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Cryptocurrency Mining Transition to Cloud

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Cryptocurrency Mining Transition to Cloud ( cryptocurrency-mining-transition-cloud )

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(IJACSA) International Journal of Advanced Computer Science and Applications, Vol. 6, No. 9, 2015 Limitations:   D. goes below these costs the profits will turn negative and rig should turn off. Though BTC FPGAs are easily synthesizable, they Revenue per GH/s vs. Energy costs [8] consume high power than typical FPGAs. FPGAs are good for low quantity production, otherwise cost per product increases with the required quantity increment which less efficient than its competitors like ASICs. ASIC (Application Specific Integrated Circuit) Mining coins with time became hard to come by with the upgraded machines available at cheaper prices made huge competition among the miners to achieve more gains through mining. FPGAs designed for mining purpose though are flexible to program and manufacture, consumes a lot of power against the return it gets. With the use of ASICs for mining, these offered an improved performance than FPGAs when used for large scale mining. ASICs are a logical progression of this trend: circuits are specifically designed to calculate hashes as fast as possible, while consuming as little energy as possible. The best ASICs on the market today are capable of well over 1,000 Mhash (1 billion hashes) per joule of energy. Fig. 1. TABLE I. NAME CORE i7 950 500K M BLOCK PERFORMANCE CHARACTERISTICS OF VARIOUS MACHINES [9] The above graph also suggests that ASICs have the highest returns/capital spent on energy requirement in comparison to the other three mining systems. ASICs are Application Specific Integrated Circuits used for various types of specified applications. They are microchips built for single purpose though its applications are implemented in various fields. Bitcoin ASICs which are designed specifically to mine Bitcoins, are good at complex mathematical tasks that mining needs, as fast and efficiently as possible. Although FPGAs dominated only a short time, its development efforts served as a quick stepping stone to ASICs. ASIC Verilog are similar to FPGA Verilog in its design and implementation that came before it. The general comparison between ASICs, FPGAs, GPUs and CPUs against various parameters is shown below: TYPE CPU CPU GPU GPU FPGA ASIC ASIC HASH POWER RATE ’P’ COST ‘R’ (WATTS) ‘E’ ($) 18.9 150 0.126 350 1.6 6.5 0.31 169 101.0 110 0.918 45 214.5 108 1.95 80 5.0 5.0 1 189 600000.0 350 1714 2196 333.0 2.55 130 34.99 IV. PROFITABILITY ENERGY EFFICIENCY (Mhash/S) (Mhash/J) Advanced ASICs in the present market are capable of Atom N450 ATI 4850 ATI 5770 DIGILENT NEXYS 2 producing more than or equal to 1,000Mhash per joule of energy consumed. An ASIC Ant-Miner S5 costing up to $370 typically gives 1957Mhash/J and consumes around 590 Watts, which makes ASICs the most profitable privately owned machine available in the market for mining as of today. ONARCH BPU 600 C The disadvantages faced through ASICs is its cost and the speed with which the entire field is developing. The pace with which the field is updating with improved hardware achieving high hash rates than previously designed economically makes the ASIC mining profitable only for a short period of time ERUPTER SAPPHIRE until a new machine with higher performance emerges. Due to its obvious advantages when compared to the other mining machines available, ASICs are currently reigning the mining field with their performance, though it remains to be seen how much it will withstand and sustain with the ever emerging improved machines. [2][8] III. Profitability is a major criterion when we consider performing Bitcoin mining operations. The profitability of mining depends on factors like:  The initial cost of the mining rigs like the ASICs  The hashing rate of the machine   The cost of electricity consumption.  The current and future value of Bitcoins. A traditional mining technique requires miners to purchase large and multiple highly powered ASICs machines to The total network hashing power and the current difficulty of hashing problems. COMPARISON OF HARDWARE Mining machines characterize the whole mining process with their action and output. Mining difficulty and mining profitability are dependent on the machines used at the respective times in the history of mining. Figure 1 shows the revenue per GH/s that bit coin network generated since 2010. The horizontal lines depict the energy costs per GH/s of CPU‘S, GPU‘S, FPGAS and ASICS. When revenue per GH/s www.ijacsa.thesai.org 117 | P a g e

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