After Bitcoin falls below the 100,000 USD level, mining has become much less profitable.
With an electricity cost of 0.06 USD/kWh, even miners using high-efficiency mining machines (27.5 W/TH) can only break even when the price of Bitcoin is around 97,000 USD. Less efficient machines or those with higher electricity costs are incurring losses.
So which miners are still profitable?
Data from F2Pool shows a significant difference in profitability depending on the performance of the mining machines. The most efficient devices, such as the Antminer S21 XP Hyd. (12,0 W/T), only need the price of Bitcoin to reach 41,585 USD to break even on electricity costs, meaning electricity costs only account for 43% of the current Bitcoin price. This high-end machine group still maintains strong profitability at the current price level. Other high-performance S21 models also come close to this level, and all can be profitable even when Bitcoin drops below 60,000 USD.
Conversely, many old, inefficient machines are currently losing money. For example, the Whatsminer M53 requires a Bitcoin price of 100,694 USD, the Antminer S19 needs 118,641 USD, while the least efficient machine on the list, the CopyMiner C7, needs a price of 130,909 USD just to cover electricity costs.
Currently, Bitcoin is trading around 95,000 USD after a sharp fall.
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