In keeping with an official assertion, Bitmain has just announced the approaching launch of the latest generation of Antminer ASIC mining devices.
The new devices dubbed the S17+ and T17+ boast higher hash rates than earlier generations alongside comparatively comparable energy consumption rates. Each gadgets are expected to be available for purchase on October 11, 2019.
Prices for Antminer S17+ is $2750 and never available for T17+ at press time, however we are assuming they are going to be according to different units Bitmain has released in the past. Be part of us as we check out the new devices and run the numbers on what you would possibly count on to get by running one of these devices.
For the last few years, Bitmain has been frequently releasing updated machines in its Antminer line. Typically these devices are initially at the high of their class when it comes to hash rate, however their dominance is often challenged quickly by competing ASIC companies.
Another subject that frequently plagues the gadgets is rampant hoarding and reselling at highly inflated prices. Lately, it’s been widespread to see devices sold by Bitmain for the retail worth to rapidly be out of stock and have resellers pop up all over the place asking for a quadruple worth or more.
We must see if both demand for these gadgets has dropped or if Bitmain has one way or the other managed to produce sufficient of the units so that there isn’t a scarcity this time around.
In keeping with the release, Bitmain can be launching not one but two different ASIC miners at (presumably) completely different value 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 of these units now? For our calculations, we used the Coinwarz mining profitability calculator and assumed an electrical energy worth of $0.10 per kilowatt. All different variables resembling bitcoin difficult have been left at their defaults which are based mostly on commonly updated data.
Based on what we found, the S17+ is profitable to operate, but not extremely so. The calculator suggests that running and 17+24 hours a day, seven days every week for an entire 12 months (and assuming no change in issue, which is unlikely given the launch of a more highly effective device), you can count on to earn about half a bitcoin or 0.52212548 BTC.
Once you factor in electrical energy prices, nonetheless, you’ll be able to roughly halve your potential earnings with an estimated energy price of $2,557.92.
Looking on the different gadget, you may probably mine round 0.45156798 BTC in a yr, at the cost of $2,803.20 in electricity fees.
This is a difficult query to reply because it’s primarily based on a number of variables which might be impossible to predict.
It is reasonable to imagine that after these gadgets go in the marketplace, they’ll shortly turn into the usual for hash rate, thus increasing network problem and reducing the effectivity of the machines.
Second, as bitcoin prices have been floating around the $eight,000 to $10,000 mark for fairly a while, if one’s intent is to right away sell the entire bitcoin they generate for profits, they might possible only just be able to cover the cost of the hardware and the electrical energy after the first year and never see a lot profit beyond that. Of course, if bitcoin costs go up or down, it adjustments the outcome.
Earlier than one considers stepping into mining, nevertheless, it’s a useful train to consider what would occur if you had been to simply by half a bitcoin. At right this moment’s costs, half a bitcoin would cost approximately $4,250 dollars. Compare this to the Bitmain S17+ which will doubtless come at a cost of close to $2,000 dollars.
In the event you simply buy the bitcoin, at the end of the 12 months you will have that total half-bitcoin without having had to fret about running a scorching, noisy piece of hardware and forking out loads of cash to pay off your electric invoice month after month.
If bitcoin costs go up, you will see the same benefit from buying and as you’d have from mining it.
Should you buy certainly one of these gadgets?
In the end that’s a call 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 getting into mining, nevertheless, buying certainly one of these machines may very well be a reasonable way to do it — as long as you don’t pay an overinflated reseller value if another scarcity happens. You’ll by no means make your cash back if you pay an excessive amount of for the hardware.
The overwhelming majority of bitcoin mining is completed by industrial-scale players that have access to extraordinarily cheap electricity and can benefit from economies of scale.
Most likely these big players should purchase hundreds and even thousands of those machines directly for a bulk low cost and run them at a really low price. For these players, making a profit mining bitcoin is easy.
However in case you are just a person desirous to run one or two of these machines in your bedroom, you’re probably better off forgoing it and leaving mining to the pros.
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