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Higher Bitcoin Prices Create Resurrection of Old Mining Rigs, Outdated Miners See New Life – Mining Bitcoin News – Bitcoin News

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by Jamie Redman
The price of bitcoin has dipped a hair in value this past week, but the crypto asset is still up 14.4% over the course of the last month. Statistics show that Bitcoin’s hashrate has seen a resurgence and because bitcoin’s price has increased, mining profitability and hashrate has followed suit. Today’s top bitcoin mining rig is Microbt’s Whatsminer M30S++ (112 TH/s) but with higher bitcoin profits, older machines like Bitmain’s Antminer S9 have seen a revival as every S9 model is profitable today.
The end of August is approaching and over the last month, bitcoin (BTC) prices have increased a great deal. Currently, BTC is over 14% higher in value than it was 30 days ago and this has elevated mining rig profitability.
At the time of writing, there’s 124 exahash per second (EH/s) of SHA256 hashrate dedicated to the BTC chain. BTC’s hashrate has risen dramatically after sliding to a low of 69 EH/s on June 28, 2021. Today’s BTC prices mean that a great majority of mining rigs are showing profits even after subtracting the cost of electricity and dealing with today’s mining difficulty.
As mentioned above, the 112 terahash per second (TH/s) model crafted by Microbt, the Whatsminer M30S++, is currently profiting by $28.77 with an electrical cost of around $0.12 per kilowatt hour (kWh). Most bitcoin miners today spend much less than $0.12 per kWh if they are located in regions with cheap power.
The second most profitable mining machine today is Bitmain’s Antminer S19 Pro (110TH/s) as the mining rig can get up to $28.72 per day in profits using the same electrical cost rate. Microbt and Bitmain manufacture the most profitable bitcoin miners on the market today, and the firm Canaan’s products follow behind the two manufacturing giants.
Of course, new generation application-specific integrated circuit (ASIC) models with the latest semiconductors can see daily profits mining BTC between $10 to $25 per day if they are using 100 TH/s units down to 50 TH/s units. If the $0.12 per kWh is cut in half to $0.06 then a great number of rigs can make close to double these rates.
It also means older ASIC machines are profitable today as machines that process less than 50 terahash can pull in small fractions of daily BTC. For instance, the Innosilicon T2 Turbo with 25 TH/s can get around $3 per day using today’s BTC exchange rates and $0.12 per kWh.
The old GMO B2 miner that launched in 2018 with 24 TH/s can make around $2.69 per day in profits. At $0.12 per kWh, the Canaan Avalonminer 921 processes around 20 TH/s, and an owner of this rig can get $2.03 per day. Bitmain’s popular mining rig the S9 at one time was estimated to power around 70% of the BTC hashrate.
Bitmain’s S9 models saw a resurrection in November 2020 and this month, all S9 models are once again profitable. In fact, they are more profitable than they were back in November 2020, when S9 models made between $0.10 to $0.59 per day in profits.
On August 30, 2021, using today’s BTC exchange rate and electrical consumption of around $0.12 per kWh, S9 models between 11.5 TH/s to 16 TH/s can get around $0.74 to $1.85 per day. Of course, the 16-terahash Bitmain Antminer S9 SE is the most profitable S9 model. Other older mining models produced by companies like Bitfury, Bitfily, Ebang, Halong, and more, are seeing profits at today’s BTC prices.
Moreover, one would think that the best SHA256 coin to mine is BTC but on Monday, SHA256 blockchains such as Bitcoin Cash (BCH), Bitcoinsv (BSV), and Ecash (XEC) are seeing higher mining profits. Coin Dance statistics show that it is currently 2.9% more profitable to mine bitcoin cash (BCH) today, and 11.3% more profitable to mine on the Bitcoinsv (BSV) blockchain. Ecash (formally BCHA or Bitcoin ABC) is 10.7% more profitable to mine than bitcoin (BTC) on Monday.
What do you think about the resurgence of profitability with older bitcoin miners? Let us know what you think about this subject in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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Crypto Podcast: Potential BTC Price Bounce and NFT Theft – Coindesk

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Crypto Podcast: Potential BTC Price Bounce and NFT Theft  Coindesk
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Crypto Airdrop: What's an Airdrop and Why Crypto Airdrops Are Issued – Coindesk

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Foundry launches a BTC mining rig marketplace with over 40k units – Techstory

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The Bitcoin mining industry is booming as the overall network hashrate continues to increase. This has been used as a good opportunity by Foundry to launch a BTC mining rig marketplace. The mining rig marketplace is called the Foundryx and has over 40,000 mining units for resale. They also have their own mining setups, which contribute 16.8% to the total BTC hash rate. This also makes them the largest miner as per hash rate, followed closely by AntPool.
The company has been making money by employing the mining rigs themselves and selling them as well. This makes it really profitable for them. In August 2020, the digital currency group invested $100 million in the company. Foundry was just a year old when this investment was made, and they have been working in the BTC mining industry ever since. Their new marketplace is also a step in the right direction as it offers much-needed rigs in the market,
Foundry USA launches BTC mining rig marketplace
The company is already the largest individual contributor of the BTC hash rate with 29.83 EH/s. And now, they are planning to use the company’s robust shipping and logistic units to reach customers who purchase from their new mining unit marketplace. I think their profits are going off the charts with this new business idea.
One very important thing to note here is that the BTC mining rig marketplace has units for resale. This means it doesn’t sell new devices. The mining rigs have been used before and hence will be available for cheaper rates. Additionally, the current supply chain issues and chip shortages have increased the demand for used rigs. Currently, there aren’t many used rigs resellers in the market that can be trusted properly, but with Foundryx, the trust factor is there. This is why they are planning to become a properly trusted secondary marketplace of BTC mining rigs. It is also important to note that Foundry has also been launching staking services on 20 different networks, which will be yet another important business for them.
What are your thoughts on Foundry USA launching a used BTC mining rig marketplace? And do you think it will take off due to the current shortage of chips and rigs supply? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Metaverse will be a multitrillion dollar market, says Cathie Wood.
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