45 Older-Generation Bitcoin Miners Are Unprofitable After the Reward Halving

On May 11, the Bitcoin network experienced its third block reward halving, which the 12.5 had hacked BTC Reward for 6.25 coins after the event. It has passed almost a week later, and data from mining equipment profitability websites shows that over 45 older-generation devices are not currently profitable at today's Bitcoin exchange rates.

After May 11, many older generation Bitcoin mining rigs bit the dust

Recent research analyzes by 8btc columnist Vincent He and cryptocurrency mining operation F2pool show that around 45 older mining devices have been shut down overnight since the reward was halved. Statistics from the web portal Asicminervalue.com, Also state that the 45 miners estimate is based on the electricity price of 0.35 Chinese yuan per kilowatt hour (kWh), or $ 0.049.

In this article we used data from Asicminervalue.com as well as F2pool and 8Btc mining rig reports. With Asicminervalue.com we have referenced machines at today's exchange rate and at two different electricity costs ($ 0.02 and $ 0.05 per kWh).

The best mining device from the full line of “unprofitable” mining equipment would be Bitmain's Antminer S11 (20.5 TH / s), which still loses $ 0.09 a day at $ 0.049 per kWh. Other machines that do not make profits at this speed are the Bitfury Tardis, the Antminer S9 SE, the GMO Miner B2, the Innosilicon T2 Turbo, the Bitfily Snow Panther B1, the Canaan Avalonminer 921 and the popular Antminer S9. Data shows that Bitfurys B8, launched in 2017 at 49 TH / s, suffered a low loss of more than $ 3 per day at $ 0.049 per kWh.

Blockchain.com statistics show the total on May 15, 2020 BTC The hash rate was approximately 110 exahash per second (EH / s).

According to Vincent He, "the electrical charge of an S9 with an electrical charge of 0.3 Chinese yuan per kWh can make up 140% of the total cost." The Chinese mining company F2pool conditions::

Only when the price of Bitcoin rises to $ 15,000 can Antminer S9 pay the costs. In the past, someone would buy S9 even if there was a mining disaster and the price of the mining machine went down. Most of the recipients are owners of large mining companies. When the Bitcoin price recovers, you can mine it yourself or sell it to others to make the difference.

Older generation mining equipment that is not profitable at today's exchange rate and $ 0.05 per kWh. Statistics from Asicminervalue.com show that there are 45 machines that fall into the unprofitable category BTC Priced at $ 9,700 per coin.

After the popular mining rig powered 70% of the Bitcoin hashrate, the Antminer S9 series became a tough sale

Two days ago, the crypto community finally saw the loss of SHA256 hashrate that followed the halving of the reward on May 11th. On May 11th the total was BTC Hashrate was 121 exahash per second (EH / s) and on May 15, 2020 the total hash rate is 110 EH / s. Statistics 12 hour intervals from Fork.lol show that hash power could be even lower today. These statistics would indicate that a number of operations involving older generation mining facilities are likely to have dropped out of the map.

Statistics from the Fork.lol website show that the BTC The hashrate is likely lower than the Blockchain.com record of May 15, 2020.

Now everyone knows that in miners such as China, Central Asia and Iran, some miners can get free electricity or pay just $ 0.02 per kWh. So if you take the measurement data from Asicminervalue.com and change the electricity costs to $ 0.02 per kWh, only eight mining devices are unprofitable at this energy rate. Mining equipment that cannot benefit at 2 cents per kWh includes the Whatsminer M3X, the Avalonminer 741, the Whatsminer M3, the Antminer S7-LN, the Antminer S3, the Antminer V9, the Antminer S7 and the Antminer S5. These eight machines are currently losing between $ 0.09 and $ 0.19 a day BTC Exchange rates.

Years ago, the Antminer S9 series manufactured by Bitmain was one of the most popular mining equipment on the market. It is estimated that the S9 miner (13 TH / s) performed around 70% of the work at a time BTC Hashrate. Today, the S9 series and lower from Bitmain appear to be a hard sell, according to secondary markets in China.

Vincent He's report also found that the well-known Antminer S9 lost value almost overnight in the secondary markets. The Chinese reporter claims that $ 100 has been removed from most people's lists and that an older generation Antminer S9 is being sold for $ 100 Chinese yuan. Years ago, the S9 made up 13 TH / s or more than 70% of the SHA256 hashrate. The report also highlights that a Sichuan province mining operator sold its small farm with 8,000 mining equipment and six transformers approximately seven days before the halving event. Owner of an 8,000 mining rig farm, Zhou Wenbo, told the columnist that the buyer was unwilling to take his older generation Antminer S9, Avalonminers, and Innosilicon Terminator 2 machines with him.

The 13 best miners of the next generation today benefit from adequate efficiencies and between 53 and 110 TH / s. These miners at today's exchange rate plus $ 0.05 per kWh of profit from $ 6 to $ 15 a day, depending on the terahash per second of the machine.

If the data changes back to $ 0.05 per kWh, there will be a large number of next generation miners who are still very profitable at today's exchange rates. This includes the Antminer S19 Pro (110 TH / s), the Antminer S19 (95 TH / s), the Whatsminer M30S (86 TH / s), the Antminer S17 (73 TH / s) and the Whatsminer M31S (70 TH / s) s). . All of these mining equipment earn between $ 6 and $ 15 a day at $ 0.05 per kWh.

What do you think of the large number of unprofitable miners of the older generation? Let us know in the comments below.

Tags in this story
8btc, Antminer S9, ASIC-Miner, Asicminervalue.com, Bitcoin, Bitmain, Blockchain.com, BTC, Kanaan, Crypto Mining, Kryptourrency, F2Pool, Fork.lol, Mining, Mining Operations, Mining Profits, Mining Rigs, S9, Secondary Markets, Vincent He, Whatsminer

Image credits: Shutterstock, Pixabay, Wiki Commons, Asicminervalue.com, Ebay, Fork.lol, Blockchain.com

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