The year marked a record high in difficulty, with the spot market price of Bitcoin falling below the cost of production. Today, electricity costs $0.07 per kilowatt-hour (kWh), and there are only 18 application-specific integrated circuit (ASIC) Bitcoin mining rigs that can turn a profit at the current price.
Current SHA256 ASIC models break even at $0.12/kWh, only 2 devices break even at $0.10/kWh
Dec 31, 2022 The statistic shows that Bitcoin hash rate hovered above the 300 exahash per second (EH/s) range after reaching a low of 235 EH/s on December 30. doing. Additionally, data from macromicro.me shows that the current cost of production ($16,577) is roughly equal to the current spot market value of Bitcoin ($16,572).
Macromicro.me calculates production costs by “observing the consumption of electricity and the daily issuance of bitcoin, provided by the University of Cambridge.” The Cambridge Bitcoin Electricity Consumption Index (CBECI) shows BTCannual consumption on 31 December 2022 at 84.74 terawatt hours (TWh). increase. With the current mining difficulty of 35.36 trillion and the current price of BTC at $16,572 per unit, many ASIC mining machines are not profitable.
For example, none of his current SHA256 ASIC models at $0.12 per kWh are profitable at that rate for electricity. At $0.10 per kWh, two of his ASIC devices can make a profit, making a profit of $1.14 to $2.51 per day. The top two machines profitable at $0.10 per kWh include Bitmain’s Antminer S19 XP Hyd. At 255 terahashes per second (TH/s), Bitmain’s Antminer S19 XP has 140 TH/s.
18 ASIC mining rigs profit at $0.07 per kWh, alternative consensus algorithms yield better profits
$0.08 per kWh, 13 different ASIC bitcoin mining machines can earn between $0.13 and $5.08 per day. The lowest profit machine at $0.08 per kWh is Bitmain’s Antminer S19j Pro at 100 TH/s. At $0.07 per kWh, 5 more machines have been added to the profitable machine list for a total of 18 profitable ASIC mining rigs. At a value of $0.07 per
kWh, Bitcoin miners can earn between $0.23 and $6.35 per day depending on the machines they use. Bitmain’s Antminer S19 XP Hyd. 255 TH/s with an electricity price of $0.07 per kWh would estimate a profit of about $6.35 every 24 hours.
SHA256 bitcoin mining machines are making less money than they were six months ago, but machines mining different consensus algorithms are making more money. The top three consensus algorithms for today’s profit include Kadena, Eaglesong, Scrypt, and Handshake.
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