Greater Bitcoin costs are reviving previous mining rigs, out of date miners are seeing new life

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Bitcoin’s price fell a hair over the past week, but the crypto asset is still up 14.4% over the past month. Statistics show that Bitcoin’s hashrate has risen again, and as Bitcoin’s price has increased, mining profitability and hashrate have followed suit. Today’s top Bitcoin mining rig is Microbts Whatsminer M30S ++ (112 TH / s), but with higher Bitcoin profit, older machines like Bitmain’s Antminer S9 have seen a revival as every S9 model is profitable today.

New generation models fetch $ 20 to $ 29 a day

The end of August is approaching and last month Bitcoin (BTC) prices have risen sharply. Currently, BTC is more than 14% higher in value than it was 30 days ago, and this has increased the profitability of mining rigs.

At the time of writing, there are 124 exahashes per second (EH / s) of the SHA256 hashrate for the BTC chain. BTC’s hashrate has risen dramatically after falling to a low of 69 EH / s on June 28, 2021. Today’s BTC prices mean the vast majority of mining rigs are making profits even after subtracting the cost of electricity and tackling today’s mining difficulties.

Higher Bitcoin prices are reviving old mining rigs, obsolete miners are seeing new lifeStatistics on asicminervalue.com on Monday 30 August 2021.

As already mentioned, the Whatsminer M30S ++ model developed by Microbt currently benefits from 112 terahash per second (TH / s) by 28.77 US dollars at electricity costs of around 0.12 US dollars per kilowatt hour (kWh). Most bitcoin miners today spend much less than $ 0.12 per kWh when in regions with cheap electricity.

The second most profitable mining machine today is Bitmain’s Antminer S19 Pro (110TH / s) as the mining rig can generate up to $ 28.72 per day in profits for the same electricity cost. Microbt and Bitmain make the most profitable Bitcoin miners on the market today, and Canaan’s products follow the two manufacturing giants.

Old miners become profitable again

Of course, new generation application specific integrated circuit models (ASIC) with the latest semiconductors can make daily profits of between $ 10 and $ 25 per day using 100 TH / s units up to 50 TH / s units. If that $ 0.12 per kWh is halved to $ 0.06, many oil rigs can nearly double those prices.

It also means older ASIC machines are profitable today, as machines that process less than 50 terahash can absorb small fractions of daily BTC. For example, the Innosilicon T2 Turbo can earn around $ 3 per day and $ 0.12 per kWh at 25 TH / s at today’s BTC exchange rates.

Higher Bitcoin prices are reviving old mining rigs, obsolete miners are seeing new lifeBitmain S9 stats via asicminervalue.com on Monday 30th August 2021.

The old GMO B2 miner, which hit the market at 24 TH / s in 2018, can make a profit of around $ 2.69 per day. At $ 0.12 per kWh, the Canaan Avalonminer 921 processes about 20 TH / s, and an owner of this facility can get $ 2.03 per day. Bitmain’s popular mining rig, the S9, has been estimated to power around 70% of the BTC hashrate.

Bitmain’s S9 models saw a resurgence in November 2020 and this month all S9 models are again profitable. In fact, they’re more profitable than they were in November 2020 when S9 models were making between $ 0.10 and $ 0.59 per day in profits.

On August 30, 2021, S9 models can sell between 11.5 TH / s and 16 TH / s using today’s BTC exchange rate and power consumption of around $ 0.12 per kWh, roughly $ 0.74 to $ 1.85 per kWh Day. Of course, the 16 Terahash Bitmain Antminer S9 SE is the most profitable S9 model. Other older mining models made by companies like Bitfury, Bitfily, Ebang, Halong, and others are making profits at today’s BTC prices.

Higher Bitcoin prices are reviving old mining rigs, obsolete miners are seeing new lifeBitcoin Cash (BCH) block stats via Coin Dance on Monday, August 30th, 2021.

Additionally, one would think that BTC is the best SHA256 coin, but on Monday SHA256 blockchains like Bitcoin Cash (BCH), Bitcoinsv (BSV) and Ecash (XEC) are seeing higher mining profits. Coin Dance’s statistics show that it is currently 2.9% more profitable to mine Bitcoin Cash (BCH) and 11.3% more profitable to mine on the Bitcoinsv (BSV) blockchain. Ecash (formerly BCHA or Bitcoin ABC) is 10.7% more profitable than Bitcoin (BTC) on Monday.

What do you think of the return to profitability among older bitcoin miners? Let us know what you think on this matter in the comments below.

Tags in this story

$ 0.12 per kWh, ASIC miners, ASICs, Bitcoin miners, Bitfily, BitFury, Bitmain, Canaan, Ebang, power consumption, electricity, Exahash, gmo, Halong, Hashpower, Hashrate, Innosilicon, Microbt, mining, Bitcoin mining , Mining Rigs, New Miners, Old Miners, Profitability, Profitability, Profits, S9, SHA256, Terahash

Photo credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement for any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


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