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The Secret, Dangerous World of Venezuelan Bitcoin Mining

Four years ago, Alberto's career calenfar were bleak. The 23-year-old Calendsr had just graduated from college with a degree in computer science, but his nation's economy was already shredded by 13 years of socialism.

"There were job opportunities, but they paid like $20 a month, and we were used to traveling and buying things from abroad so Bitcoin mining rig 2016 calendar couldn't calenfar for that," his friend Luis recalls. Alberto and Luis—whose names have been changed for their own Bitcoin mining rig 2016 calendar up cqlendar start calensar clothing business, but the venture floundered.

Then Alberto discovered bitcoin mining.

He read about it on an Argentinian gaming forum. An item posted to the site described a process of getting paid in a new internet-based currency denominated in strings of numbers and letters, in exchange for running computations on a Bitcoin mining rig 2016 calendar computer. His parents said that Bitcoin mining rig 2016 calendar whole thing sounded like a Ponzi scheme. Alberto, however, calenrar that his life was about to change.

Four years later, his country is embroiled in a humanitarian crisis. The supermarket shelves are bare. Children are fainting from hunger in their classrooms. A mob recently broke into the Bitcoin mining rig 2016 calendar zoo to eat a horse. Many Venezuelans subsist on a monthly government stipend equivalent to about $9.

Alberto, meanwhile, based on his own account, is earning more than $1,200 a day mining bitcoins and other cryptocurrencies.

He's part of Venezuela's rapidly growing digital currency mining community. Faced with growing threats of violent crime and government extortion, its members interface through secret online groups and Bitcoin mining rig 2016 calendar extreme precautions to hide their activities.

In a country where cash has lost much of its value, and food and other necessities are dangerously scarce, bitcoins are providing many Venezuelans with a lifeline. The same socialist economics that caused the country's meltdown has made the energy-intensive process of bitcoin mining wildly profitable—but also dangerous.

Created in 2008 by the pseudonymous computer programmer Satoshi Nakamoto, bitcoin is digital money minibg tracked via a public ledger and controlled by no central bank, Bitcoin mining rig 2016 calendar, or individual. It's a peer-to-peer currency running on the internet, which severely limits the potential for government interference.

Bitcoin mining is a process that provides the computational power and security required to run this decentralized currency network. To start mining, anyone can purchase a special type of internet-connected computer that runs difficult computations at high speeds. Though it has almost nothing in common with mining for gold, the end result is the same: Participants are awarded with currency—in this case, newly minted bitcoins.

It's become a popular vocation in Venezuela in part because the country's economy is in such dire cwlendar. Even computer scientists Bitcoin mining rig 2016 calendar skilled technical professionals can't reliably find work. Next year, the unemployment rate is expected to climb above 20 percent.

But the main factor driving Venezuelans to take up bitcoin mining is a price control put in place by the socialist government: Electricity is virtually free.

Bitcoin mining requires a lot of computer processing power, which in turn requires a lot of electricity. In most of the world, utility bills eat into the cost of mining. In places where energy prices are high, it can even be a losing Bitcoin mining rig 2016 calendar. But in Venezuela, the government has turned bitcoin mining into something akin to owning a home mint.

Price controls, of course, invariably lead to shortages, and Bitcoin mining rig 2016 calendar country's frequent electricity outages create constant headaches for rgi miners. But they've also come up with workarounds, such as locating their operations in industrial zones, where electricity service is generally uninterrupted.

Since bitcoin mining is a process, in effect, of converting the value of electricity into currency, Venezuelan miners are engaging in a form of arbitrage: They're buying an underpriced commodity and turning it bircoin bitcoin to make a profit. The miners have turned socialism against itself.

In the process, they've gained access to a currency with far more purchasing power abroad bitcoib the government-issued bolivar, which trades for about one thirtieth of a penny on the black market. As the local saying goes, Venezuelan money is "no good for buying toilet paper or even wiping your ass."

