homereviewsabout uscontactCalculator
Search
Generic filters
lydian-logo
bitcoin

Bitcoin (BTC)

Price
$ 24,141.47
ethereum

Ethereum (ETH)

Price
$ 1,799.92
cardano

Cardano (ADA)

Price
$ 0.543861
xrp

XRP (XRP)

Price
$ 0.38263
litecoin

Litecoin (LTC)

Price
$ 63.83
stellar

Stellar (XLM)

Price
$ 0.128331
Array

Antminer S19 XP fell in an attempt to bring crypto miners back to profitability

Published on

August 5, 2022
Read Time:2 Minute, 8 Second

With Bitcoin (BTC) value transferring very steadily throughout the crypto winter, the return on funding (ROI) of a brand new mining rig looks as if a shot within the blue. Nevertheless, a mining knowledgeable defined that there might be hope for miners to make a comeback to show a revenue.

Phil Harvey, the CEO of crypto consulting agency Sabre56, informed Cointelegraph that there are elements to think about when reviewing potential revenue from mining rigs. These are mining machine specs, price, actual ROI and mining economics over time.

Analyze this just lately released Antminer S19 XP from mining rig supplier Bitmain, Harvey famous that it's presently essentially the most environment friendly miner when it comes to specs. Relating to the associated fee, the crypto mining knowledgeable identified that the present price of mining machines is considerably decrease than it has been in latest months, particularly when bought straight from the producer, and estimates it to be round US$5,600. {dollars} per machine.

When it comes to what Harvey describes as precise ROI, the consulting agency's CEO defined that utilizing his agency's database, which tracks miners' earnings from the looks of the primary ASIC miner so far, indicators present that enormous miners can regain their ROI about 11 months.

Alternatively, Harvey mentioned that given the price of electrical energy for retail miners, it might take 15 months to see their ROI. He additionally defined:

“These figures don't have in mind attainable leverage. In different phrases, miners who paid twice will see twice the payback interval.”

Relating to the longevity of the brand new gadget, the CEO mentioned that the sort of miner might final not less than 36 months in a facility they function.

Associated: What occurs when 21 million bitcoin are totally mined? Solutions from specialists

When requested if mining will be worthwhile within the long-term, the knowledgeable additionally defined that mining income estimates do not at all times prove as theorized. He famous that mining income estimates elevated a mean of $4,711.28 in 2013 and 2014. Nevertheless, precise gross sales had been solely $1,047.33. He defined that:

"Primarily based mining economics on a single metric like {dollars} per terahash will not be going to offer an correct image of the digital asset mining trade, funding alternatives, or the general market."

Harvey burdened that the info exhibits that income per terahash will decline, indicating a possible mining collapse. However the mining knowledgeable argued that that is tangent to income per mining machine, which he says has proven stability over time.

Source link

Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %
Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : August 5, 2022
Top crossmenumenu-circle