In accordance with an official assertion, Bitmain has just announced the approaching release of the latest generation of Antminer ASIC mining devices.
The new units dubbed the S17+ and T17+ boast higher hash rates than earlier generations alongside relatively comparable energy consumption rates. Both devices are expected to be available for purchase on October 11, 2019.
Costs for Antminer S17+ is $2750 and never available for T17+ at press time, however we’re assuming they will be in keeping with different units Bitmain has released in the past. Be a part of us as we take a look at the new gadgets and run the numbers on what you may expect to get by running one in every of these devices.
For the previous few years, Bitmain has been frequently releasing updated machines in its Antminer line. Typically these units are initially on the top of their class in terms of hash rate, however their dominance is commonly challenged quickly by competing ASIC companies.
Another problem that repeatedly plagues the gadgets is rampant hoarding and reselling at highly inflated prices. In recent times, it’s been common to see devices sold by Bitmain for the retail value to quickly be out of stock and have resellers pop up all over the place asking for a quadruple worth or more.
We will have to see if either demand for these devices has dropped or if Bitmain has somehow managed to produce enough of the devices so that there isn’t a shortage this time around.
In keeping with the release, Bitmain will be launching not one but totally different ASIC miners at (presumably) different worth points and different hash rates. The flagship device, the S17+ boasts a hash rate of seventy two TH/s and consumes about 2,920 watts of power.
The big question is — is it profitable to run one in all these units now? For our calculations, we used the Coinwarz mining profitability calculator and assumed an electricity worth of $0.10 per kilowatt. All different variables equivalent to bitcoin difficult have been left at their defaults which are based mostly on recurrently up to date data.
Primarily based on what we found, the S17+ is profitable to operate, but not extraordinarily so. The calculator means that running and 17+24 hours a day, seven days per week for an entire year (and assuming no change in difficulty, which is unlikely given the launch of a more highly effective gadget), you could expect to earn about half a bitcoin or 0.52212548 BTC.
Once you factor in electricity prices, nonetheless, you’ll be able to roughly halve your potential revenue with an estimated energy cost of $2,557.92.
Trying at the different system, you might probably mine around 0.45156798 BTC in a 12 months, at the price of $2,803.20 in electricity fees.
This is a difficult question to reply because it’s primarily based on a number of variables that are impossible to predict.
It’s reasonable to imagine that when these units go on the market, they may rapidly turn out to be the usual for hash rate, thus rising network difficulty and decreasing the efficiency of the machines.
Second, as bitcoin costs have been floating around the $8,000 to $10,000 mark for quite some time, if one’s intent is to right away sell all of the bitcoin they generate for profits, they would likely only just be able to cover the cost of the hardware and the electrical energy after the first 12 months and never see a lot profit past that. After all, if bitcoin costs go up or down, it changes the outcome.
Before one considers moving into mining, however, it’s a helpful exercise to consider what would occur in the event you had been to easily by half a bitcoin. At right this moment’s costs, half a bitcoin would price approximately $four,250 dollars. Examine this to the Bitmain S17+ which will doubtless come at a price of near $2,000 dollars.
For those who merely purchase the bitcoin, on the end of the 12 months you’ll have that entire half-bitcoin with out having had to fret about running a sizzling, noisy piece of hardware and forking out loads of money to repay your electric invoice month after month.
If bitcoin prices go up, you will see the identical benefit from buying and as you would have from mining it.
Should you buy one of these units?
Ultimately that’s a choice only, you can also make, however for the casual bitcoin investor, you might be probably higher off just buying and holding.
If you are dead-set on moving into mining, nevertheless, buying one in all these machines might be a reasonable way to do it — so long as you don’t pay an overinflated reseller worth if another scarcity happens. You’ll never make your money back if you pay too much for the hardware.
The overwhelming majority of bitcoin mining is done by industrial-scale players that have access to extremely cheap electrical energy and might benefit from economies of scale.
Most certainly these big players should buy hundreds and even hundreds of these machines without delay for a bulk low cost and run them at a really low price. For these players, making a profit mining bitcoin is easy.
But in case you are just a person eager to run one or of these machines in your bedroom, you’re probably better off forgoing it and leaving mining to the pros.
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