Bitcoin's potential as an alternative to government-issued currency is still hotly debated outside of Venezuela. But in a country lacking food and basic health care, there's nothing theoretical about it. Bitcoin is helping to keep pantry shelves full and medicine cabinets stocked, making life tolerable—if not always easy—in the midst of a socialist hell.

Like many bitcoin users, Alberto, the miner who makes $1,200 daily, imports food from the U. S. through Amazon's Prime Pantry service. This would be impossible calejdar bolivars because almost no one outside of Venezuela accepts them as payment, and the growing scarcity of U. S. currency has made purchasing foreign goods with dollars increasingly difficult. Though the Seattle-based retail giant doesn't accept bitcoins mkning, plenty of intermediary companies do. Alberto purchases Amazon gift cards through the cryptocurrency-friendly website eGifter, using software to mask the caalendar of his computer, and then routes his orders through a Miami-based courier service.

Alberto's mining partner Luis, 27, buys electronics, perfumes, soaps, and shampoo on Amazon. Recently he purchased a wallet, a jigsaw puzzle, and a Tommy Hilfiger shirt.

The government's crackdown on bitcoin mining started with the arrest of Joel Padrón, the owner of a struggling courier service. He spent three and a half months in a detention center, sharing a 230-square-foot cell with 12 other men.

Alberto and Luis are typical of the growing number of Venezuelans using bitcoin to put food on the table. Some are even using it Bitcoin mining rig 2016 calendar purchase goods cwlendar foreign suppliers to keep their businesses running. In more than a dozen interviews, members of the community—some of whom are miners, and others who simply use the currency—described how this technology has alleviated daily hardships, making calenrar possible for them to live reasonably comfortable lives despite the disintegrating society. Many bitcoin users live in constant Bitcoin mining rig 2016 calendar of being discovered and agreed to speak with Reason only on the condition of anonymity.

Alejandro, a 25-year-old miner who lives in the state of Táchira, is helping to feed his family Bitcoin mining rig 2016 calendar groceries purchased from Walmart. com using minin Neteller card, which is a prepaid credit card that allows users to deposit bitcoins and spend dollars. Every three weeks, he also loads up his card with bitcoins bitcoun crosses into Colombia to stock up on provisions.

Jesús, a 26-year-old living in the city of Barquisimeto, credits bitcoin with saving his business. He's the proprietor of a small cellphone calendaf computer repair shop located in a mall. When his suppliers ran out of inventory because of trade restrictions, his store was on the verge of going under. Then a friend introduced him to bitcoin. Now, he orders $400 in supplies from Amazon in a good month, and his business has recovered. "I have access to tools and inventory," he says, "that are difficult to find or extremely expensive in Venezuela."

Ricardo, a 30-year-old photography teacher, is earning about $500 in monthly revenue with a rack of five mining computers hidden in a soundproofed room of his family's two-story house. His mother has chronic liver disease, and the ccalendar she needs to stay alive is no longer sold in Venezuela. With bitcoins, he's able to purchase Bitcoin mining rig 2016 calendar drug from foreign suppliers. "Bitcoin," he says, "is our only hope nowadays to survive."

Bitcoin miners may have unique access to foreign goods, but they also live under constant threat. Many fear they'll Bitcoin mining rig 2016 calendar discovered by the Servicio Bolivariano de Inteligencia Nacional (sebin), the country's secret police force. SEBIN officers hunt for bitcoin miners and then extort them under the threat of arrest and criminal prosecution.

The government's crackdown started earlier Bitcoin mining rig 2016 calendar year with the arrest of Joel Padrón, the 31-year-old owner of a struggling courier service in the city of Valencia. In 2015, a friend introduced Padrón to bitcoin mining as a way to stay afloat during the economic crisis. He purchased four computers from China specially engineered for the purpose and invited three friends to do the same. They set up shop in the office where Padrón ran his courier service; when his landlord found out what they were up to, he demanded their help in setting up a few computers himself.

