F2Pool Unveils List of Minimum Cryptocurrency Prices For Profitable Mining Activities
On September 6, Shixing Mao, co-founder and CEO of one of the largest mining pools in the world, F2Pool, has published a list of cryptocurrency prices for profitable mining activities. This indicates at what minimum price mining a specific virtual currency becomes unprofitable.
The post included several important virtual currencies including Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH) and Zcash (ZEC). Additionally, he adds each of the miners used to mine virtual currencies.
Just to give an example, if Bitcoin reaches 36,792 yuan ($5,376 dollars), it would be unprofitable to mine Bitcoin on an Antminer T9. If we talk about the S7 miner, the situation is even worse because Bitcoin should be worth 79,258 yuan ($11,581 dollars) for mining activities to be profitable.
It is important to mention that newer devices are better suitable for the task of mining virtual currencies. The Antminer T9 model was released bac in 2017 and is still profitable at current prices. The new Innosilicon T2 works much more efficiently and the threshold for it to be profitable is 26,636 yuan (or $3,891 dollars).
During August, the GPU manufacturer Nvidia announced that crypto mining hardware sales were lower than expected during the second quarter of 2018.
In the future, new hardware will appear in the market and will modify how the mining hardware works. In general, there are new devices that are much more profitable than older ones, since difficulty has also increased.
One of the different strategies used by mining farms is to settle their operations in countries with low temperatures and stable economic system. Additionally, low electricity prices are a key factor for enterprises to locate their businesses.
Some days ago we wrote that AntPool, one of the most important cloud mining companies, could be using the so called AsicBoost. The company is used by Bitmain, one of the most known cryptocurrency mining firms in the market.
At the moment of writing, Bitcoin is being traded close to $6450 dollars.