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The increase in the price of the first cryptocurrency affected the profitability of the mining equipment, which was considered obsolete. It is informed Coindesk.
According to the miners’ profitability index, tracked by PoolIn and F2Pool mining pools, older teams like Bitmain’s Antminer S9 or Canaan’s Avalon A851 show gross margins of 10-20% at an average electricity cost of $ 0.05 per kWh.
Owners of miners can achieve even greater profit growth by taking steps to increase the efficiency of their devices, for example, by combining two S9 miners or reducing the voltage.
Profitability may increase as a result of the upcoming rainy season in China, as electricity prices could fall due to excess hydropower.
If the current bitcoin price persists, former miners like Antminer S9 will be able to make a profit even after Halvinga. Newer devices like the Antminer S17 and S19 or WhatsMiner M20 and M30 can generate more than 60% profit, even with average energy costs of $ 0.05 per kWh.
ForkLog previously released special Proyect, in the framework of which we explain everything you need to know about bitcoin mining.
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