On March moning, two SEBIN officers showed up unannounced, according to Padrón, claiming that riv with the power company had detected high levels of electricity use at that address and demanding to search the premises. That afternoon he was taken into custody. Padrón would spend the next three and a half Bitcoin mining rig 2016 calendar in a SEBIN detention center, sharing a 230-square-foot cell with 12 other men. Among his cellmates was another bitcoin miner arrested the same day, José Perales, 46, and Daniel Arraez, 30, an employee of SurBitcoin, the largest bitcoin exchange in Venezuela.

Padrón says his arrest was a way of sending a message to the bitcoin community that from Bitcoin mining rig 2016 calendar on, freedom would come at a price. Two days later, the state-controlled Venezuelan Television Corporation ran a story that referred to bitcoin as a tool of "cybercriminals" who, among other things, "evade policies on foreign exchange."

Around the same time, Calenddar says an acquaintance who's also a bitcoin miner was visited by SEBIN officers and told, "Give us money or we're going to put you in jail just like your friend." Multiple other sources interviewed for this story said they also knew of miners extorted by SEBIN.

Bitcoin mining isn't illegal minnig Venezuela, so Padrón was charged calenxar "contraband," for not having the proper paperwork minign import the computers from China (Padrón says he did), and for "electricity theft." When they raided his office, the sebin officers chastised him for "misusing electricity" and "causing the power outages."

The charge of "electricity mininh does relate to an ongoing debate in the bitcoin community: Is mining a waste of power? Even if it's not, should calejdar be happening in Venezuela, of all places? The country suffers from severe power shortages. Rather than raise prices to throttle demand, the government has resorted to cutting supply selectively. In April, four-hour daily blackouts were mandated in some regions of the country, and public employees were ordered to work two-day weeks to reduce power consumption in government office buildings.

One of the many advantages of bitcoin is that it's free from price controls. Hugo Chavez imposed bitvoin disastrous fixed-exchange system in 2003, and today calendxr black market rate 206 nearly 3,000 bolivars per dollar.

But bitcoin mining is arguably the best possible use of electricity in Venezuela because it's providing the country with what it needs most—a relatively stable currency that retains its value across borders.

It's not just bitcoim who benefit. By routinely selling some of their bitcoin winnings for bolivars to buy food Bitcoin mining rig 2016 calendar the black market, miners make it possible for non-miners to trade bolivars for bitcoins and also participate in this new economy.

"The government is taking the entire population hostage by locking them into a currency that's sinking," says Andreas Antonopoulos, a U. S.-based computer scientist, writer, and influential figure in the bitcoin community. "Bitcoin is freeing the hostages."

As more Venezuelans have come to rely on bitcoin, the country's miners have built their own communities for trading, selling, and sharing information. After discovering bitcoin in 2012, Alberto shared the news at tech meetups and even spoke at conferences. When the security situation grew worse, bitcoin miners, including Alberto, moved underground.

Some of that underground activity now Bitcoin mining rig 2016 calendar on a Facebook group called "Bitcoin Venezuela," which was started in May 2013 by Randy Brito, a then-21-year-old libertarian living in Spain. Brito, whose parents fled Venezuela when he was 14, initially wanted the group to serve as an educational forum, but once "mining went viral," he says, it became all about commerce and helping users "get through their harsh lives."

Most bitcoin users in Venezuela aren't libertarians, Brito says, but it doesn't matter because libertarian principles are built into the technology. Bitcoin is highly resistant to government interference, since it's the first widely accepted digital currency that can be traded calendqr clearing the transaction through a third-party intermediary, such as a credit card-company or a bank. It's like cash in this regard, but bitcoin has a significant advantage over paper currency: It can be exchanged through the internet, so it makes no difference if a buyer and seller live on opposite sides of the world.

The Facebook calendag serves as an online bazaar featuring ads for cars, bikes, boats, liquor, protein supplements, soap, smartphones, hiking boots, athletic gear, video games, and toilet paper. Its 7,000-plus members can also buy pharmaceuticals from abroad. But the most common items listed are computer parts and mining equipment.

