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

by Blockchain Daily Report
December 5, 2022
in Crypto Mining
Reading Time: 5 mins read
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Data Shows There’s No Profits Left for Bitcoin Miners That Can’t Obtain Cheap Electricity, Run Efficient Mining Rigs – Mining Bitcoin News
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Throughout the previous few weeks bitcoin’s value of manufacturing has been increased than the main crypto asset’s spot market worth and in flip, this has put large stress 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 knowledge exhibits 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 At this time’s Bitcoin Alternate Price

Bitcoin miners are feeling the ache of a particularly excessive problem score and far decrease bitcoin costs than a 12 months in the past immediately. Knowledge from macromicro.me signifies that the price of bitcoin manufacturing ($19,356 per unit) is lots increased than the spot market worth ($16,877 per unit). This implies bitcoin miners must acquire the most affordable electrical energy they will discover on planet earth, and function with essentially the most environment friendly bitcoin mining units in the marketplace immediately.

Metrics present the world common value for electrical energy in 2022 is $0.143 per kWh and in particular areas all over the world, common companies and households can spend lower than $0.10 per kWh, and a few areas as little as $0.01 per kWh. Nations that get pleasure from 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.

Data Shows There’s No Profits Left for Bitcoin Miners That Can’t Obtain Cheap Electricity, Run Efficient Mining Rigs
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 sweet for bitcoin miners, in addition they want the simplest ASIC mining models in the marketplace. Statistics present that solely three ASIC miners are worthwhile if the operation has to pay $0.12 per kWh. The machines that also revenue underneath 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 right down to $0.07 per kWh, 16 totally different SHA256-compatible ASIC machines will see a revenue, based on knowledge collected by asicminervalue.com. 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, based on asicminervalue.com. 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 are 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 precise rig. Probably the most dominant two manufacturers in the marketplace immediately, by way of high-powered, next-generation bitcoin miners, embody Bitmain’s Antminer collection and Microbt’s Whatsminer collection.

Tags on this story

Antminer S19 Professional+ Hyd., antminers, ASIC machines, Asicminervalue.com, Bitcoin, Bitcoin (BTC), Bitcoin Miners, Bitcoin mining, Bitmain, Bitmain’s Antminer, BTC Mining, BTC Mining Rigs, suitable, cuba, knowledge, Eaglesong, electrical, Electrical energy, Hashpower, Hashrate, Iran, kadena, kilowatt-hour, KWh, Kyrgyzstan, Libya, metrics, Microbt’s Whatsminer, mining bitcoin, Mining BTC, mining metrics, PoW, qatar, Russia, Saudi Arabia, Scrypt, SHA256, Stats, Terahash, Venezuela

What do you concentrate on {the electrical} prices bitcoin miners pay and the realized earnings they see after acquiring low-cost electrical energy and leveraging high-powered, next-generation ASIC mining rigs? Tell us what you concentrate on this topic within the feedback part under.

Jamie Redman

Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist dwelling in Florida. Redman has been an energetic member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 6,000 articles for Bitcoin.com Information in regards to the disruptive protocols rising immediately.

Picture Credit: Shutterstock, Pixabay, Wiki Commons, editorial picture credit score: asicminervalue.com

Disclaimer: This text is for informational functions solely. It isn’t a direct supply or solicitation of a proposal to purchase or promote, or a advice or endorsement of any merchandise, companies, or corporations. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, straight or not directly, for any harm or loss triggered or alleged to be attributable to or in reference to the usage of or reliance on any content material, items or companies talked about on this article.

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