Researchers estimate that Bitcoin mining devices have an average lifespan of only 1.29 years. A well-maintained ASIC typically lasts between 3 and 5 years, although it is not uncommon for it to last longer. Mining is hard on GPUs and motherboards. They are pushed to their limits, and it all adds up.
In the pursuit of profit, cryptocurrency miners use multiple cards on a single motherboard and increase the power limit of each card. This is not fatal, but when mining cryptocurrencies you are running a GPU at full load for a long time. It stands to reason that they won't last that long. The days when anyone could successfully mine cryptocurrencies on their PCs are long gone.
Whether you're mining Bitcoin, Litecoin, DASH, or a variety of other digital currencies, an Asic miner is the most efficient method of mining crypto. Recently, ASICs have been released for Ethereum and large companies like Bitmain are constantly working on releasing faster and more efficient ASICs. Bitcoin miners earn bitcoin by charging something called the block reward plus the fees bitcoin users pay miners for securely recording their bitcoin transactions on the blockchain. Canaan was one of the first companies to produce ASIC miners for commercial use, and over the years has established a solid market presence and a strong reputation that demonstrates its expertise in the field of cryptocurrency mining.
An ASIC can be 100 times more efficient than a GPU mining machine and the most popular cryptocurrencies have ASIC farms in a network.