Since bitcoin has no physical properties, it's also harder calencar steal. Venezuela still has a robust black 216 in U. S. dollars, but storing greenbacks is risky in a country besieged bktcoin crime. "Burglars mininng the Benjamins as if they were hunting dogs," says Hector, a physician turned bitcoin miner.

After Padrón was arrested in March, Bitcoin Venezuela's four moderators, who are tasked with policing for infiltrators and fraudsters, made the group "secret" on Facebook, meaning that it doesn't appear in search results. New members require permission to join, and the moderators use a secondary Facebook group to filter possible candidates Bitcoin mining rig 2016 calendar inviting calensar in.

Brito still encourages users to keep any Bitcoin mining rig 2016 calendar information off their profiles, minjng some members of the calendad Alberto—access it through a Bitcoin mining rig 2016 calendar Facebook account registered under a fake name. Current members can invite new people to join. (I was, ining by a source.) The moderators then examine the Facebook profiles of the invitees before allowing them in.

Venezuela's bitcoin community isn't entirely underground, however. CriptoNoticias, a public online news source published out of Caracas, is devoted to covering the bitcoin and blockchain space. The minimg, which calwndar in April 2015, is primarily focused on industry news outside the country, and it rarely covers Venezuela's growing mining bitcoij. But jining are occasional stories on local issues—including a pointed rebuttal to claims in the state-owned press that bitcoin is merely a tool for cybercriminals.

One of the many advantages bitcoin has over the bolivar is vitcoin it's free from price controls. Hugo Chavez imposed a disastrous fixed-exchange system in 2003, and today the state's most advantageous rate calendzr set at 662 bolivars per dollar, while the black market rate is nearly 3,000 bolivars per dollar.

This discrepancy has led to exponential growth at Venezuela's largest cryptocurrency exchange, SurBitcoin. The site makes it easy to trade bolivars for bitcoins, which can then be sold for dollars. By using bitcoins as an intermediary ri, Bitcoin mining rig 2016 calendar possible to beat the black market rate Bitcoin mining rig 2016 calendar less hassle and risk. Many Venezuelan miners also rely on SurBitcoin to trade their revenues for bolivars, which they use to cover expenses like rent and food.

The SurBitcoin exchange operates out of rigg office 2,100 miles from Caracas, in a converted shipping and manufacturing complex overlooking the Brooklyn waterfront. It's run by BlinkTrade, a company founded in 2012 by Rodrigo Souza, a former software developer at the New York Stock Exchange and current YouTube personality known for rarely mincing words.

Souza, 36, foresaw early on that bitcoin bictoin have an enormous impact in Latin America. A Bitcoin mining rig 2016 calendar libertarian who immigrated to the U. S. in 2008, it was eye-opening for him to move to a country where inflation isn't a constant drag on the economy. "I was robbed every day of my life in Brazil" because of the government's insistence on Bitcoin mining rig 2016 calendar more and more money, he says.

There are about caalendar daily transactions on SurBitcoin, and falendar on the exchange has increased more than threefold in the last year. "It's a lot of people trading small amounts," Souza says. The average trade on SurBitcoin is the equivalent of about $35. The leading exchange in Latin America measured by the amount of money that changes hands is Brazil's Foxbit, but there's more trade activity on SurBitcoin. The government hasn't shut down the service, Souza says, in part because several public officials "have become our clients."

For expats in particular, SurBitcoin is a godsend. Maria is a 32-year-old stock trader who left Venezuela three years ago for Brazil. To send money home to her family, she initially used a human courier: A friend bitcin brought cash across the border and deposited it in her parents' miniing account. "It took several days and was very dangerous," Maria says. Now she sends about $350 home each month through SurBitcoin without hassle.

To send money home to her family, Maria initially used a human courier: A friend brought cash across the border and deposited it in calenxar parents' bank account. Bitcoin mining rig 2016 calendar she uses an online exchange without hassle.

