ASICs profitability ranking for Litecoin

About Litecoin

Litecoin (LTC) is among the most popular cryptocurrencies and is approaching the market leaders – Bitcoin and Ether – in terms of capitalization. It is one of the most stable altcoins, in which both ordinary users and large institutional investors are investing. The coin has significant potential and is far from exhausting its potential. For this reason, more and more miners are switching from bitcoin to litecoin or choosing this coin as an alternative investment tool.

LiteCoin mining is not as energy intensive as BTC mining. At the same time, blocks are mined much faster, which means a shorter payback period for the equipment (with a favorable combination of other parameters). The Litecoin network uses a simpler algorithm than Bitcoin to confirm transactions and form a new block. This cryptocurrency is highly adaptive and scalable. Litecoin can be mined on CPUs (central processing units), GPUs (video cards) and ASIC miners.

Let's find out what are the advantages of mining LTC on integrated circuits, how to choose the right device for mining and what ASICs for Litecoin is among the best in 2022.

Peculiarities of mining Litecoin on ASICs

Over the past year, there has been a steady increase in the hash rate of Litecoin. This is direct evidence of the increased activity of miners who are mining LTC coins on various devices.

The choice of users is explained by objective factors:

• LiteCoin blockchain works on the Scrypt protocol – this algorithm is considered the most secure;
• high speed of transaction processing and confirmation;
• the total number of LTC coins – is 84 million, which is four times more than the number of BTC;
• an altcoin is in steady demand on any cryptocurrency exchange;
• there are many projects based on Litecoin, including Crypto Bar, Cryptex;
• The main task that the network solves is to make the blockchain more simple, practical and convenient for ordinary users.

Mining Litecoin on processors and video cards still takes place and brings some income, but progressive miners use more advanced equipment – ASICs, devices based on integrated circuits.

The possibility to mine Litecoin on Asics appeared relatively recently when more powerful new generation equipment appeared on the market. To engage in mining on integrated circuits, you will need to purchase a device, install special software, and connect to the mining pool – a community of miners. Mining litecoin on your own is a very expensive and not very promising business.

Once you connect your computer and ASIC-miner to your network, the process of calculating blocks and minting coins will be done automatically – you just need to monitor the system's performance and its proper operation.

How to choose an ASIC for LTC mining

Before you purchase the devices for mining, it's worth learning a few basic rules:

• only those miners that are set up to work with the Scrypt Proof-of-Work algorithm are suitable for litecoin mining;
• be sure to pay attention to the hash rate of the equipment – this parameter directly affects the speed of computational operations, and your income depends on it;
• calculate the power consumption figures and the amount of generated heat, to understand whether the electricity costs will be too high, or whether it will be necessary to organize an additional cooling system in the apartment;
• the size and weight of the asic-miner – are quite important parameters, especially for those who are setting up a farm at home and have limited free space.

Keep in mind that ASIC manufacturers do not often release new models for the Scrypt algorithm because bitcoin and Ethereum machines are more in demand on the market. When buying equipment for litecoin mining, you should focus not only on new hardware but also on the secondary market. Here you can find great options in terms of price and performance – provided you have at least a basic understanding of mining hardware.

Best ASICs for LTC mining

Here are the top 3 best Asics for Litecoin in 2022.

1. Antminer L3+. Model from the manufacturer Bitmain is a kind of a legend in the field of mining. The modification is used for mining coins on the Scrypt protocol for more than 5 years and is still profitable. Performance (hash rate) – 504 Mh/s, power consumption – 800 W. Weight – about 6 kg. Profitability level varies around a few dollars, but it all depends on the market situation and the cost of electricity in your area.
2. A6 LTCMaster. This model was released by the manufacturer Innosilicon in 2018. The hash rate is at 1.23 Gh/s, which brings a higher income than the previous asic-miner. However, the device will cost more – now its average price in the Russian market is 230 thousand rubles. To calculate the objective payback period is quite difficult because of the cost of electricity and the price of the coin itself – the values are variable.
3. Antminer L7. The latest model from Bitmain 2021, is designed specifically for mining litecoin. At the moment (2022) it is the most efficient miner for blockchain, working on the Scrypt algorithm. It produces a hash rate of up to 9.5 Gh/s, which increases the profitability of the equipment by an order of magnitude. The L7 has only one disadvantage – a high price (from 1 million rubles and higher). In addition, it is difficult to order the model, because the supply of the manufacturer is not constant.

Results

Litecoin – is a promising cryptocurrency for mining, but the mining equipment for this coin requires certain investments. Before investing in asic-mainers, it is worth studying the reviews of real users about the models you are going to buy. Another option is to ask professionals for advice on choosing, purchasing, setting up the equipment and connecting to a pool.