what the other answer say, the truth is: Yes, but only for certain altcoins. While the miners are examples of application specific integrated circuits (ASIC) their actual purpose is to solve double SHA-256 algorithms, which Bitcoin happens to use.

What is the lifespan of a ASIC miner?

Three to five years is typically a machine’s average lifespan, although even longer periods aren’t unheard of. Newer models are expected to have at least five-year lifespans. For example, it’s not uncommon for mining farms to still have Antminer S9 models online, which originally launched in 2016.

Can ASIC mine other coins?

Note that Scrypt ASICs can also be used to mine other coins based on the same algorithm; you can choose the most profitable coin to mine based on relative price and difficulty (a parameter the network sets to make sure a new block is mined every 2.5 minutes on average, whatever the total hash power).

Can an eth ASIC miner mine etc?

The mining algorithm of ETC has been changed from Ethash to Etchash after the Thanos hard fork at block 11,700,000, which means Ethash ASICs and rented Ethash hashpower from NiceHash are not able to process the new algorithm and mine ETC.

Can you mine Ergo with ASIC?

What hardware do I need to mine Ergo? The mining algorithm Ergo uses is called Autolykos v2, it’s an ASIC-resistant memory-hard algorithm. This means you can use GPUs to participate in Ergo mining.