In this review I’m going to talk about the Avalon 721, which is an important addition to Bitcoin mining hardware.
Some columnists and hardware manufacturing still claim that BTCs can be mined with GPUs. Big companies like AsRock and Biostar write that their new motherboards are meant for Bitcoin GPU mining rigs. That’s wrong on so many levels!
This kind of misleading advertising created a huge confusion about Bitcoin mining. Let me start this review by reminding that Bitcoin cannot be mined using GPUs anymore. It is no longer profitable at the point that GPUs won’t even cover the cost of electricity they need to run. For GPU mining cryptocurrencies check ZCash, Ethereum,Monero etc.
The Avalon 721 Bitcoin ASIC Miner Review
The Avalon 721 is an ASIC that is being manufactured by Canaan Creative, a China-based company. The Avalon 721 was announced the 7th November 2016, and since then thousands home miners purchase it, making it the second most popular Bitcoin ASIC after the Antminer.
Here are its specs:
- Hashrate: 6 TH/s
- Power Draw: 850-1000 W
- 72x A3212 16nm chips
- PSU output pins: 8 x 6PIN PCIe power connectors
- Dimensions: 340 mm x 136 mm x 150 mm
- Operating Temperature: -5 °C to 40°C
- Net weight: 4.3 kg
The Avalon 721 can be connected to other ASICS of the same kind by using a controller adaptor, which is manufactured by Canaan too. The maximum number of ASICs per cluster is five, resulting in a total hashrate output of 30-32 TH/s.
It is worth mentioning that the power draw of the Avalon 721 was decreasing over time. It started with 1000 W, but the new upgrades made the ASIC more power-efficient.
Most beginners are concerned whether it is safe to get an ASIC. Their concerns are understandable since the volatility of cryptocurrencies is indeed scary. I do share the same concerns but on a lower degree. Personally, I am aware that investing into mining gear is risky. However, I do have my reasons to believe that cryptocurrencies are less risky than they might seem at first glance.
Let’s not dive into financial explanations here – there are many objective reasons why cryptocurrencies are more likely to become the new gold in the near future. But since we’re talking about trends and profitability, let me give you an example:
Back in December 2016, the net profit from an Avalon 721 was $37.59/month, which meant that the ROI of the ASIC was 24 months. As for today, the same ASIC model will earn you $ 103.98/month. This is due to the price of Bitcoin constantly growing due to the growing demand on the coin.
While the price of BTC fluctuates on a daily basis, its overall direction is up. It’s been like this for years and there are no objective reasons why it should change anytime soon.
Avalon 721 vs Antminer S9
Even almost two years after the Avalon 721 was released, people keep debating whether the Antminer S9 is a better option. Despite seemingly rock-solid arguments and bold claims, there is no definite winner in that contest.
You see, the Antminer S9 does outperform the Avalon 721 hashrate-wise; however, the Avalon 721 costs twice less. Crypto coins cannot be used as fiat currency for all your needs, at least not yet. Therefore, depending on your needs, investing two and half grands into cryptocurrencies might be too much. Of course you can sell the mined BTCs afterwards, but that would require additional time and dedication.
Besides that, the Avalon 721 has 16nm hardware which will more likely guarantee longer lifetime to the ASIC. The overall build quality of the Avalon 721 is better than of the Antminer S9. In addition to that, there are many positive reviews about Canaan customer service, something that cannot be said about Bitmain. Last but not least, the Avalon 721 has quieter fans than the Antminer S7/9.
All of this explains why people keep debating which one of the two giants is better. The takeaway is simple – get the one which meets your expectations; if you’re after quality, small investments and less risks, go for the Avalon 7. Otherwise, get the Antminer.
Not long ago, Canaan released a newer version of the Avalon 7 – the Avalon 741. It costs about $ 700, outputs 7.3 TH/s and can be purchased from Canaan’s official website.
Where to Buy
Avalon 721Avalon 741Official Website
The Avalon 721 is the most appealing to the small home miner who wants to obtain some BTC for small purchases. In other words, it might be considered more of a safe means to obtain Bitcoins than a passive income generator.
Nowadays it is rather complicated to purchase Bitcoins (or better said – to convert Paypal or Credit Card USD/EUR balance to BTC). The only way of purchasing BTC is through third-party exchangers – This is both risky and very costly, with fees that can easily reach the 30% mark.
Therefore, purchasing an Avalon 721 for USD and then using it to obtain BTC might be the most painless and profitable way of getting your hands on the most popular modern cryptocurrency.
Thank you for reading. As always, your comments, suggestions and questions are welcome.
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