Requirements – What do You Need to Start Mining Litecoin Today?
Mining can be resource-intensive and as such, you might do well to gather all the information you need before you start mining Litecoin. This will include things like what hardware is best for LTC mining, the software to choose, or what technical terms to get a grip on as you start. Get all these details and more below.
Popular Hardware and Mining Rigs for Litecoin
If you are going to mine Litecoin profitably in 2021, then you need the right hardware equipment. Initially, it was possible to do LTC mining just with your CPU (Central Processing Unit), and then it was the GPU (Graphics Processing Unit).
Things have changed though and today if you want to make money mining then the game-changer is the ASIC (Application-Specific Integrated Circuit). This mining hardware tool is now the most popular in Litecoin mining, and rightly so: it’s purpose-built for mining and comes with incredible computational power and efficiency. The only problem you are likely to encounter is that while some hardware devices are moderately priced, many command top-tier prices.
There are several top ASIC rigs in the market you can choose from, with the ASIC miner you pick likely to depend on three factors:
Hash Rate: You need to check on the output of hashes per second for the device. The more power it packs the higher its success rate is likely to be. Check on efficiency as that relates to output versus energy consumption.
Price: ASIC miners are priced variously, and how much a device cost reflects mining capability and electricity use. Keep this in mind as you look to invest in a Litecoin ASIC miner.
Electricity: one of the considerations is to have a model that does not need too much power. For example, getting a low-power ASIC model means you can minimise electricity while maximising the ROI.
Efficiency: This is a key consideration as a highly efficient ASIC means it can solve complex puzzles much faster and at a low cost in terms of electricity. The best ASICs for LTC mining are therefore those with the highest efficiency rates.
With the above information at hand, here are three of the most popular and efficient ASICs for Litecoin mining:
1. Innosilicon A6+ LTCMaster
This is yet another top ASIC model for Litecoin mining. The A6+ LTCMaster is a hardware mining machine developed by Innosilicon and supports Litecoin’s Scrypt algorithm. The 2019 model comes with an output of 2.2Gh/s in hash rate, with power consumption at 2100W and efficiency of 0.955j/Mh. The A6+ is quite pricey—it costs $1500 but comes with a PSU. Electricity cost is pegged at 0.12/kWh.