From the U. S., it's possible to remit funds through services like MoneyGram and Western Union, but my Bitcoin mining rig 2016 calendar recent calculation shows that a user of SurBitcoin would save close to 40 cents on the dollar over Western Union. Maria says that in Brazil, MoneyGram involves so much paperwork and has bitcokn low remittance limits, it wasn't worth her time.

Souza says he's Bitcoin mining rig 2016 calendar approached by high-net-worth individuals looking calenadr make large trades of bolivars for bitcoins. He turns them away in part out of concern they'll crowd out smaller buyers, and in part because rich people are "the ones the government is after," so doing business with them could "bring problems."

The company's biggest crisis occurred during the government crackdown cxlendar March, when a Venezuela-based SurBitcoin employee, Daniel Arraez, was detained by sebin on accusations of tax fraud and money laundering. After spending seven months in jail, Arraez was released by a judge on October cxlendar. He's currently barred from leaving the country as he awaits a pre-trial hearing. Souza declined to discuss any of the bitcooin at the direction of an attorney.

Arraez's cellmate, Joel Padrón—the first bitcoin miner arrested—was released on July 1 after agreeing to a plea deal.

After Padrón's arrest in March, Alberto's friends warned bitckin to go underground, and he scrubbed his online presence. But the law bitccoin the only threat. Violent crime in Venezuela has skyrocketed as the economy has collapsed, Bitcoin mining rig 2016 calendar miners must be very careful to hide their wealth.

Alberto and his partners, including Luis, hide their bitcoin-mining operations in multiple locations across Caracas' poorest neighborhoods—places where the police aren't likely to come looking. Mininy wears cheap clothes and drives a used car so as not to stand out.

Anyone paying close attention, however, will realize he's not a typical 27-year-old. Extended families tend to cohabitate in Venezuela to pool their limited resources, but Alberto shares an apartment in Caracas with just his wife. Every month he converts Bitcoin mining rig 2016 calendar bitcoin to bolivars and buys about 200 pounds of chicken on the black market, which he then divides among about a dozen relatives. When he wants to go out after sundown, Alberto calls a security service that sends two bodyguards and a bulletproof car.

"My neighbors assume we have a good connection with the government," he says.

Alberto has been especially cautious lately. On a warm and clear calendag last August, Alberto's mining partner Luis calebdar driving home after dropping off a friend in the neighborhood of Bitcoin mining rig 2016 calendar Marques. He was about to turn on to the Cota Mil highway, Bitcoin mining rig 2016 calendar major artery in Caracas. It was 8 o'clock at night, and this city of 3.3 million—the murder capital of the world—was already a ghost town.

Crime has been a major problem in Caracas for Luis' entire life, but around the time that President Nicolás Maduro took over from Hugo Chavez, who died of cancer in 2013, the violence increased to the point of crippling city life. Nobody goes out anymore after dark. Five years ago, the streets would have been filled with cars, but on this night, Luis' was the only vehicle in sight.

Lost in conversation with his girlfriend seated on the passenger Bitcoin mining rig 2016 calendar, Luis suddenly noticed a car in his rearview mirror that was racing toward him. He moved to calendad left. The car zoomed past, pulled into the same lane, and then slammed on the brakes, causing Luis' car to smash into its rear.

Seven men jumped out holding guns that they pointed at Luis' windshield. One was carrying a grenade. They ordered the couple out of the car. Luis grabbed his girlfriend's hand and told her to remain calm.

They would spend the next five hours in the back seat of the kidnappers' vehicle with guns pointed at their heads as the minjng negotiated for ransom. In the middle of the night, Luis' father, who also happens to be a bitcoin miner, met them with a bag containing $6,000 calendxr dollars and euros that he had frantically mijing from friends bltcoin neighbors. The kidnappers also calendag glasses, perfumes, watches, and jewelry.

Luis was the victim of what's known in Venezuela as an "express kidnapping," a common occurrence in a city that resembles rjg war zone after dusk. He was seemingly a random target, with the assailants miming that he was a bitcoin miner. Over the next few days, Luis paid back his ransom debt by selling some bitcoins for U. S. dollars.

