Choosing the right hardware is crucial for maximizing profits and minimizing losses in cryptocurrency mining. In this article, we will analyze and compare popular ASICs specifically designed for mining Litecoin (LTC) and Dogecoin (DOGE). The models compared are the Bitmain Antminer L7 (versions 8.3 to 9.5), Elphapex DG1 and DG1+, and the upcoming Bitmain Antminer L9 (versions 16.2 to 17.6).
1. Bitmain Antminer L7
- Performance: 8.3 – 9.50 GH/s
- Electrical Consumption: 3425W
- Noise Level: 75dB
- Availability: Immediate
2. Elphapex DG1 and DG1+
- Performance: 11 – 14.4 GH/s
- Electrical Consumption: 3420 – 3950W
- Noise Level: 75dB
- Availability: Immediate
3. Bitmain Antminer L9
- Performance: 16.20 – 17.60 GH/s
- Electrical Consumption: 3260W
- Noise Level: 75dB
- Release Date: June/July 2024
These ASICs offer various performance and efficiency levels, allowing miners to select the best option for their needs and budget. Beyond the technical specifications, understanding the broader context of Litecoin and Dogecoin mining is essential.
Litecoin and Dogecoin Mining Overview
Litecoin and Dogecoin are well-established cryptocurrencies. Litecoin, created by Charlie Lee in 2011, is often called “digital silver” and has a prominent position in the crypto ecosystem. Dogecoin, launched in 2013 as a joke, has since gained a strong community and significant market capitalization.
Scrypt Algorithm
Both Litecoin and Dogecoin use the Scrypt consensus algorithm, which was initially designed to be more resistant to specialized hardware mining (ASICs) than Bitcoin’s SHA-256. However, the development of specialized ASICs for Scrypt has improved mining efficiency significantly.
Other Scrypt POW Coins
In addition to Litecoin and Dogecoin, other cryptocurrencies use the Scrypt algorithm for Proof of Work (POW) mining, such as Feathercoin (FTC), Vertcoin (VTC), and Syscoin (SYS). Mining these can provide diversification and additional investment opportunities for miners.
Profitability Analysis (May 2024)
Monthly Earnings (from lowest to highest)
- Bitmain Antminer L7 8.55GH/s: $472.10 + $74.26 = $546.36
- Bitmain Antminer L7 9.05GH/s: $499.71 + $78.60 = $578.31
- Bitmain Antminer L7 9.50GH/s: $524.55 + $82.51 = $607.06
- Elphapex DG1 11GH/s: $607.38 + $95.54 = $702.92
- Elphapex DG1+ 14.40GH/s: $795.11 + $125.07 = $920.18
- Bitmain Antminer L9 16.20GH/s: $894.50 + $140.70 = $1,035.20
- Bitmain Antminer L9 17.60GH/s: $971.81 + $152.86 = $1,124.67
Energy Efficiency
- Bitmain Antminer L7 8.55 GH/s: $546.36 / 3425W = $0.159/W
- Bitmain Antminer L7 9.05 GH/s: $578.31 / 3425W = $0.169/W
- Bitmain Antminer L7 9.50 GH/s: $607.06 / 3425W = $0.177/W
- Elphapex DG1 11 GH/s: $702.92 / 3420W = $0.205/W
- Elphapex DG1+ 14.40 GH/s: $920.18 / 3950W = $0.233/W
- Bitmain Antminer L9 16.20 GH/s: $1,035.20 / 3260W = $0.317/W
- Bitmain Antminer L9 17.60 GH/s: $1,124.67 / 3260W = $0.345/W
Conclusion
If the price were proportional across all ASICs, the decision would rest solely on power efficiency and performance. Based on the data, the Bitmain Antminer L9 17.60 GH/s, with the highest energy efficiency of $0.345/W, would be the best choice. However, pricing is not proportional and tends to increase with higher GH/s rates.
- Approximate Price per GH/s:
- L7 and DG1: €700/GH
- DG1+: €830/GH
- Antminer L9 (estimated): €900/GH
Given these estimates, the Bitmain Antminer L9 versions, despite their higher initial cost, could offer better long-term profitability due to their superior energy efficiency.