Mining

Challenging Year for Bitcoin Miners as Fewer BTC Mining Rigs Are Profitable at Current Prices


Mining


Bitcoin miners have had a difficult yr because the community’s mining problem reached an all-time excessive and the spot market value of bitcoin dropped under the price of manufacturing. Presently, with electrical energy prices at $0.07 per kilowatt-hour (kWh), solely 18 application-specific built-in circuit (ASIC) bitcoin mining rigs are capable of flip a revenue at present costs.

Present SHA256 ASIC Fashions Unprofitable at $0.12 per kWh, Solely Two Units Worthwhile at $0.10 per kWh

On December 31, 2022, statistics present that bitcoin’s hash price is hovering above the 300 exahash per second (EH/s) vary after reaching a low on December 30 at 235 EH/s. Moreover, information from macromicro.me signifies that the present price of manufacturing ($16,577) is sort of equal to bitcoin’s present spot market worth ($16,572).

Presently, the price of BTC manufacturing in response to macromicro.me information exhibits the present spot market worth is near-equal.

Macromicro.me calculates the price of manufacturing by “observing consumption of electrical energy and each day issuance of bitcoin, as supplied by Cambridge College.” The Cambridge Bitcoin Electrical energy Consumption Index (CBECI) exhibits BTC’s annualized consumption on Dec. 31, 2022, is 84.74 terawatts per hour (TWh). With the present mining problem at 35.36 trillion and present BTC costs at $16,572 per unit, numerous ASIC mining machines should not worthwhile.

On the time of writing on Dec. 31, 2022, Bitmain’s Antminer S19 XP Hyd. is probably the most worthwhile bitcoin mining rig. The machine produces 255 terahash per second (TH/s) and at $0.08 per kWh, the S19 XP Hyd. could make an estimated $5.74 per day in earnings.

As an example, at $0.12 per kWh, none of the present SHA256 ASIC fashions are worthwhile with electrical energy prices at that price. At $0.10 per kWh, two ASIC gadgets are worthwhile and might make $1.14-$2.51 per day in earnings. The highest two machines that may nonetheless revenue at $0.10 per kWh embrace Bitmain’s Antminer S19 XP Hyd. with 255 terahash per second (TH/s) and Bitmain’s Antminer S19 XP with 140 TH/s.

18 ASIC Mining Rigs Worthwhile at $0.07 per kWh, Various Consensus Algorithms See Higher Earnings

At $0.08 per kWh, 13 completely different ASIC bitcoin mining machines can seize earnings between $0.13-$5.08 per day. The machine with the bottom earnings at $0.08 per kWh is Bitmain’s Antminer S19j Professional with 100 TH/s. At $0.07 per kWh, one other 5 machines are added to the worthwhile machine checklist with a complete of 18 ASIC mining rigs in revenue.

On the $0.07 per kWh worth, a bitcoin miner could make between $0.23 per day to $6.35 per day, relying on the machine used. Bitmain’s Antminer S19 XP Hyd. with 255 TH/s and $0.07 per kWh in electrical prices will produce an estimated revenue of round $6.35 each 24 hours.

Whereas SHA256 bitcoin mining machines are seeing fewer earnings than they have been six months in the past, machines that mine various consensus algorithms see higher earnings. The highest three consensus algorithms right this moment, by way of revenue, embrace Kadena, Eaglesong, Scrypt, and Handshake.


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