The first thing for miners is how to choose the right mining machine to maximize the benefits. This involves the timing, price, and type of mining machines to buy.
Now that you have understood what a miner is, as a qualified miner, the first thing to do is to choose a suitable mining machine. This involves several issues: when to buy a mining machine, at what price to buy a mining machine, and what type of mining machine to buy.
The right time to choose the miner
Like Bitcoin, the price of miners is not fixed. Mining machines have an obvious bull-bear cycle, so the timing of purchasing mining machines can be appropriately selected. If you start a mining machine at the top of a bull market, once you encounter a plummeting bear market, the return on capital will become a distant prospect. On the contrary, when the price of the bull market is rising, the income of the mining machine will increase greatly, the return time will be shortened rapidly, and even the price of the mining machine will also increase, which can be said to kill two birds with one stone.
Choose the right miner
The various types of mining machines also determine the various price points of mining machines. Therefore, when purchasing a mining machine, it is very important to evaluate the price of the mining machine. There are generally two reasonable methods: one is to calculate the number of days of static payback, and the other is to evaluate the cost of mining machines. But either method requires careful observation of market dynamics and caution.
What type of mining machine to buy
A particularly important indicator for miners is the ratio of electricity costs to mining revenue. Once the electricity bill reaches 100%, the miners will be unprofitable. The lower the electricity cost of the mining machine is, the better it can withstand the slump in the currency price. To put it to the extreme, if the electricity cost of mining machines is the lowest in the world, then the miners can always be invincible, the mining machines will never stop, and they can always make money. Therefore, the lower the proportion of electricity bills, the more insurance.
However, mining machines with a low proportion of electricity bills are also more expensive, which means that the number of static payback days is longer. Let’s take whatsminerS17 Pro, whatsminerM20S, and whatsminerM21S as examples, and their proportion of electricity bills has increased in turn. But whatsminerM21S is cheaper and pays back faster.
Although it is not as durable as other mining machines, it is the most profitable in a short period of time. Of course, in the long run, the mining revenue will decrease, and the later M21S may not be as good as the S17 Pro, which has a low electricity cost. Therefore, which mining machine to buy, it is necessary for users to combine their own investment strategies and market conditions, and comprehensively consider risks and benefits.
At the same time, the mining machine market is constantly innovating, the performance of mining machines will become more excellent, and the proportion of electricity bills will be lower. If you want to buy or learn more about mining machines, please understand and contact us.