Bitcoin production costs have risen to major levels in recent weeks. higher than the spot market value of any cryptocurrency, which puts a lot of pressure on Bitcoin miners. According to November 30, 2022 statistics, if a miner paying for electricity he pays about $0.12 per kilowatt-hour (kWh), profitable application-specific integrated circuit (ASIC) mining rigs are only three. At a rate of $0.07 per kWh, profits start to increase, and the data shows that 16 different ASIC bitcoin mining devices are profitable at that rate of electricity bill.
At $0.12 per kilowatt hour he is the only 3 ASIC miner making a profit using today’s bitcoin exchange rate
a year ago today . Data from macromicro.me shows that the production cost of Bitcoin ($19,356 per unit) is much higher than the spot market price ($16,877 per unit). This means Bitcoin miners need to get the cheapest electricity they can find on the planet and operate with the most efficient Bitcoin mining devices on the market today.
According to indicator, the average global electricity price in 2022 will be $0.143 per kWh, and in certain regions of the world, the average business or household will have Less than $0.10 per kWh. and in some regions $0.01 per kWh. , Libya, Uzbekistan and Kazakhstan.
Cheap power is good for a Bitcoin miner, but he also needs his ASIC mining unit, the most efficient on the market. Statistics show that there are only 3 profitable ASIC miners if the operation has to pay $0.12 per kWh. Machines profitable at this power cost ($0.12 per kWh) include the Bitmain Antminer S19 XP Hyd. It boasts 255 terahashes per second (TH/s), Antminer S19 XP (140 TH/s), and Antminer S19 Pro+ Hyd. (198 TH/s).
According to data collected by asicminervalue.com, 16 different SHA256 compatible ASIC machines would benefit if electricity costs were reduced to $0.07 per kWh. At $0.07 per kWh, the Bitmain Antminer S19j (90 TH/s) is estimated to generate a profit of $0.21 per day. About 43 ASIC bitcoin mining rigs could benefit if electricity prices were further reduced to $0.05 per kWh.
At that rate ($0.05 per kWh), according to Antminer S19 XP Hyd. Estimated $9.69 per day, but $0.15 per day. Additionally, SHA256 ASIC machines are the fourth most profitable proof-of-work (PoW) devices after algorithms such as Kadena, Scrypt and Eaglesong. At $0.05 per
kWh, a PoW ASIC machine compatible with these three algorithms could make an estimated profit of $20.35 to $42.64 per day, depending on the hashrate output of your particular rig. increase. The two most dominant brands on the market today when it comes to powerful next generation Bitcoin miners include Bitmain’s Antminer series and Microbt’s Whatsminer series.
What do you think of the electricity bills bitcoin miners are paying and the profits they have realized after getting cheap electricity and leveraging powerful next generation ASIC mining rigs? Let us know what you think about this subject in the comments section.
Image Credits: Shutterstock, Pixabay, Wiki Commons; Editorial Photo Credits: asicminervalue.com