The price of bitcoin has dipped a hair in value this past week,
but the crypto asset is still up 14.4% over the course of the last
month. Statistics show that Bitcoin’s hashrate has seen a resurgence and
because bitcoin’s price has increased, mining profitability and
hashrate has followed suit. Today’s top bitcoin mining rig is Microbt’s
Whatsminer M30S++ (112 TH/s) but with higher bitcoin profits, older
machines like Bitmain’s Antminer S9 have seen a revival as every S9
model is profitable today.
Higher Bitcoin Prices Create Resurrection of Old Mining Rigs, Outdated Miners See New Life
The
price of bitcoin has dipped a hair in value this past week, but the
crypto asset is still up 14.4% over the course of the last month.
Statistics show that Bitcoin’s hashrate has seen a resurgence and
because bitcoin’s price has increased, mining profitability and hashrate
has followed suit. Today’s top bitcoin mining rig is Microbt’s
Whatsminer M30S++ (112 TH/s) but with higher bitcoin profits, older
machines like Bitmain’s Antminer S9 have seen a revival as every S9
model is profitable today.
New Generation Models Rake in $20 to $29 per Day
The end of August is approaching and over the last month, bitcoin (BTC) prices have increased a great deal. Currently, BTC is over 14% higher in value than it was 30 days ago and this has elevated mining rig profitability.
At the time of writing, there’s 124 exahash per second (EH/s) of SHA256 hashrate dedicated to the BTC chain. BTC’s hashrate has risen dramatically after sliding to a low of 69 EH/s on June 28, 2021. Today’s BTC
prices mean that a great majority of mining rigs are showing profits
even after subtracting the cost of electricity and dealing with today’s
mining difficulty.
As mentioned above, the 112 terahash per second (TH/s) model crafted by Microbt, the Whatsminer M30S++, is currently profiting by $28.77
with an electrical cost of around $0.12 per kilowatt hour (kWh). Most
bitcoin miners today spend much less than $0.12 per kWh if they are
located in regions with cheap power.
The second most profitable mining machine today is Bitmain’s Antminer
S19 Pro (110TH/s) as the mining rig can get up to $28.72 per day in
profits using the same electrical cost rate. Microbt and Bitmain
manufacture the most profitable bitcoin miners on the market today, and
the firm Canaan’s products follow behind the two manufacturing giants.
Old Miners Become Profitable Again
Of course, new generation application-specific integrated circuit
(ASIC) models with the latest semiconductors can see daily profits
mining BTC
between $10 to $25 per day if they are using 100 TH/s units down to 50
TH/s units. If the $0.12 per kWh is cut in half to $0.06 then a great
number of rigs can make close to double these rates.
It also means older ASIC machines are profitable today as machines
that process less than 50 terahash can pull in small fractions of daily BTC. For instance, the Innosilicon T2 Turbo with 25 TH/s can get around $3 per day using today’s BTC exchange rates and $0.12 per kWh.
The old GMO B2 miner that launched in 2018 with 24 TH/s can make
around $2.69 per day in profits. At $0.12 per kWh, the Canaan
Avalonminer 921 processes around 20 TH/s, and an owner of this rig can
get $2.03 per day. Bitmain’s popular mining rig the S9 at one time was
estimated to power around 70% of the BTC hashrate.
Bitmain’s S9 models saw a resurrection
in November 2020 and this month, all S9 models are once again
profitable. In fact, they are more profitable than they were back in
November 2020, when S9 models made between $0.10 to $0.59 per day in
profits.
On August 30, 2021, using today’s BTC
exchange rate and electrical consumption of around $0.12 per kWh, S9
models between 11.5 TH/s to 16 TH/s can get around $0.74 to $1.85 per
day. Of course, the 16-terahash Bitmain Antminer S9 SE is the most
profitable S9 model. Other older mining models produced by companies
like Bitfury, Bitfily, Ebang, Halong, and more, are seeing profits at
today’s BTC prices.
Moreover, one would think that the best SHA256 coin to mine is BTC but on Monday, SHA256 blockchains such as Bitcoin Cash (BCH), Bitcoinsv (BSV), and Ecash (XEC) are seeing higher mining profits. Coin Dance statistics show that it is currently 2.9% more profitable to mine bitcoin cash (BCH) today, and 11.3% more profitable to mine on the Bitcoinsv (BSV) blockchain. Ecash (formally BCHA or Bitcoin ABC) is 10.7% more profitable to mine than bitcoin (BTC) on Monday.
source link : https://news.bitcoin.com/higher-bitcoin-prices-create-resurrection-of-old-mining-rigs-outdated-miners-see-new-life/
