Following Bitcoin’s recent plunge below the $100,000 mark, miners are finding it increasingly difficult to turn a profit. With electricity costs at $0.06 per kWh, even miners using efficient machines—such as those consuming 27.5 watts per terahash—are barely breaking even, requiring Bitcoin to be priced around $97,000 to cover expenses. Less efficient hardware or higher electricity costs lead to outright losses for many operators.
So, which miners are still profitable in this challenging landscape?
Data from F2Pool highlights a stark contrast in profitability tied closely to mining hardware efficiency. At the top tier, the most efficient machines like the Antminer S21 XP Hyd. (12.0 W/T) incur electricity costs amounting to only 43% of the current Bitcoin price. This means they only need Bitcoin to be valued at about $41,585 to break even on electricity expenses, making this elite class of miners highly profitable even at today’s price levels.
Other high-efficiency Antminer S21 models follow closely behind, remaining profitable with Bitcoin prices below $60,000.
On the other hand, many older and less efficient mining rigs are struggling to stay in the green. For example, the Whatsminer M53 requires Bitcoin to reach $100,694 just to cover electricity costs, while the popular Antminer S19 needs a much higher break-even price of $118,641. The least efficient hardware on the list, the CopyMiner C7, demands an unsustainable Bitcoin price of $130,909 to avoid losses.
Currently, Bitcoin is trading at around $95,290 after a significant price drop, underscoring the increasing pressure on miners to optimize operations or face declining profitability.
https://bitcoinethereumnews.com/bitcoin/bitcoin-miners-approaching-breakeven-point-amid-price-drop/
