Changing Dynamics in the World of Bitcoin Mining

bitcoin mining

Purchasing Cryptocurrency Mining Hardware in a Bear Market

The bear market presents a prime time to purchase cryptocurrency mining hardware. I recently scored a fantastic deal on some Bitcoin mining equipment and wanted to share the story with the fellow miners of my channel, The Hobbyist Miner.

The Bounties of the Bear Market

While the bear market can be somewhat disheartening for cryptocurrency investors, it offers an excellent opportunity for miners. The decrease in the value of various cryptocurrencies means that the hardware needed for mining is also more affordable. The key to benefiting from the bear market’s bounties is faith; a belief that the market will become bullish in the future. Coinbase predicts that even though there’s no set time for economic cycles in crypto, the shift back towards a bull market could happen within the year.

The Mining Hardware: Bitmain Antminer L3++

My recent acquisition consists of two pieces of hardware: Bitmain Antminer L3 pluses. I picked it up at discounted prices, making the purchases worth it, even with the grime and dirt it came with. The Antminer L3++ is a submodel, specifically the 580 model, which can enhance EFICIENCY when installing Hive OS firmware on them.

Sponsored by

This video wouldn’t be possible without the generous sponsorship from, the leading hash power marketplace, and home for millions of GPU and ASIC miners. Nicehash is making strides to help alleviate high mining costs by developing ways to bolster miners’ profits. They’ve introduced a new solo mining concept called “Catch the Block” that promises to bring a unique twist to the crypto mining process.

Usage of Bitmain Antminer L3++

So what do these machines do? The Bitmain Antminer L3++ allows me to mine more Dogecoin and Litecoin. The primary goal was to enhance my “bags” of these digital currencies. While the L3 pluses fall short of the L7 models in profitability—given the latter produces higher amounts of Dogecoin and Litecoin—the goal was not to match the L7, but rather, to buy affordable machines to boost my horde of Dogecoin and Litecoin.

Choosing the Right Power Supply

For my mining ambitions, the L3++ came furnished with a Bitmain power supply unit, the APW3++, which supplies 1600W. The challenge here was the excessively loud noise it produced. The solution I proposed involves swapping the power supply with an HP server power supply that supplies 1200W. I had to consult with more experienced miners about whether this would suffice.

Purchases from eBay And Upgrades

The other machine I bought was off eBay, which came with brand new fans, unlike the fans of the other machine, which had a significant amount of wear and tear. The cleaner hashboards and new fans improved the machine’s efficiency significantly, demonstrating the importance of maintenance and upgrades.

Planned Upgrades

The next set of planned upgrades include installing Noctua fans that offer the promise of lower power consumption and less noise. However, the L3++ does have a safeguard that checks the RPMs of fans. To utilize the Noctua fans, it requires installing Hive OS firmware or Blister firmware on the L3++ mining machines and setting it to immersion mode.

Octo Miner 500 Giveaway Promo

In recognition of this significant step for the Hobbyist Miner channel, I joined Octo Miner in a giveaway promo partnership involving 9 other YouTubers. We aim to give away ten prizes to ten lucky winners. Each YouTuber will provide a custom design t-shirt with only 50 shirts available per design.

A portion of the proceeds from the campaign goes to the Water Project, a non-profit that provides reliable water projects to communities in sub-Saharan Africa lacking clean water and sanitation. The contest runs from November 1st to November 29th, and on November 30th, we will announce the winners randomly in a YouTube live stream.

Remember to pursue mining deals in the bear market, it’s prime shopping time!

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About the Author: Mike Izzo


  1. I am like a kid on Christmas Morning with this New Mining Hardware! Love the Feeling! Have you purchased any Bargin Hardware Deals Recently? Have you OR are you Running any L3+s?

  2. Stop promoting that nicehash gambling shit. You are making gamblers out of miners. I spent over 200$ I got NOTING, not even one block. PEOPLE be aware nicehash solo mining is pure gambling scam, it is worse then gambling.

  3. piece of advice you can pick up antminer a3 dirt cheap and you get a control board and extra white jumper cables. its a good idea to have extra of these. I find that you blow out a control board way before you have other issues. also a tiny sd card with files for the different settings is good to flash for summer time with heat made them run cooler. I dont recommend going into app to fine tune each individual chip just not time/cost effective. definetly get yourself some shrouds that cover the fan and the top part to capture the heat and some noise coming out. makes a huge difference. best of luck

  4. Test is not valid as your ambient temps climbed through each one causing the miner to need more airflow. I get you weren't going for super accuracy, but just throwing it out there.

  5. The APW5 is a 2600 watt Bitmain PSU designed for noise reduction – originally paired with the Antminer R4 ASIC miner, designed for residential use. It would easily power two L3s on 240 volts.

  6. I run all my older ASICs with server power supplies. So yes definitely do that. I’ve had both Bitmain and Chinese third party PSUs catch fire after several years of running. They aren’t nearly as good as more recent Bitmain PSUs

  7. Thx for this video !!! Lol I will be looking for one l3++ now !!!. Super nice project with swapping fans. Can't wait for part 2 video when upgrading fans and firmware !!! Keep up good work

  8. Would love to see what's the best effiency you can get using hive on
    I belive give on pre set has 504mh for 660w and Some ppl claim to get 530 mh for 630w by manually tuning it. I wonder if this is possible
    I think that's something the hobbyist miner need to mess with 👀

  9. Have 2 L3++ sitting on hive ASIC OS waiting for prices to increase…. with FTX folding and many other exchanges sending out notices about limited conversion/withdrawal… hoping for the best..

  10. I did that too, but can’t run POW equipment in CA off solar, BUT I can RUN ON FLUX!
    I bought the dip and have 3 Nimbus nodes to set up now!!

  11. THM the local unit maybe dirty but it comes with the OEM PSU I like that, also the local unit noise level sounded lower to me don’t know why your dB meter did not reflect that, keep a close eye on the HW errors .. 50-90 a day is ok lower is better 0 is perfect .. too much HW errors is an indication one or more ASIC chip is not doing well, still the L3’s are all tanks solid little miners .. great space heaters too.

  12. Yes you can run the ASIC on the 1200w HP as long as you are on 240. On 120 it will not be stable since they only do 900w. I really dont think the noctuas will move nearly enough air to cool the boards, but good luck man. Bring a fire extinguisher

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