Throughout several years advising and managing Crypto-mining projects, our team has seen similar behavior among new entrants and incumbent players alike in regards to the decision making process around purchasing and deploying new/used miners.

In that time, we’ve noticed many instances of would-be miners making uneducated decisions when it comes time to choose their hardware. Today, we are sharing a snapshot of how Harpia helps clients make educated hardware purchase decisions. There are many available options on the open market, and we have compiled all currently available Bitcoin miners into the chart below. Utilizing the two crucial functions Hash/Dollar and Hash/Joule, miners can be mapped against each other to produce the best miner for any client project: we’ve taken the guesswork and turned it into a science.Depending on the chosen build-out site specifications, it is prudent to maximize one of those two axis functions.

With sites that sport lower electricity prices, ($0–0.03kWh) maximizing Hash/Dollar, often by utilizing last-generation or used wholesale miners provides a higher return on investment over the functional lifespan of the equipment. Sites sporting higher power rates should seek to maximize the Hash/Joule function to achieve better electrical efficiency and thus prolong profitable payouts.

In order to best showcase the different types of ASICs available on the market, the chart is divided into three zones:

Zone 1: The Hash/Dollar zone; last-generation miners that maximize ROI with power costs equal to or below $0.025/kWh. These miners, such as the Bitmain Antminer S9, will become unprofitable at higher electricity priced areas once the Halvening occurs next May.

Zone 2: The “Goldilocks” zone; miners that provide a balanced mix between the two factors.

Miners in this zone often sport the best overall project ROI. These are current generation miners that will have sustained profitability in the next 3–5 years.

Zone 3: The “future proof” zone; miners that reliably maintain highest profitability on electricity cost and represent cutting edge technology. These miners are top-of-the-line when it comes to electrical efficiency, but often sport a high price tag that makes them less efficient on a per dollar basis.

Depending on project specifications, one of these three zones will be the best fit. At Harpia, we help clients arrive at the right conclusion by applying data-driven modeling with each unique project’s specifications in mind. Remember, choosing the right miner(s) could be the difference between a long, profitable project and one that loses money. We leave nothing to chance when it comes to finding your best miner.