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

During the past fewer weeks bitcoin’s outgo of accumulation has been higher than the starring crypto asset’s spot marketplace worth and successful turn, this has enactment monolithic unit connected bitcoin miners. On Nov. 30, 2022, statistic amusement if miners paying for energy wage astir $0.12 per kilowatt hr (kWh), lone 3 application-specific integrated circuit (ASIC) mining rigs are profitable. At a complaint of $0.07 per kWh, profits statesman to summation and information shows 16 antithetic ASIC bitcoin mining devices are profitable with electrical costs astatine that rate.

At $0.12 per Kilowatt Hour, Only 3 ASIC Miners Gather Profit Using Today’s Bitcoin Exchange Rate

Bitcoin miners are feeling the symptom of an highly precocious trouble standing and overmuch little bitcoin prices than a twelvemonth agone today. Data from macromicro.me indicates that the outgo of bitcoin accumulation ($19,356 per unit) is simply a batch higher than the spot marketplace worth ($16,877 per unit). This means bitcoin miners request to get the cheapest energy they tin find connected satellite earth, and run with the astir businesslike bitcoin mining devices connected the marketplace today.

Metrics amusement the satellite mean terms for energy successful 2022 is $0.143 per kWh and successful circumstantial regions astir the world, mean businesses and households tin walk little than $0.10 per kWh, and immoderate areas arsenic debased arsenic $0.01 per kWh. Countries that bask inexpensive energy rates little than a U.S. nickel per kWh see Qatar, Russia, Iran, Saudi Arabia, Venezuela, Kyrgyzstan, Cuba, Libya, Uzbekistan, and Kazakhstan.

Top ASIC bitcoin miners connected Nov. 30, 2022, astatine $0.07 per kWh and bitcoin prices astatine $16,877 per unit.

While inexpensive energy is bully for bitcoin miners, they besides request the astir effectual ASIC mining units connected the market. Statistics amusement that lone 3 ASIC miners are profitable if the cognition has to wage $0.12 per kWh. The machines that inactive nett nether this energy outgo ($0.12 per kWh) see the Bitmain Antminer S19 XP Hyd. which boasts 255 terahash per 2nd (TH/s), the Antminer S19 XP (140 TH/s), and the Antminer S19 Pro+ Hyd. (198 TH/s).

If the electrical outgo is slashed down to $0.07 per kWh, 16 antithetic SHA256-compatible ASIC machines volition spot a profit, according to data collected by asicminervalue.com. At $0.07 per kWh, a Bitmain Antminer S19j (90 TH/s) is estimated to nutrient $0.21 per time successful profit. If electrical costs are chopped down adjacent little astatine $0.05 per kWh, astir 43 ASIC bitcoin mining rigs volition spot a profit.

At that complaint ($0.05 per kWh), an Antminer S19 XP Hyd. volition get an estimated $9.69 per day, portion the Ebang Ebit E12+ with 50 TH/s volition nutrient $0.15 per time successful profits, according to asicminervalue.com. Furthermore, SHA256 ASIC machines are the 4th astir profitable proof-of-work (PoW) devices down algorithms similar Kadena, Scrypt, and Eaglesong.

At $0.05 per kWh, PoW ASIC machines that are compatible with those 3 algorithms tin marque an estimated $20.35 to $42.64 per time successful profits depending connected the hashrate output of the circumstantial rig. The astir ascendant 2 brands connected the marketplace today, successful presumption of high-powered, next-generation bitcoin miners, see Bitmain’s Antminer bid and Microbt’s Whatsminer series.

What bash you deliberation astir the electrical costs bitcoin miners wage and the realized profits they spot aft obtaining inexpensive energy and leveraging high-powered, next-generation ASIC mining rigs? Let america cognize what you deliberation astir this taxable successful the comments conception below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, editorial photograph credit: asicminervalue.com

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