Data Shows There’s No Profits Left for Bitcoin Miners That Can’t Obtain Cheap Electricity, Run Efficient Mining Rigs


Throughout the previous couple of weeks bitcoin’s value of manufacturing has been greater than the main crypto asset’s spot market worth and in flip, this has put large strain on bitcoin miners. On Nov. 30, 2022, statistics present if miners paying for electrical energy pay roughly $0.12 per kilowatt hour (kWh), solely three application-specific built-in circuit (ASIC) mining rigs are worthwhile. At a fee of $0.07 per kWh, earnings start to extend and information reveals 16 totally different ASIC bitcoin mining units are worthwhile with electrical prices at that fee.

At $0.12 per Kilowatt Hour, Solely 3 ASIC Miners Collect Revenue Utilizing As we speak’s Bitcoin Alternate Fee

Bitcoin miners are feeling the ache of an especially excessive problem score and far decrease bitcoin costs than a yr in the past right now. Information from signifies that the price of bitcoin manufacturing ($19,356 per unit) is rather a lot greater than the spot market worth ($16,877 per unit). This implies bitcoin miners must acquire the most cost effective electrical energy they’ll discover on planet earth, and function with essentially the most environment friendly bitcoin mining units available on the market right now.

Metrics present the world common worth for electrical energy in 2022 is $0.143 per kWh and in particular areas world wide, common companies and households can spend lower than $0.10 per kWh, and a few areas as little as $0.01 per kWh. International locations that take pleasure in low-cost electrical energy charges decrease than a U.S. nickel per kWh embody Qatar, Russia, Iran, Saudi Arabia, Venezuela, Kyrgyzstan, Cuba, Libya, Uzbekistan, and Kazakhstan.

Prime ASIC bitcoin miners on Nov. 30, 2022, at $0.07 per kWh and bitcoin costs at $16,877 per unit.

Whereas low-cost electrical energy is nice for bitcoin miners, in addition they want the simplest ASIC mining models available on the market. Statistics present that solely three ASIC miners are worthwhile if the operation has to pay $0.12 per kWh. The machines that also revenue below this electrical energy value ($0.12 per kWh) embody the Bitmain Antminer S19 XP Hyd. which boasts 255 terahash per second (TH/s), the Antminer S19 XP (140 TH/s), and the Antminer S19 Professional+ Hyd. (198 TH/s).

If {the electrical} value is slashed all the way down to $0.07 per kWh, 16 totally different SHA256-compatible ASIC machines will see a revenue, in keeping with information collected by At $0.07 per kWh, a Bitmain Antminer S19j (90 TH/s) is estimated to provide $0.21 per day in revenue. If electrical prices are reduce down even decrease at $0.05 per kWh, roughly 43 ASIC bitcoin mining rigs will see a revenue.

At that fee ($0.05 per kWh), an Antminer S19 XP Hyd. will get an estimated $9.69 per day, whereas the Ebang Ebit E12+ with 50 TH/s will produce $0.15 per day in earnings, in keeping with Moreover, SHA256 ASIC machines are the fourth most worthwhile proof-of-work (PoW) units behind algorithms like Kadena, Scrypt, and Eaglesong.

At $0.05 per kWh, PoW ASIC machines which can be suitable with these three algorithms could make an estimated $20.35 to $42.64 per day in earnings relying on the hashrate output of the particular rig. Probably the most dominant two manufacturers available on the market right now, by way of high-powered, next-generation bitcoin miners, embody Bitmain’s Antminer collection and Microbt’s Whatsminer collection.

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