New generation and middle-of-the-road machines will still be viable, but less profitable.Bitcoin Mining Hardware Guide The best Bitcoin mining hardware has evolved dramatically since 2009Īt first, miners used their central processing unit (CPU) to mine, but soon this wasn't fast enough and it bogged down the system resources of the host computer. These machines will simply become unprofitable in all places except those with dirt cheap electricity rates. Once they come online in vast quantities and Bitcoin’s hashrate rises as a result, the increase in mining difficulty will obsolete older machines (like the S9 for e.g.) that have lesser efficiency and produce fewer hashes. Mega farms in North America and elsewhere will be the first to secure these machines. But when they do come online, they will add heaps of hashrate to Bitcoin’s computing power, which could easily double next year. If Bitmain’s production and delivery schedule goes as planned, the first batches will go online towards the end of Q3 and throughout Q4. Most of these machines won’t be plugged in next year, though. That’s roughly a 4th of the Bitcoin network’s outstanding hashrate today. With all of that in mind, Bitmain’s 20,000 target seems reasonable.Īssuming the manufacturer meets these targets, that would mean Bitmain could produce 280,000 S19 XPs before the close of next year. Following the bans, Bitmain is reportedly shuttering its mainland China manufacturing capacity and fully migrating to its Indonesian and Malaysian factories, This could be more-or-less depending on a variety of logistical factors, and it remains to be seen how much China’s latest crypto and mining bans will constrict Bitmain’s production. Mining industry sources that the Luxor team has spoken to say that Bitmain has a production target of 20,000 Antminer S19 XPs a month. Decision Points: What Does this Mean for North American Miners? Swiss miner BitRiver chartered its own planes for shipping, as well. Miners have been wrestling with this issue enough this year Marathon Digital Holdings, for example, took to chartering a plane to deliver a batch of machines when sea freight delays became untenable. The discount is included to compensate for the fact that these machines will have a lead time from ordering to deployment of anywhere from 7 to 10 months-potentially even longer if chip shortages and supply-chain bottlenecks throttle manufacturing output and delivery schedules. Notably, this is significantly less than the ~$105/TH that miners are paying in the ASIC resale market for other top-tier equipment, according to Hashrate Index’s Rig Price Indices. So at 140 TH, that means an initial sticker price of $10,500 a rig.
(A “hash” is a long alphanumeric number that is used to mine new bitcoin blocks once the correct hash is produced, a miner claims the next block in the Bitcoin blockchain’s sequence).ĭaily Revenue Potential of Leading Bitcoin Miners Luxor Outlook and Implications: Will Bitmain Be Able to Deliver On Time?īitmain’s first round of preorders prices the S19XP at $75/TH. The machine’s computing power clocks in at 140 terahashes a second (TH/s), which means it produces 140,000,000,000,000,000 guesses a second to find the next block in the blockchain. When looking at its specifications, the S19XP is a significant improvement on the existing S19 series.
Broader Context: The Antminer S19XP Will Be the Most Powerful, Efficient Bitcoin Miner to Date The new machine is advertised to be 27% more powerful than the S19 Pro, the current flagship of the S19 series, while being 27% more energy efficient, as well.īitmain has started taking preorders for the machine with a starting price of $10,500 per unit (which is roughly 10-15% less than other top models), and it estimates that it will begin delivering the first batch sometime in Q3 of next year. Bitmain’s fresh product offering is the newest addition to the S19 series, which launched in the summer of 2020. The new miner, the Antminer S19XP, was officially announced at the company’s World Digital Mining Summit in Dubai this week.
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