There are a number of important ASICs for Bitcoin mining that are alternatives to the big Asian firms, and here we show them to you!
When talking about the famous Bitcoin mining machines, the ASICs, it’s inevitable not to associate them with the big brands. The manufacture of these hardware is concentrated in five giants, which occupy more than 90% of the international market.
According to studies, the market of mining machines is dominated by Bitmain. However, this brand is closely followed by MicroBT and the quintet is completed by Innosilicon, Canaan Creatives and Ebang. The last two are listed on Nasdaq.
However, despite the overwhelming oligopolistic dominance that these five manufacturers exercise in the market, they are not the only ones. There are a number of alternative companies to the big ones, which manufacture ASICs for Bitcoin mining. In this work, we present you some of them.
Bitcoin mining ASICs, the world beyond Bitmain
As explained in other works, ASICs are machines specialized in the mining of Bitcoin and other digital currencies. It should be remembered that the extraction of the main cryptomoney could be done from a GPU.
As already stated above, there is an oligopoly of five giants of the manufacture of these specialized machines. They control almost 90% of the market, mainly the two colossal MicroBT and Bitmain, which have more efficient and demanded equipment.
But there is a margin of small companies, which offer an interesting variety of equipment. It is important to highlight that many of these equipments are of low quality or, in its defect, its electric consumption is high and in many cases, they constitute a very high cost for the miners, who bet for the big manufacturers.
Bitcoin Mining: efficiency is the key to the market
Some of the alternative brands
It is important to consider that some of this equipment could be of low quality. In this sense, it is advisable to take precautions and not to invest in them unless you are sure of it.
The first on this list is Spondoolies. This is a company specialized in the manufacture and design of ASICs for Bitcoin mining. The best known equipment of this brand, are the SP series.
KNC is another manufacturer. Although the company does not currently exist, since problems led it to cease its activities, some of its equipment can still be found used. The quality of them is low for obvious reasons.
Another company is Bitfury, a Dutch firm that has multiple services related to the Blockchain. The Tardis, are their best ASICs for Bitcoin mining, although their efficiency is low due to their high power consumption.
The market of ASICs for crypto coin mining, specifically from Bitcoin, is dominated by an oligopoly of five companies. Source: The market of ASICs for crypto coin mining, specifically from Bitcoin, is dominated by an oligopoly of five companies.
A long list
The list of alternative mining machine manufacturing companies is much larger than one might think. Some of the firms described no longer exist, others are just beginning operations. Meanwhile, a third group, has not been able to break the competition of the Asian giants.
In this link, you can find a much more extensive list, which can serve as a reference to know the high variety of firms. As always, the recommendation is to keep your eyes open and avoid buying poor quality products that can result in losses.
Efficiency is the factor to take into account
As it is known, Bitcoin mining ASICs consume a high degree of energy. In many countries, the electrical costs are quite high, so miners bet on more efficient equipment.
When it comes to efficiency, these are machines that consume less energy and have a higher hash power. These are the most sought after on the sites, once again, with the most expensive energy bills.
With this in mind, investing in equipment of unknown brands can be counterproductive in many places. Not only is there a risk of the quality of the equipment, but also that it may not be profitable.
Data to take into consideration
Among the five main manufacturers of ASICs for mining equipment of Bitcoin, they occupy more than 90% of the market.
Among these five giants, MicroBT and Bitmain are the absolute dominators.
Efficiency is one of the most important factors in guaranteeing the success of a company of this type.