The data shows a significant decline in the profits of Bitcoin miners…details here
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Answer The data shows a significant decline in the profits of Bitcoin miners…details here
At around $0.12 per kWh, only 3 ASIC hardware bitcoin miners are collecting profits using the daytime bitcoin exchange rate.
Bitcoin miners are having a hard time and bitcoin prices are much lower than they were a year ago today.
Data from “macromicro.me” indicates that the production cost of bitcoin comes to $19,356 per coin, much higher than the current value of $17,100.
This means that bitcoin miners need to have access to cheap electricity, and work with the most efficient bitcoin mining hardware on the market today.
Metrics show that the average global price for electricity in 2022 is $0.143 per kWh and in select regions around the world, average households and households can spend as little as $0.10 per kWh, and some areas as low as $0.01 per kWh.Read:Judge rejects Ripple’s proposal to access trading history for SEC employees
Countries with cheap electricity rates include Qatar, Russia, Iran, Saudi Arabia, Venezuela, Kyrgyzstan, Cuba, Libya, Uzbekistan, and Kazakhstan.
While cheap electricity is beneficial to bitcoin miners, they also need the most efficient ASIC miners on the market.
Statistics show that only three ASICs are profitable if the process requires a payment of $0.12 per kWh.
Machines that are still profitable at this electricity cost ($0.12 per kWh) include:
Bitmain Antminer S19 XP Hyd, Antminer S19 XP (140 TH/s), Antminer S19 Pro + Hyd s.
If the electrical cost were reduced to $0.07 per kWh, 16 different SHA256-compliant ASICs would make a profit, according to data collected by asicminervalue.com.
At $0.05 per kWh, ASIC PoW hardware compatible with the three algorithms can generate an estimated profit of $20.35 to $42.64 per day depending on the hash output of the specific miner.
The two most dominant brands on the market today, in terms of high-powered, next-generation Bitcoin miners, include:Read:The story of a 12-year-old who made over $160,000 in one day in NFT tokens
Bitmain Antminer and Whatsminer series manufactured by Microbt.
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