What Exactly Is a Mining Rig?
Mining Rigs are computer servers specifically designed to mine cryptocurrency. However, they differ from traditional servers since their only purpose is to serve a singular function by delivering the most raw computing power (critical to mining) for the lowest use of electricity. Rigs use the computing power to confirm each block transaction as they solve the coin-specific and help miners receive the newly issued cryptocurrency coins that they “earned” for solving each block at a faster rate than competitors. While there are other technologies available to miners, Rigs are one of the most sophisticated and effective systems available today.
The inner workings of a Rig are not dissimilar to that of a multi-purpose personal computer. They are typically more versatile than their alternatives and can be applied to process any algorithm or future proof-of-work model. However, the value or return on investment of mining hardware can vary depending on the algorithm being processed and the type of coin being mined. For instance, some mining Rigs can be more successful at mining Dash such as Graphics Processing Unit (GPU) Rigs, while others like Application-Specific Integrated Circuit (ASIC) Rigs are better for mining Bitcoin. Each has its own strengths and purposes.
GPU Rigs can be converted for use in combination with AI machinery and other applications. In addition to their attribute as a source of general purpose computing power, GPU Rigs can easily be sourced, only require standard hardware, have a high resale value and are upgradable. However, one drawback is that GPU Rigs typically have higher electrical costs, especially for systems running 24/7, which can be extremely expensive in locations with high power costs. This is one of the reasons, in addition to the cool climate, that HashChain implements GPU Rigs to mine Dash in locations such as Vancouver, Canada with low electrical rates.
HashChain’s ASIC Rigs can be found in their strategically located Montana, U.S.A. and Buffalo, NY data centers where there are a total of 3,395 rigs deployed that can operate at 5.8 megawatts (MW) of computing power. ASIC Rigs are incredibly useful as they require low power consumption for very high hash rates. Their efficient nature made them significantly more profitable in comparison with other mining Rigs, not to mention benefits derived from their lighter weight and smaller footprint. A limitation to consider is that they are not upgradable. That said, despite the resistance they face from the cryptocurrency community, they offer unprecedented speed and low power consumption -- which is what makes them the preferred Rig of many miners.
Both Rigs offer varying levels of flexibility and freedom for mining purposes, and remain ahead of the game in terms of profitability and long-term gains.