Against the current crypto market, older Bitcoin (BTC) Mining installations are struggling. They are finding it increasingly difficult to generate positive income. As a result, they now risk being taken offline in a major shutdown.
Old machines no longer yield anything at current prices
It is not entirely unexpected that older devices are now having trouble with this. It mainly concerns machines such as the Antminer S11 and AvalonMiner 921 from 2018.
For example, if you look at the performance of the Antminer S11, it has a maximum hash rate of 20.5 Terra hash per second (TH/s) and a power consumption of 1,530 Watts (W).
The costs of using such a Bitcoin miner are then approximately 0.13 kilowatts per hour (KW/h) based on global average power costs. This results in a power consumption of approximately €4.3 compared to an income of approximately €1.91 in the same period. The cost of the AvalonMiner is very similar. To leave the devices on simply costs money, instead of yielding anything. However, when the Bitcoin price is high enough, it is profitable to turn on such devices.
New machines are still profitable
It is certainly worth mentioning that this mainly concerns older machines. Many of the mainstream mining rigs now being sold new are still generating profits at current prices. While their owners may earn less than usual, they will survive the bearish market.
This concerns, for example, the newly launched ‘iPollo’s V1′. At the same prices as mentioned above, it provides a daily income of approximately €59.3, against a power consumption of approximately €8.6. The new Antminer S19 yields approximately 17.2 euros per day. Below Twittermessage gives a clearer picture here. It is not known exactly how long this bearish market will last.
💡For your information, we publish the latest list of the Shutdown Price below which crypto mining machines in this chart will have to be shut down for lack of profitability. pic.twitter.com/qxGtLjJI9l
— Bitdeer (@BitdeerOfficial) June 13, 2022