Bitcoin miners are feeling the pain of an extremely high difficulty rating and much lower bitcoin prices than a year ago today.
. Countries that enjoy cheap electricity rates lower than a U.S. nickel per kWh include Qatar, Russia, Iran, Saudi Arabia, Venezuela, Kyrgyzstan, Cuba, Libya, Uzbekistan, and Kazakhstan.While cheap electricity is good for bitcoin miners, they also need the most effective ASIC mining units on the market. Statistics show that only three ASIC miners are profitable if the operation has to pay $0.12 per kWh.
If the electrical cost is slashed down to $0.07 per kWh, 16 different SHA256-compatible ASIC machines will see a profit, according tocollected by asicminervalue.com. At $0.07 per kWh, a Bitmain Antminer S19j is estimated to produce $0.21 per day in profit. If electrical costs are cut down even lower at $0.05 per kWh, roughly 43 ASIC bitcoin mining rigs will see a profit.
At that rate , an Antminer S19 XP Hyd. will get an estimated $9.69 per day, while the Ebang Ebit E12+ with 50 TH/s will produce $0.15 per day in profits, according to asicminervalue.com. Furthermore, SHA256 ASIC machines are the fourth most profitable proof-of-work devices behind algorithms like Kadena, Scrypt, and Eaglesong.
At $0.05 per kWh, PoW ASIC machines that are compatible with those three algorithms can make an estimated $20.35 to $42.64 per day in profits depending on the hashrate output of the specific rig. The most dominant two brands on the market today, in terms of high-powered, next-generation bitcoin miners, include Bitmain’s Antminer series and Microbt’s Whatsminer series.
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