It is an acronym for Application Specific Integrated Circuit. It is a device designed for the sole purpose of mining cryptocurrencies. Generally, each ASIC miner is built to mine a specific digital currency. Thus, a Bitcoin ASIC miner can only mine Bitcoin.
Developing and manufacturing ASICs as mining devices is expensive and complex; but because ASICs are designed specifically for mining cryptocurrencies, they get the job done faster than less powerful computers.
There are many different brands of Bitcoin miners available, ranging in price from $20 to $5,000 depending on their power and complexity. Bitcoin is supported by millions of ASICs around the world called "miners". Bitcoin ASICs outperform both CPUs and graphics processing units (GPUs) in terms of reduced power consumption and superior computing capacity. . Bitcoin miners perform complex calculations known as hashes, and each hash has a chance of producing bitcoin. The more hash power you have, the more chance you have of earning a reward. Most people join a pool to get a more regular reward.
The website asicminervalue.com provide an income estimation of all known ASIC miners.