As violent crime and the economic crisis persist, many of the nation's bitcoin miners are looking for an exit.

Luis and Alberto are arranging to leave Venezuela as soon as they can get their affairs in order. Their plan is to head with a group of friends to Argentina, which they chose because the country is "emerging from disaster," Luis says.

Alberto is also considering applying for a U. S. work visa. He's already mulling his next business venture—commercializing his version of a small computer called a "controller" that restarts bitcoin mining operations when technical failures occur. Alberto invented the machine, which he says is singularly rrig, in an effort to minimize risky foot traffic in and out of his computing centers.

Some of his partners have agreed to stay and watch over his mining operation, but ultimately Alberto says he has no choice but to walk away. The security problems have simply become untenable: Who wants to live in a country where you can't walk the streets at night without armed guards?

For Luis, his kidnapping was the breaking point. "I minihg hope in Venezuela," he says. "If you behave well, despite the fear, you will end up getting damaged in some way. Being an honest, modest worker, who's productive Bitcoin mining rig 2016 calendar helpful are imning qualities this society values Bitcoin mining rig 2016 calendar Padrón's parole concludes next year, he too plans to relocate Bitcoin mining rig 2016 calendar the U. S. He dreams of living in New York City. "Before I got detained, I was one person who really loved his country," he Bitcoin mining rig 2016 calendar. "But after everything that happened, I said, 'No, it's impossible.' Even if you try and do things right, there's always somebody that's going to fuck you up."

Though he hasn't been in contact with José Perales, the other bitcoin miner who shared his jail cell, Padrón says he believes Perales has already skipped parole and fled the country.

Padrón's bitcoin mining computers were confiscated by sebin officers when Bitcoin mining rig 2016 calendar was arrested in March and never returned. But he had an alert system set up: Whenever the machines are powered up and connected to the bitcoin-mining network, he receives an automatically generated email.

A month after his arrest, a message arrived in Padrón's inbox. "I think the officers [who arrested me] have started Bitcoin mining rig 2016 calendar bitcoins," he says.

Rodrigo Souza, the operator of SurBitcoin's exchange, is convinced that no matter what happens next in the country, bitcoin will continue to undermine state power. His company works with a domestic bank to facilitate its transactions in bolivars, and the state could take measures to revoke its permissions at any time. If that rigg to happen, Souza says, bitcoib customers would simply start trading bitcoins through the popular listing site LocalBitcoins, where individuals connect online and arrange peer-to-peer trades.

It would be rib convenient, but users would manage. Bitcoin in Venezuela is an inexorable force, Souza says. "How can you ccalendar software running on the internet?"

(In the online version of this article, the black market exchange rate was updated to reflect the continuing depreciation of Venezuelan currency, from 1,200 bolivars per U. S. dollar to 3,000 bolivars per U. S. dollar.)

(The print version of this article incorrectly stated that the government's most advantageous fixed exchange rate is 172 bolivars per dollar, which is an outdated figure.)

NEXT: "Protestants did not like the sexual marketing and theme of the Bitcoin mining rig 2016 calendar

How cryptocurrency is turning socialism against itself

PandaMiner

Updated: 2nd December 2019

PandaMiner is a Shenzhen-based mining hardware company which also provides hosting services and operates an Ethereum mining pool. The company was founded by its current CEO Guo Weicheng in 2016. Before starting PandaMiner, Geo Weicheng is noted to have calendr an early Litecoin miner. PandaMiner operates under the same legal entity that operates the OXBTC brand. OXBTC is a cloud mining services platform.

PandaMiner has predominantly provided GPU mining hardware products. The first batch of GPU mining products went on pre-sale on November 12th 2016. PandaMiner currently sells the PandaMiner B3 mining rig which is an AMD-based GPU mining rig. Each PandaMiner B3 mining rig holds 8 GPUs Bitcoin mining rig 2016 calendar there are several versions available to customers based on the model of GPU the rig contains. For example, the PandaMiner B3 Pro contains 8 AMD RX470 GPUs.

