- How USB Bitcoin miner works
- Profitability of USB Bitcoin miners
- Recommendations for using USB Bitcoin miners
- Fun fact
- Popular USB Bitcoin miners
USB Bitcoin miners are compact, low-powered devices that plug into a computer’s USB port and perform Bitcoin mining on a small scale. They are often used by hobbyists. They work by participating in the hashing process of the Bitcoin network, but because of their limited power they are usually used in mining pools to increase the chances of earning Bitcoin.
The profitability of USB miners is very low, making them more suitable for learning and experimenting rather than making a serious income.
How a USB Bitcoin miner works
USB Bitcoin miners are compact devices that plug directly into your computer’s USB port. They are essentially smaller versions of the larger ASIC miners used in traditional setups, but with much less power and computational capabilities.
Connecting a USB miner to a computer starts the process of computing the transaction data into a hash that meets certain length requirements – the same task performed by larger miners. Once a matching hash is found, other miners on the network verify it, and a new block is added to the blockchain. In return, the miner is rewarded in Bitcoins.
Although USB miners contribute to the Bitcoin network, their impact is relatively small. With any chance of profitability, they are usually used as part of a mining pool. In a pool, a USB miner works alongside others, pooling computing power to increase the likelihood of earning Bitcoins. The rewards are then distributed to all participants based on their contributions.
USB miners are more of a tool for hobbyists in the broader Bitcoin mining ecosystem. They provide a practical way to learn about mining without the need for expensive equipment or high energy costs. There is also a small chance that a USB miner will be able to mine the next block purely by luck, which can lead to substantial rewards.
This is why USB mining is often referred to as “lottery mining”.
Profitability of USB Bitcoin miners
One of the most popular USB Bitcoin miners that exist today is the GekkoScience Compac F. This is a small device with a hash rate of about 200 gigahashes per second (GH/s) and typically costs between $120 and $150.
Profitability of using GekkoScience Compac F:
- Hash rate: 200 Gp/s.
- Power consumption: approximately 10 watts
- Cost: 130 dollars
- Bitcoin price: $55,000 per BTC
- Electricity cost: $0.10 per kilowatt hour (kWh)
Using an online mining calculator, you can estimate the daily earnings:
- Daily Bitcoin earnings: approximately $0.275
- Daily electricity costs: about $ 0.024
- Net daily profit: $ 0.251
Excluding changes in the difficulty of mining and the price of Bitcoin, the cost of the miner will be recouped in a year and a half.
The probability of successfully mining a Bitcoin block alone with GekkoScience Compac F within a year is approximately 0.000002628%. In other words, the odds are astronomically small – practically zero.
For most, USB mining is more of a hobby or educational tool than a serious profit-making venture.
Recommendations for using USB Bitcoin miners
- Run multiple USB miners: To increase your overall hashing power, consider running multiple USB miners at the same time. This won’t improve profitability dramatically, but it may increase earnings slightly. Make sure your computer or USB hub can support the power and cooling needs of multiple devices.
- Ensure adequate cooling: USB miners can get very hot unexpectedly, especially when running continuously. To avoid overheating, make sure they are cooled and not overloaded. You can use a USB fan or cooling pad to keep the temperature low, which can extend the life of the miners.
- Regular firmware updates: Manufacturers release firmware updates from time to time that can improve the performance or stability of the USB miner. Periodically check for updates on the manufacturer’s website and apply them as needed.
- Use a quality USB hub: If you have multiple USB miners running, invest in a high-quality powered USB hub that can provide sufficient power for each miner.
- Be aware of security risks: Only use proven, well-known mining software to manage your USB miners, beware of phishing attempts, and make sure your computer is protected with up-to-date anti-virus software and a firewall, no matter how large or small the mining operation.
Fun fact
Heatbit has created a smart heater that is simultaneously a Bitcoin miner. It is designed to heat a room while Bitcoin mining is going on in the background. This is a unique example of how cryptocurrency technology is being integrated into everyday home appliances.
Popular USB miners
GekkoScience NewPac
This model is an upgraded version of the GekkoScience Compac F. It offers a higher hash rate and is known for its efficiency. It is a great choice for those who want to get a little more power out of their USB miner without a significant price hike.
Avalon Nano 3
Simple and beginner-friendly, the Avalon Nano 3 miner is a popular option for those new to Bitcoin mining. It has a lower hash rate than others, but is reliable and easy to set up.
Bitmain Antminer U2
Though an older version, the Bitmain Antminer U2 is still a popular model due to its affordability and decent performance. It’s a good entry-level miner for a limited budget.
FutureBit Apollo BTC
While not strictly a USB miner, the FutureBit Apollo BTC is a compact and quiet miner that connects via USB and offers a higher hash rate than most USB-only models. It’s a great option if you need something small but powerful.
