Model Antminer S19 (95Th) from Bitmain mining SHA-256 algorithm with a maximum hashrate of 95Th/s for a power consumption of 3250W.
Bitcoin mining can still make sense and be profitable for some individuals. Equipment is more easily obtained, although competitive ASICs cost anywhere from a few hundred dollars up to about $10,000. In an effort to stay competitive, some machines have adapted.
The Antminer can make you around 0.1248924 Bitcoin, or $104.40 a month based on the above electricity rates. If the Antminer costs you $1,000 during purchase, it will take you approximately 10 months to break even. That’s not all: If you live in an area with high electricity costs, you will run into a loss.
What is an ASIC Bitcoin Miner?
Since it’s now impossible to profitably mine Bitcoin with your computer, you’ll need specialized hardware called ASICs.
Here’s what an ASIC miner looks like up close:
Originally, Bitcoin’s creator intended for Bitcoin to be mined on CPUs (your laptop or desktop computer). However, Bitcoin miners discovered they could get more hashing power from graphic cards. Graphic cards were then surpassed by ASICs (Application Specific Integrated Circuits).
Think of a Bitcoin ASIC as specialized Bitcoin mining computers, Bitcoin mining machines, or “bitcoin generators”.
Nowadays all serious Bitcoin mining is performed on dedicated Bitcoin mining hardware ASICs, usually in thermally-regulated data-centers with low-cost electricity.
You can use our calculator below to check the mining hardware above. Input your expected electricity price and the hash rate of the miner for an estimate.
The Bitcoin price and the total network hash rate are the two main factors that will affect your profitability.
Our calculator is more accurate than most others because ours assumes the 0.4527678% daily increase in network hash rate. This has been the average daily increase over the past 6 months.
Most other calculators do NOT include this metric which makes mining appear way more profitable than it actually is.
The Bitcoin mining machines Price
Bitcoin mining is a booming industry, but the Bitcoin price increasing can help make up some of these losses.
The Bitcoin price is increasing at an average of 1.039% per day over the past year. Try messing with the calculator using different prices.
Know your Competition
It may seem easy to just spin up a miner.
But you NEED to take a look at just how serious mining is.
The video below offers an inside look at one of China’s largest mines.