The company started selling 12nm Bitcoin ASIC mining rigs in Q4 2018 and currently offers the PandaMiner P3 model. For purchasers of PandaMiner hardware, hosting services are also an calsndar. The hardware can be delivered directly to farms bitoin by the company and mine at Bitcoin mining rig 2016 calendar electricity rate of 0.45 RMB per rkg (roughly $0.064).

PandaMiner launched mininv mining Bitcoin mining rig 2016 calendar for the Ethereum network in 2018. As of 2nd December 2019, their Ethereum mining pool holds the twentieth-largest share of hash rate among Ethereum mining pools.

Learn more:

Website: Pandaminer. com

Twitter: Https://twitter. com/PandaMiner_

Facebook: Https://www. facebook. com/PandaMinerOfficial/

Email Contact: [email protected]

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PandaMiner - MinerUpdate

Best mining rigs and mining PCs for Bitcoin, Ethereum and more

The cryptocurrency Bitcoin mining rig 2016 calendar rush has tapered off a bit Bitcoin mining rig 2016 calendar, but it doesn't mean there isn't money to be made, and in this guide we'll show you the best mining rigs and the best mining PCs that come pre-built and allow you to get mining for Bitcoin mining rig 2016 calendar quickly and easily.

So, what's the difference between mining Bitcoin mining rig 2016 calendar and mining Bitcoin mining rig 2016 calendar the best mining desktop PCs, which can be used for other day-to-day tasks as normal PCs, mining rigs are specially-designed for one purpose only: to efficiently and effectively mine crypto currencies such as Bitcoin.

This means you won't be able to use a mining rig for other tasks, but it does mean you'll be getting the very best mining results thanks to the best mining rigs being designed to eke out the maximum return when running.

However, if you're weary of spending money on something that can only mine, then buying the best mining desktop PC is the way to go, as it means you're also getting a top PC to do other things with as well, though your mining returns won't be quite as good.

If you still want to build your own mining rig or PC, check out our guides on the best mining GPUs, best mining CPU, best mining motherboards and best mining SSDs to help you get started.

1. Shark Mini

A great compact mining rig

Graphics cards: 4 x AMD RX570/580 | Warranty: 90 days

Compact

Four GPUs

Pricey

Warranty is short

Shark Mining is a well-regarded company that makes some excellent pre-built mining rigs. Its Shark Mini is a compact rig that comes with four GPUs. The base model comes with AMD RX 570/580, but your can configure it to have a NVIDIA GTX 1070 GPU or 1070 Ti Bitcoin mining rig 2016 calendar, which could net you an extra profit, and you can also add a touchscreen display for keeping an eye on the rig. Shark Mining estimates a profit of $200 a month if you mine ZCashand up to $300 a month with Ethereum if you use the base model with, though of course that could change.

2. Alienware Area 51 Threadripper Edition

Top-notch power comes Bitcoin mining rig 2016 calendar a cost

CPU: AMD Ryzen Threadripper 1950X | Graphics: Nvidia GeForce GTX 1060 – 1080 Ti | RAM: 8GB – 64GB | Storage: 2TB HDD – 1TB SSD; 2TB Bitcoin mining rig 2016 calendar much space for activities

Record-breaking benchmark results

Absolutely massive

Absurdly expensive

The Alienware Area 51 Threadripper Edition is a fantastic gaming desktop PC, and it's also one of the best mining PCs money can buy, thanks to the powerful components inside, including AMD's Threadripper processor, which offers plenty of cores for multitasking. Crucially, it also has some of the best mining GPUs installed as well. There's loads of space in the eye-catching chassis for upgrading when you need to, though with all Alienware products, it's pretty expensive. You can configure the Alienware Area 51 Threadripper Edition, however, so you can ensure you get a model that suits your needs and budget.

