So ASIC what is this thing I keep hearing about, well it stands for
“Application Specific Information Chip”. They are chips which are designed to do just one task very well. This makes ASICS much more efficient than using CPU and GPUs for mining.
It does tend to mean that your ASIC can only mine specific algorithms, however there are a couple of exceptions.
Once ASICs become mainstream, they tend to increase mining difficulty so become less profitable the longer they mine.
New ASIC miners are released each year, and to be on top and make sure you are making the most profit mining it is important to get the latest ASIC miners as they are released.
Generally the most profit is to be made from those who have the newest machines at the beginning.
The most well known creator of ASICs is Bitmain, but there are plenty of other players big and small.