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Bitcoin miners have had a difficult 12 months because the community’s mining problem reached an all-time excessive and the spot market worth of bitcoin dropped beneath the price of manufacturing. At present, with electrical energy prices at $0.07 per kilowatt-hour (kWh), solely 18 application-specific built-in circuit (ASIC) bitcoin mining rigs are in a position to flip a revenue at present costs.
Present SHA256 ASIC Fashions Unprofitable at $0.12 per kWh, Solely Two Units Worthwhile at $0.10 per kWh
On December 31, 2022, statistics present that bitcoin’s hash fee is hovering above the 300 exahash per second (EH/s) vary after reaching a low on December 30 at 235 EH/s. Moreover, data from macromicro.me signifies that the present price of manufacturing ($16,577) is almost equal to bitcoin’s present spot market worth ($16,572).
Macromicro.me calculates the price of manufacturing by “observing consumption of electrical energy and every day issuance of bitcoin, as offered by Cambridge College.” The Cambridge Bitcoin Electrical energy Consumption Index (CBECI) reveals BTC’s annualized consumption on Dec. 31, 2022, is 84.74 terawatts per hour (TWh). With the present mining problem at 35.36 trillion and present BTC costs at $16,572 per unit, numerous ASIC mining machines aren’t worthwhile.
As an illustration, at $0.12 per kWh, none of the present SHA256 ASIC fashions are worthwhile with electrical energy prices at that fee. At $0.10 per kWh, two ASIC units are worthwhile and might make $1.14-$2.51 per day in earnings. The highest two machines that may nonetheless revenue at $0.10 per kWh embody Bitmain’s Antminer S19 XP Hyd. with 255 terahash per second (TH/s) and Bitmain’s Antminer S19 XP with 140 TH/s.
18 ASIC Mining Rigs Worthwhile at $0.07 per kWh, Different Consensus Algorithms See Higher Income
At $0.08 per kWh, 13 totally different ASIC bitcoin mining machines can seize earnings between $0.13-$5.08 per day. The machine with the bottom earnings at $0.08 per kWh is Bitmain’s Antminer S19j Professional with 100 TH/s. At $0.07 per kWh, one other 5 machines are added to the worthwhile machine checklist with a complete of 18 ASIC mining rigs in revenue.
On the $0.07 per kWh worth, a bitcoin miner could make between $0.23 per day to $6.35 per day, relying on the machine used. Bitmain’s Antminer S19 XP Hyd. with 255 TH/s and $0.07 per kWh in electrical prices will produce an estimated revenue of round $6.35 each 24 hours.
Whereas SHA256 bitcoin mining machines are seeing fewer earnings than they have been six months in the past, machines that mine various consensus algorithms see higher earnings. The highest three consensus algorithms as we speak, when it comes to revenue, embody Kadena, Eaglesong, Scrypt, and Handshake.
What are your ideas on the difficulties that bitcoin miners confronted this 12 months? Do you anticipate that situations will enhance in 2023? Share your perspective within the feedback part beneath.
Picture Credit: Shutterstock, Pixabay, Wiki Commons
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