45 Older-Generation Bitcoin Miners Are Unprofitable After the Reward Halving

On Could 11, the Bitcoin community skilled its third block reward halving, which had chopped the 12.5 BTC reward to six.25 cash following the occasion. It’s been near per week later, and knowledge stemming from mining rig profitability web sites present that greater than 45 older technology gadgets will not be worthwhile proper now at immediately’s bitcoin alternate charges.

After Could 11, Many Older-Generation Bitcoin Mining Rigs Bit the Mud

Latest analysis evaluation by 8btc columnist Vincent He and the cryptocurrency mining operation F2pool, signifies that roughly 45 older mining gadgets have been shut down in a single day since the reward halving. Statistics from the net portal Asicminervalue.com, additionally point out that the estimate of 45 miners relies on the electrical value of zero.35 Chinese language yuan per kilowatt-hour (kWh) or $zero.049 USD.

On this article, we leveraged knowledge from Asicminervalue.com, and F2pool and 8Btc’s mining rig experiences. Utilizing Asicminervalue.com we referenced machines at immediately’s alternate charge and two completely different electrical energy prices ($zero.02 and $zero.05 per kWh).

The perfect mining gadget out of the total slew of ‘unprofitable’ mining rigs can be Bitmain’s Antminer S11 (20.5 TH/s), which nonetheless loses $zero.09 per day at $zero.049 per kWh. Different machines that aren’t making income at this charge, embrace the Bitfury Tardis, Antminer S9 SE, GMO Miner B2, Innosilicon T2 Turbo, Bitfily Snow Panther B1, Canaan Avalonminer 921, and the common Antminer S9. Knowledge reveals that at $zero.049 per kWh, Bitfury’s B8 launched in 2017 with 49 TH/s, suffers a deep lack of greater than $three a day.

Blockchain.com stats present on Could 15, 2020, the general BTC hashrate was round 110 exahash per second (EH/s).

Based on Vincent He, “with the electrical cost of zero.three Chinese language yuan per kWh, the electrical cost of an S9 can account for 140% of the complete price.” The Chinese language mining operation F2pool states:

Now, solely when the value of the bitcoin rises to $15,000, can Antminer S9 cowl the price. In the previous, even when there have been a mining catastrophe and the value dump of the mining machine, somebody would nonetheless purchase S9. Most of the recipients are the house owners of enormous mining farms. When the bitcoin value recovers, they’ll mine it by themselves or promote it to others to earn the distinction.

Older-generation mining rigs that aren’t worthwhile at immediately’s alternate charge and $zero.05 per kWh. Asicminervalue.com stats present that there are 45 machines that fall into the unprofitable class with BTC costs at $9,700 per coin.

After the Well-liked Mining Rig As soon as Powered 70% of the Bitcoin Hashrate, Antminer S9 Sequence Turns into a Laborious Promote

Two days in the past, the crypto neighborhood lastly might observe the lack of SHA256 hashrate that adopted the reward halving on Could 11. On Could 11, the general BTC hashrate was 121 exahash per second (EH/s) and on Could 15, 2020, the general hashrate is round 110 EH/s. Nevertheless, statistics from Fork.lol’s 12-hour intervals present the hashpower might be even decrease than that immediately. These statistics would point out that plenty of operations that leverage older-generation mining rigs, possible fell off the map.

Stats from the web site Fork.lol reveals that the BTC hashrate might be decrease than the Blockchain.com recording on Could 15, 2020.

Now everybody is aware of that in locations like China, Central Asia, and Iran, some miners can get free electrical energy or pay as little as $zero.02 per kWh. So taking metrics from Asicminervalue.com and altering the electrical price to $zero.02 per kWh, signifies that solely eight mining rigs are unprofitable at that power charge. Mining rigs that can’t revenue at 2 cents per kWh embrace the Whatsminer M3X, Avalonminer 741, Whatsminer M3, Antminer S7-LN, Antminer S3, Antminer V9, Antminer S7, and the Antminer S5. These eight machines are dropping wherever between $zero.09 to $zero.19 per day respectively at present BTC alternate charges.

Years in the past the Bitmain made Antminer S9 sequence was considered one of the hottest mining rigs on the market and estimates say at one time, the S9 miner (13 TH/s) powered round 70% of the BTC hashrate. Right this moment, Bitmain’s S9 sequence and decrease appear to be a tough promote in response to secondary markets in China.

Vincent He’s report additionally notes that the well-known Antminer S9 had additionally dropped in worth on secondary markets nearly in a single day. The Chinese language reporter claims that $100 has been faraway from most individuals’s listings and an older technology Antminer S9 will promote for 100 Chinese language yuan (about $14). Years in the past, the S9s with 13 TH/s or above accounted for greater than 70% of the SHA256 hashrate. The report additionally highlights mining operation proprietor from the Sichuan province bought his small farm with eight,000 mining rigs and 6 transformers roughly seven days previous to the halving occasion. The eight,000 mining rig farm proprietor, Zhou Wenbo, informed the columnist that the purchaser was not keen to take his older technology Antminer S9s, Avalonminers, and Innosilicon Terminator 2 machines.

The highest 13 next-generation miners are profiting immediately if they’ve correct effectivity scores and between 53-110 TH/s. These miners at immediately’s alternate charge, plus $zero.05 per kWh revenue by 6-$15 per day relying on the machine’s terahash per second output.

If the knowledge is modified again to $zero.05 per kWh once more, there’s a large number of next-generation miners which are nonetheless very worthwhile at immediately’s alternate charges. This contains the Antminer S19 Professional (110 TH/s), Antminer S19 (95 TH/s), Whatsminer M30S (86 TH/s), Antminer S17 (73 TH/s), and the Whatsminer M31S (70 TH/s). All of those mining gadgets make between $6-15 per day at $zero.05 per kWh.

What do you concentrate on the giant variety of unprofitable older technology miners? Tell us in the feedback under.

Tags on this story
8btc, Antminer S9, ASIC miners, Asicminervalue.com, Bitcoin, Bitmain, Blockchain.com, BTC, Canaan, crypto mining, Cryptocurrency, F2Pool, Fork.lol, mining, Mining Operations, Mining Income, mining rigs, S9, Secondary Markets, Vincent He, Whatsminer

Picture Credit: Shutterstock, Pixabay, Wiki Commons, Asicminervalue.com, Ebay, Fork.lol, Blockchain.com

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