The largest digital currency, Bitcoin, fell below $ 25,000 in Bainance earlier today, affecting the profitability of miners who still use older-generation bitcoin mining machines.
Less profit for older bitcoin mining machines
According to statistics provided by f2pool, two of the older bitcoin mining machines, the Antminer S11 and Avalon A9, may be offline in the bitcoin network, as both are currently in near / unprofitable mining. These machines are older models and operate on energy-intensive components but with lower extraction efficiencies compared to newer generation machines.
At current rates, an Antminer S11 generates $ 2.13 in revenue from $ 2.07 in electricity, resulting in a small profit of $ 0.06. Meanwhile, the Avalon A9 mines at a complete loss. It will cost $ 2.48 on electricity bills to generate revenue of less than $ 2.39 at current market rates.
Other bitcoin mining machines that work at a loss include Holic H22, Antminer S9 SE, Avalon A911, Antminer S9, Aladdin L2, INNOSILICON T2T-25T, Avalon A921, Antminer S9i and more.
Decreasing the income of miners
While the amount of bitcoins rewarded to miners in each block produced remains the same, the value of the reward dollar can vary depending on the market price of BTC at the time. Bitcoin fell below $ 25,000 a few hours ago, resulting in lower profits for older bitcoin mining machines. Newer models are still profitable because they are more efficient and cost less electricity.
Antminer S19 and Whatsminer M30 are still profitable and far from extinguishing. However, the total revenue of bitcoin miners (USD) has decreased significantly since October 2021 following the price of bitcoin.
According to information provided by Blockchain.com, since reaching the peak of $ 74.4 million on October 10, 2021, the total dollar value of blockchain-based bonuses and transaction fees paid to bitcoin miners has dropped by almost 70%. It is currently valued at $ 22.57 million. .
Despite the decline in the price of Bitcoin, the network hash rate is increasing rapidly. Bitcoin hash has now reached 231.428 million TH / s.