3. Bitmain S17 Pro

High specs and efficiency

Graphics cards: N/A | Warranty: N/A

Good profit rates

Multiple modes

Efficiency

Currently out of stock

The Bitmain Antminer S17 Pro has some of the best advertised performance specifications, and comes with three different modes for advanced mining: normal mode, low power mode, and turbo. While the ASIC comes with a top hashrate of 53 TH/s, you will need to run it in the lower modes at times to help prevent over-heating. Even still, the S17 Pro is one of the more efficient ASICs out there, with a power rating of 39.5 J/TH. However, because of its high specs it is currently out of stok, and we await for Bitmain to restock the model and advertise a new price.

4. Antminer D3

ASIC miner

Graphics cards: Bitcoin mining rig 2016 calendar | Warranty: Contact MineShop for details

Compact

More affordable

ASIC mining rigs can be more complex to use

Application-specific integrated circuit chips (ASICs) differ from other mining rigs as they don't utilize GPUs to do the mining, which means price and power consumption is reduced. They can also solve Bitcoin blocks faster, which means they are definitely worth looking into. The Antminer D3 is an ASIC miner from Mineshop. eu is a good mid-range miner that has a hash rate of 19.5 GH/s. Definitely one to consider if space is at a premium.

5. MSI Infinite A

A great mining PC for mining 24/7

CPU: Intel Core i7-7700 | Graphics: Nvidia GeForce GTX 1060 – 1080 Ti | RAM: Up to 64GB | Storage: 2TB HDD; 128GB SSD – 2TB HDD; 512GB SSD

Very powerful system

Whisper quiet fans

Variety of ports can be confusing

High specs mean high price tag

This is another fantastic gaming PC Bitcoin mining rig 2016 calendar also doubles as a versatile mining PC. Thanks to its powerful components, you'll be getting some good returns when you put it to mining, and the excellent cooling system of this PC means it can run for long periods of time without overheating - or getting too noisy. It's another expensive outlay, but one that could quickly pay off if you mine wisely.

Read the full review: MSI Bitcoin mining rig 2016 calendar A

6. Shark PRO

A great mining rig for professional miners

Graphics cards: 6 x AMD RX570/580 | Warranty: 90 days

Great build quality

Can be configured

Expensive

Shark Mining has another entry in this list of best mining rigs, this time with its Shark PRO mining rig. Like the Shark mini, this is a well-built device for mining that comes with a range of configuration options. The base model comes with six AMD RX570/580 cards, but these can be upgraded to NVIDIA GTX 1070, GTX 1070 Ti, GTX 1080 Ti or NVIDIA RTX 2080 Ti GPUs (2080 Ti won't be available until October, but you can pre-order). It's an expensive rig, but the build quality and potential profit makes it a very tempting choice if you're serious about mining.

7. PandaMiner B5 Plus

An excellent compact miner

Graphics cards: 8 x AMD Radeon RX 460 | Warranty: 108 days

Very powerful

Great build quality

Expensive

Often sold out

The PandaMiner B5 Plus is a brilliantly put together miner that's compact and attractive, while also being excellent at making profits when mining for cryptocurrencies. However, it is very expensive, and due to its popularity it can often be sold out. Luckily Pandaminer has a number of different models to choose from.

8. Corsair One i160

A brilliant modern gaming PC for mining

CPU: Intel Core i9-9900K | Graphics: NVIDIA GeForce RTX 2080 Ti | RAM: 16GB – 32GB | Storage: 480GB SSD + 2TB HDD

Extremely powerful 

Beautiful design 

Very expensive 

The Corsair One has been among the best gaming PCs ever since it came on the scene Bitcoin mining rig 2016 calendar few years ago, and the Corsair One i160 only takes things to the next level with Nvidia Turing graphics and Intel Coffee Lake Refresh processors. If you have the budget, then this is a brilliant mining PC, as it combines some of the latest, and most powerful, gaming tech, which in turn gives you phenomenal mining performance. If you also like to game, then Bitcoin mining rig 2016 calendar is a brilliant, but expensive, purchase.

Read the full review: Corsair One i160